Stock Market Today: NVDA Stock Sinks Nasdaq, S&P 500 Futures as Board Weighs Jensen Huang’s Future — CRWV, TTEK, FNV in Focus (UPDATED)

Editor's Note: The ETFs tracking benchmark indices, lede, economic data, and the headline were updated in the story.

U.S. stock futures were mixed on Thursday, as the Dow Jones, S&P 500, and Nasdaq 100 indices diverged, following Wednesday's higher close.

The U.S. labor market showed a slight uptick in new filings as seasonally adjusted initial jobless claims rose to 200,000 for the week ending Nov. 7, marking an increase of 9,000 from the previous week's revised level. Despite this weekly jump, broader trends remain stable, with the four-week moving average holding unchanged at 195,250. Furthermore, continuing claims for the week ending Oct. 31 declined by 20,000 to 1,697,000, keeping the advance seasonally adjusted insured unemployment rate flat at 1.1%.

Iranian Security Chief Mohsen Rezaee warned on X that if there is "another war against Iran," U.S. military bases "from West Asia to Europe" would be targets, adding, "NO SAFE DISTANCE. NO SAFE HAVEN. NO IMMUNITY."

Iran's Parliament Speaker and chief negotiator Mohammad Bagher Ghalibaf said in an Al Jazeera interview that the Strait of Hormuz would "never return" to its pre-war status and argued that maritime regulations fall under Iranian and Omani laws rather than international rules. Reuters reported that Iran attacked navigation infrastructure on Oman's Didamar island, and Reuters also reported 37 vessel attacks in October.

Meanwhile, the 10-year Treasury bond yielded 4.99%, and the 2-year Treasury bond yielded 4.76%, at the last check. The CME Group's FedWatch tool projections show markets pricing in a 92.8% likelihood of the Federal Reserve hiking interest rates after its December meeting./p> figure class="wp-block-table is-style-stripes">table class="has-fixed-layout">thead>tr>th>Index/th>th>Performance (+/-)/th>/tr>/thead>tbody>tr>td>Dow Jones/td>td>-0.26%/td>/tr>tr>td>S&P 500/td>td>-0.72%/td>/tr>tr>td>Nasdaq 100/td>td>-1.54%/td>/tr>tr>td>Russell 2000/td>td>-0.74%/td>/tr>/tbody>/table>

The SPDR S&P 500 ETF Trust (NYSE:SPY)/a>, the Invesco QQQ Trust ETF (NASDAQ:QQQ)/a> and the SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA)/a>, which track the S&P 500 index, Nasdaq 100 index and Dow Jones Industrial Average, respectively, were mixed in premarket trading on Thursday. The SPY was down 0.86% at $753.28, the QQQ declined 1.48% to $680.14, and the DIA fell 0.51% to $521.75./p> figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">div class="wp-block-embed__wrapper"> iframe loading="lazy" title="Nvidia Sinks as Board Weighs Jensen Huang’s Future" width="500" height="281" src="https://www.youtube.com/embed/cqFD1XJTMv4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen>/iframe> /div>/figure> div class="bz-read-next-block" data-variant="card" data-news-mode="manual" >

strong> Read Also: a href="https://www.benzinga.com/markets/prediction-markets/26/11/63172206/stock-market-will-sp-500-open-up-or-down-today-76" target="_blank" rel="noopener"> Stock Market: Will S&P 500 Open Up or Down Today?/a> /strong> /p>

Stocks In Focus

NVIDIA

li>NVIDIA Corp. (NASDAQ:NVDA)/a> was 6.57% lower in premarket on Thursday after The New York Times reported Wednesday that CEO Jensen Huang had a second extramarital affair and the board may remove him./li>

li>Benzinga's Edge Stock Rankings indicate that NVDA maintains a negative price trend in the short, medium, and long terms, with a strong growth score./li> /ul> figure class="wp-block-image size-full">

Tetra Tech

li>Tetra Tech Inc. (NASDAQ:TTEK)/a> was 8.42% higher in premarket on Thursday after it reported fourth-quarter 2026 earnings of $0.49 on revenue of $1.34 billion, beating estimates./li>

li>Benzinga's Edge Stock Rankings indicate that TTEK maintains a positive price trend in the short, medium, and long terms, with a strong momentum score./li> /ul> figure class="wp-block-image size-full">

Franco-Nevada

li>Franco-Nevada Corp. (NYSE:FNV)/a> was 0.14% lower in premarket trading on Thursday after it reported third-quarter 2026 earnings of $1.89 on revenue of $549.30 million./li>

li>Benzinga's Edge Stock Rankings indicate that FNV maintains a positive price trend in the short, medium, and long terms, with a strong growth score./li> /ul> figure class="wp-block-image size-full">

CoreWeave

li>CoreWeave Inc. (NASDAQ:CRWV)/a> was 5.54% lower in premarket on Thursday following it's earnings led jump of about 25% on Wednesday. Reuters reported last week that voter opposition to data center development across 10 states backed restrictions or rejected proposals to develop data centers in their communities./li>

li>Benzinga's Edge Stock Rankings indicate that CRWV maintains a negative price trend in the short, medium, and long terms, with a poor momentum score./li> /ul> figure class="wp-block-image size-full">

