All eyes on Nvidia this morning.
All eyes on Nvidia this morning.
Wednesday's scorecard: $SPY's S&P 500 rose 1.3% to 7,619, $QQQ's Nasdaq gained 1.6% to 25,466 and $DIA's Dow added 0.5% to 52,486. CoreWeave jumped nearly 25% after raising its outlook, which calmed some AI jitters. Then, after the close, the Wall Street Journal reported that Nvidia's board is preparing to remove its CEO, Jensen Huang.
This morning: Nasdaq futures -0.8%, S&P futures -0.3%, Dow futures +0.1%. Nvidia is down about 6% premarket after closing up 2.9% on Wednesday. VIX is near 18, WTI is around $86 and the 10-year yield sits right at 5%.
Watching today:
• The Nvidia board meeting and any official word from the company
• Fed hike odds, now about 90% for December per CME FedWatch
• Earnings from Cisco, Applied Materials, Brookfield and Nebius
• Jobless claims and existing home sales
When one stock can move the whole index, concentration risk is real. It's another reminder to know what you own and why, and to respect margin when rate hikes are on the table.
What's your take on the Nvidia news?
Not financial advice — simply my journey in margin.
