Stocks rise on tech gains; Nvidia falls after hours
SPY•The Nasdaq and S&P 500 each gained more than 1% as technology shares rallied, while the Dow rose 0.49%. Nvidia gained 2.9% in regular trading before falling 8% after hours after its board was reportedly preparing to oust CEO Jensen Huang.
1. Tech shares lead gains
Major U.S. stock indexes rose on Wednesday, led by technology shares after an upbeat report from CoreWeave lifted optimism about the AI trade. The Nasdaq gained 1.60% to 25,466.19, the S&P 500 rose 1.31% to 7,619.38 and the Dow added 0.49% to 52,486.49.
2. Nvidia drops after hours
Nvidia shares rose 2.9% during the regular session, then fell 8% after hours. Its board was reportedly preparing to oust CEO Jensen Huang, following reports of two extramarital affairs, including one with a suspected Chinese spy. CoreWeave shares gained 24.7% after the company said it expected to become profitable in 2028.
3. Oil and dollar climb
Oil prices rose after Iran's security chief said Tehran would not allow enriched nuclear material to leave the country. Brent settled up 1.39% at $92.76 a barrel, while U.S. West Texas Intermediate gained 0.57% to $86.53. The dollar index rose 0.7% to 102.92; the U.S. Treasury market was closed for Veterans Day.
