My top 10 things to watch Thursday, Nov. 12 1. Jensen Huang has resigned as CEO of Nvidia , effective immediately. Truly stunning but had to happen. Shares are down over 10% premarket. CFO Colette Kress was named the interim chief executive. This follows a widening of the affair scandal. In addition to a liaison with an alleged Chinese spy, The New York Times reported yesterday that Huang had an affair with an Nvidia executive who reports to him. Multiple reports last night that the board was meeting to discuss his future. Now this. 2. Stock futures are under pressure, dragged down by Nvidia shares. Not helping: Oil prices reversed higher after President Donald Trump said the U.S. doesn't need to make a deal with Iran. The 10-year Treasury yield is also moving higher, as the bond market reopens after its Veterans Day closure. 3. A slew of Nvidia downgrades hit this morning before the official announcement, as most on the Street think Huang is the only one who matters. By my count, here's who has: Bernstein, Oppenheimer, KeyBanc, William…
Jim Cramer's top 10 things to watch in the stock market Thursday
In short
Colette Kress has taken over as interim chief executive at Nvidia as the board navigates allegations involving an executive affair and a liaison with an alleged Chinese spy. The turmoil prompted multiple brokerages to slash ratings on Nvidia, whereas competitor Advanced Micro Devices secured an upgrade from William Blair. Outside the semiconductor space, Eli Lilly notched international regulatory progress, while climbing Treasury yields and hawkish crude signals added to broader market headwinds.
Key points
- Sudden executive turmoil at Nvidia threatens broader technology momentum as multiple Wall…: Sudden executive turmoil at Nvidia threatens broader technology momentum as multiple Wall Street analysts quickly downgrade the company.
- Rival chipmaker Advanced Micro Devices stands to capture competitive advantage following…: Rival chipmaker Advanced Micro Devices stands to capture competitive advantage following a ratings upgrade by William Blair.
- Reopening Treasury markets and rising crude prices driven by foreign policy rhetoric pres…: Reopening Treasury markets and rising crude prices driven by foreign policy rhetoric present compounding headwinds for equity markets.