Nasdaq-100 futures slide, dragged lower as Nvidia sell-off resumes: Live updates
CNBC ·
Key points
- Nasdaq-100 futures fell about 0.9% and S&P 500 futures dropped around 0.3% in after-hours trading on reports that Nvidia’s board is preparing to remove Jensen Huang, amid disclosures of an extramarital relationship with an executive.
- Regular trading saw the Dow rise roughly 0.5%, the S&P 500 gain about 1.3%, and the Nasdaq Composite advance around 1.6%, aided by Nvidia’s rebound and better-than-expected results from CoreWeave that reinforced the AI growth narrative.
- Analysts cautioned that macro factors—persistent inflation, potential further Fed rate hikes, higher long-term rates, and regulatory changes in AI/data centers—could limit the upside of the AI-driven rally.
- Investor sentiment centered on the tension between AI optimism and macro risk, with comments suggesting a need for selective exposure until economics and policy clearer.
- Upcoming economic data, including initial jobless claims and existing home sales, were highlighted as key inputs to gauge inflation and labor dynamics and to inform next steps for market direction.
Summary
Markets pared early losses and then advanced as Nvidia’s stock rebound helped lift indices, even as reports that the board may oust CEO Jensen Huang added risk to the AI rally. Nasdaq-100 futures slipped on the rumor of leadership shakeup, while after-hours trading saw Nvidia down sharply before recovering in regular session strength led by Nvidia’s rebound and CoreWeave’s solid results. Investors weighed whether AI-driven momentum can continue amid inflation, policy, and rate concerns, with analysts warning that macro headwinds could cap gains. The coming data on inflation and the labor market were seen as key to gauging the market’s next move, and traders awaited further signals on AI-related and macro risk appetites.
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