The PrimeFlow Desk · Thursday, November 12, 2026
On Wednesday the chip-stock index jumped 5.7%. Overnight, the biggest name in that trade became the story for a reason that has nothing to do with chips. Reports late Wednesday said Nvidia’s board met to discuss the future of its longtime chief executive, Jensen Huang. Nvidia is one of the largest companies in the S&P 500, so if you own an index fund, you own a slice of that boardroom.
Where the market closed on Wednesday, November 11, 2026
- S&P 500: 7,619.38, up 1.31%
- Dow: 52,486.49, up 0.49%
- Nasdaq: 25,466.19, up 1.60%
- Chip-stock index (PHLX Semiconductor): 10,564.11, up 5.66%
- 10-year Treasury yield: 4.98% (Tuesday’s close; the bond market was closed for Veterans Day)
- Brent crude oil: $92.76 a barrel, up 1.39%
Changes are against Tuesday’s close. Wednesday was a clean up day: all three major indexes closed higher, and the chip stocks led by a wide margin.
Why Nasdaq futures are lower this morning
As of early this morning, no decision had been announced. Nvidia was down about 6% before the opening bell, and futures on the Nasdaq 100 were down about 0.8%. Dow futures were roughly flat.
Moves like this show up first in the hours before the opening bell, and our plain guide to premarket trading explains how those early prices work and why they can change by 9:30.
Wednesday’s rally stood on numbers. CoreWeave, which rents out computing power for artificial intelligence, posted third-quarter revenue of $3.66 billion, and its stock rose about 25%. This morning’s drop isn’t about sales or orders. It’s about who runs the company whose chips much of that computing runs on.
My view
On Wednesday I called the rally a strong day, not a verdict. The same goes the other way. A boardroom question doesn’t change how many chips customers ordered last quarter. I’d watch whether the rest of the chip group holds most of Wednesday’s gains while Nvidia sorts this out.
What it means for you
A large share of an S&P 500 or Nasdaq index fund sits in a handful of technology giants, so a rough morning for one of them shows up in your balance. Savers should watch the bond market instead: the 10-year Treasury yield, the rate that steers mortgage quotes, last closed at 4.98% on Tuesday, and today is its first chance to move since.
Mornings like this one get decided early. The 40 Minutes That Matter is what our desk teaches every new trader first: a workshop and two one-page cheat sheets, The Level Map and The Session Clock. It normally sells for $49. You can have it for one payment of $7.
Get The 40 Minutes That Matter for $7 →
Also on the Desk
Oil eased. Brent crude settled at $92.76 a barrel on Wednesday, up 1.4%, and was near $92.15 early this morning.
Gold slipped below $4,000. Gold futures closed Wednesday at $4,000.50 an ounce and were near $3,952.90 early this morning.
Jobless claims land at 8:30. Last week’s Labor Department count was 189,000 new claims, for the week ending October 31.
On the calendar (Eastern time)
- Thursday, Nov 12, 8:30 AM: weekly jobless claims (Labor Department)
- Thursday, Nov 12: the bond market reopens after Veterans Day
- Thursday, Nov 12, after the close: Cisco and Applied Materials report
- Friday, Nov 13, 8:30 AM: October producer prices (Labor Department)
From the trade log
As of 12 November 2026, the public log stands at 533 closed alerts: 512 wins, 17 losses and 4 breakeven. That’s a 96.8% win rate. See every closed alert on the log →
Be ready before the bell,
Christopher
Editor, PrimeFlow Trades
PrimeFlow Trades publishes market commentary and trade alerts for education. Nothing here is personal investment advice. Trading stocks involves risk, including the loss of money. Past results, including those on our public trade log, do not guarantee future results.
