Dow, S&P 500, Nasdaq Futures Mixed As Tech Rebounds Despite Nvidia CEO Crisis: AMD, CSCO, AMAT In Focus

Key points

• Nvidia shares traded shakily after reports that the board is examining candidates to replace Jensen Huang, with a potential temporary chief as a contingency; this backdrop saw after-hours declines of more than 7%.
• Despite Nvidia’s headlines, other AI and chip names rebounded, highlighted by AMD rising over 7% intraday and continuing gains into the session, with Broadcom, Marvell, and Intel also higher.
• Semiconductor-focused ETFs led the strength, with SOXX up about 6%, SMH climbing near 5%, and the tech-heavy VGT gaining close to 3% amid renewed AI enthusiasm.
• CoreWeave’s quarterly results, beating expectations and guiding higher revenue, contributed to the broader AI story and provided a positive offshoot for related equities and sentiment.
• Market chatter included optimism around Anthropic’s IPO potential and a subdued but still positive tone for AI infrastructure plays, contrasting with Nvidia’s leadership upheaval.
• Investors were positioning around upcoming data releases—Initial jobless claims, existing home sales, and the October PPI—to gauge inflationary pressures and the labor market's strength.
• Treasury yields eased slightly and oil prices declined modestly, with Asian markets mixed and U.S. indices off to a cautious start as the session progressed.