This live blog is refreshed throughout the day with the latest updates from the market. To find the latest Stock Market Today threads, click here.Happy Friday. Stock futures were mixed as investors looked to recover from Thursday’s losing session, which saw Nvidia shares tumble following the resignation of CEO Jensen Huang, a spike in oil prices and rising Treasury yields.
Huang resigned after 33 years leading the AI chipmaking giant he co-founded, following reports of relationships with a woman suspected of being a Chinese intelligence asset and company subordinates.
Chief Financial Officer Colette Kress has stepped in as interim CEO while the board searches for a permanent successor.
Nvidia shares were rising 2.67% in premarket trading.
In a statement Thursday, Kress said Nvidia’s “strength has always come from its people” and that she was “committed to building on the extraordinary foundation Jensen created over the last 33 years.”
“Global markets are ending another volatile week on a cautious note, with the sharp swings in Nvidia shares and renewed pressure on Treasury yields keeping investors on edge,” said Daniela Hathorn, senior market analyst at Capital.com.
“However, the momentum over the last few days suggests investors remain willing to buy into weakness,” she added.
Hathorn said the rebound suggests investors are beginning to separate the immediate leadership shock from Nvidia’s underlying AI business. However, Huang’s departure introduces uncertainty around strategy, customer relationships and execution.
The company’s technological advantages and demand for AI infrastructure have not disappeared overnight, she noted, but investors may be less willing to assign the same valuation premium until there is greater clarity around succession and governance.
Investors will also be watching for the October Producer Price Index (PPI), scheduled for release today at 8:30 a.m. ET.