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US Stocks Barely Move as Nvidia Slide Offsets Gains in Energy Shares

US indexes hovered near flat on Thursday as Nvidia shares fell after Jensen Huang's exit, while energy stocks rose with oil prices, according to Reuters.

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what happened

US stocks were little changed on Thursday, according to Reuters. The S&P 500 and Nasdaq pared early losses as higher crude prices lifted energy shares, with the S&P 500 energy index gaining about 2% to lead all 11 major sectors. Oil rose after President Donald Trump posted on social media that the US had no need for a deal with Iran.

Nvidia shares were last down about 5%, after dropping nearly 12% earlier. Colette Kress, the chief financial officer, was named interim CEO following Jensen Huang's departure, which pulled down AI-linked stocks globally. Cloud firm Nebius plunged close to 18% after its quarterly results and outlook. Rivals such as Broadcom, AMD, Alphabet and Amazon moved higher and were the largest boosts to the S&P 500.

The Dow Jones Industrial Average rose 0.02% to 52,495.13, the S&P 500 lost 0.13% to 7,609.16, and the Nasdaq Composite fell 0.27% to 25,396.16.

why it matters

Investors are watching whether financing arrangements Nvidia has used to back customers, including its own clients, will face tougher scrutiny after Huang's departure. Democratic wins in the US midterm elections have also raised concern about more AI regulation. Ahead of Friday's producer price data, markets are almost fully pricing in a Federal Reserve rate hike of at least 25 basis points in December.

market impact

Nvidia and AI stocks: pressure from the leadership change; US energy companies: support from higher oil prices

  • US energy stocks pressure up — higher crude prices after Trump's comments on a deal with Iran
  • Nvidia pressure down — investor worries about leadership after Jensen Huang's exit

tags

Leadership changeStockUnited States

instruments

S&P 500 ↗Nasdaq CompositeNvidia ↗US energy stocksBrentDow Jones

on polymarket

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sources

  1. Equities little changed, Nvidia drop offsets lift in energy shares — Reuters, 12 November 2026 at 19:54 UTC

prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.

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