Cisco Systems

li>Cisco Systems Inc. (NASDAQ:CSCO)/a> was 0.74% lower in premarket on Thursday as analysts expect first-quarter 2027 earnings of $1.33 per share on revenue of $18.12 billion after the closing bell./li>

li>Benzinga's Edge Stock Rankings indicate that CSCO maintains a negative price trend in the short and medium terms but a positive trend in the long term, with a poor value score./li> /ul> figure class="wp-block-image size-full">/figure> div class="bz-read-next-block" data-variant="card" data-news-mode="manual" >

strong> Read Also: a href="https://www.benzinga.com/markets/equities/26/11/63173171/michael-burry-declares-don-has-fallen-amid-nvidia-ceo-row-but-gene-munster-says-nvda-can-thrive-with-or-without-jensen" target="_blank" rel="noopener"> Michael Burry Declares ‘Don Has Fallen’ Amid Nvidia CEO Row, But Gene Munster Says NVDA Can Thrive ‘With or Without Jensen’/a> /strong> /p>

Cues From Last Session

U.S. stocks closed higher on Wednesday, with information technology, energy, and industrials leading and consumer discretionary lagging. The Dow gained over 200 points./p> figure class="wp-block-table is-style-stripes">table class="has-fixed-layout">thead>tr>th>Index/th>th>Performance (+/-)/th>th>Value/th>/tr>/thead>tbody>tr>td>Dow Jones/td>td>0.49%/td>td>52,486.49/td>/tr>tr>td>S&P 500/td>td>1.31%/td>td>7,619.38/td>/tr>tr>td>Nasdaq Composite/td>td>1.60%/td>td>25,466.19/td>/tr>tr>td>Russell 2000/td>td>0.88%/td>td>2,846.26/td>/tr>/tbody>/table>

Insights From Analysts

BlackRock Investment Institute said the Democratic sweep in the U.S. midterms and its 2027 Outlook Forum reinforced that the AI story is shifting from buildout to demand, adoption and who benefits as competition for capital intensifies. It said the supply-driven regime it has described for five years is largely priced in, making the outlook "less directional and more nuanced," and warned that "A material slowdown in 2027, though far from certain, could have significant adverse market consequences."

The institute also said the uncertainty is two-sided, noting it could "ease competition for capital and lower bond yields," and that this backdrop "underpinned our move to neutral on U.S. equities and our upgrade of U.S. Treasuries last month." It added that participants debated whether AI financing needs could crowd out other borrowers and whether greater equity issuance could help hyperscalers manage leverage as the buildout continues.

Upcoming Economic Data

Here’s what investors will be keeping an eye on Thursday.

li>Initial Jobless Claims: Seasonally adjusted initial claims reached 200,000 for the week ending November 7, up 9,000 week-over-week. ​The previous week's initial claims level was revised slightly upward by 2,000 to 191,000./li> li>Existing Home Sales (MoM) data will be released by 10:00 a.m. ET./li> li>Fed's Michael Barr will speak at 10:00 a.m. ET. and Austan Goolsbee will speak at 11:30 a.m. ET./li> li>Crude Oil Inventories and Cushing Crude Oil Inventories data will be released by 12:00 p.m. ET. Fed's Mary Daly will speak at 1:10 p.m. ET./li> li>Federal Budget Balance data will be released by 2:00 p.m. ET and John Williams will speak at 6:30 p.m. ET./li>

Commodities, Crypto, And Global Equity Markets

Crude Oil WTI futures were trading lower in the early New York session by 0.15% to hover around $86.40 per barrel, meanwhile, Brent futures were trading higher in the early New York session by 0.11% to hover around $92.86 per barrel.

Gold Spot US Dollar fell 1.06% to hover around $3,936.24 per ounce. The U.S. Dollar Index spot was 0.01% higher at the 102.8873 level.

Bitcoin (CRYPTO: BTC) was trading 0.70% lower at $73,413 per coin, over the last 24 hours.

Asian markets were lower on Thursday, as Australia's ASX 200, India's Nifty 50, South Korea's Kospi, China's CSI 300, Hong Kong's Hang Seng, and Japan's Nikkei 225 indices fell. European markets were higher in early trading./p> div class="bz-read-next-block" data-variant="card" data-news-mode="manual" >

strong> Read Also: a href="https://www.benzinga.com/markets/market-summary/26/11/63172856/warren-buffetts-1979-warning-may-be-the-perfect-lesson-for-todays-ai-boom-says-howard-marks-uncertainty-actually-is-the-friend" target="_blank" rel="noopener"> Warren Buffett’s 1979 Warning May Be the Perfect Lesson for Today’s AI Boom, Says Howard Marks: ‘Uncertainty Actually is the Friend’/a> /strong> /p>

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