US Pre-Market 12 November 2026: Nasdaq 100 Futures -0.76% as Nvidia Falls 7.50% on CEO Reports
Sentiment: bearish S&P 500 futures: -0.34%
Nasdaq 100 futures are -0.76%, S&P 500 futures -0.34% and Dow futures +0.14% at 7:21am ET on 12 November 2026, after reports that Nvidia's board is weighing whether to remove chief executive Jensen Huang. NVDA.US is -7.50% at $160.70 at 7:31am ET, from a $173.73 close, and the AI cloud names that led Wednesday's rally are lower: CRWV.US -9.49% and NBIS.US -8.21%. Health care is the higher group before the open, with LLY.US +2.74% and XLV.US +1.15%.
Overnight drivers
- NVDA.US -7.50% to $160.70. The New York Times reported that Huang had a relationship with Kimberly Powell, the Nvidia vice president who runs its health care business, and The Wall Street Journal reported the board is preparing to remove him as chief executive, per CNBC. The board met on Thursday, per CNBC. Nvidia shares fell 8.6% after hours on Wednesday, per CNBC, and Frankfurt-listed shares are down 7.1%.
- AI cloud: CRWV.US -9.49% to $55.00 after a 24.71% gain on Wednesday. NBIS.US -8.21% to $141.99 after Nebius reported third-quarter revenue of $980.8 million at 7:11am ET, up 571% from $146.1 million a year earlier, and its first quarterly operating profit, $50.4 million. Previews had put revenue near $907.5 million, per ScanX. Capital spending was $7.30 billion in the quarter.
- Chip and hardware stocks: SNDK.US -5.74%, STX.US -4.12%, MU.US -3.81%, WDC.US -3.81% and MRVL.US -3.31%. SOXX.US is -2.23% after a 6.01% gain on Wednesday, while AMD.US is +1.69% to $562.23 and AVGO.US +0.60%.
- Large tech: AAPL.US +0.54% and AMZN.US +0.48%, against META.US -0.74%, TSLA.US -0.90%, GOOGL.US -0.29% and MSFT.US -0.27%. QQQ.US is -0.94% and SPY.US -0.46%.
- MSTR.US -5.91% to $115.12 after MSCI said it will remove Strategy from its global indexes, per Reuters via Investing.com. Bitcoin is -1.43% to $72,766, and COIN.US -3.50%.
- Breadth: 175 large caps are higher before the open and 193 lower, out of 373 with a pre-market price at 7:31am ET.
- Rates and the Fed: CME FedWatch prices a December hike as certain, with about a 10% chance of a half-point move, per Reuters. The 10-year Treasury yield is 4.998%, up from Tuesday's 4.983% close after Wednesday's bond-market holiday, and the 2-year yield is up 3 basis points to 4.757%, per CNBC.
- Commodities and dollar: December WTI -0.87% to $85.78 and Brent -0.64% to $92.17. December gold -1.19% to $3,952.90, silver -1.83% to $51.05 and copper -1.14%. DXY is flat at 102.91.
- VIX: 18.21, up 4.12%.
Overnight Asia and Europe
Japan's Nikkei 225 closed -0.70% at 60,819.36 on 12 November 2026, as Nvidia suppliers fell after the reports on Huang. SoftBank Group fell 3.04% and Tokyo Electron rose 0.35%; the broader Topix gained 0.20% to 3,937.33, per CNBC. Nissan fell 5.22% after a 96% drop in quarterly operating profit, per CNBC.
South Korea's KOSPI closed -0.61% at 5,342.73 and the Kosdaq -1.22% at 696.53, per CNBC. TSMC fell 2.30% in Taipei to 2,340 Taiwan dollars. The Hang Seng closed -1.26% at 24,008.55, and Shanghai fell 0.67% to 3,655.83. Naver fell 5.89% after third-quarter operating profit dropped 20.9%, per CNBC.
The STOXX 600 is +0.39% at 665.65 at 7:16am ET, with the DAX +0.76% at 26,866.58, the CAC 40 +0.67% and the FTSE 100 +0.35%. The STOXX 600 technology index fell 1.3% at the open, with ASML -3% and Infineon -3.8%, per CNBC. UK third-quarter GDP rose 0.7%, in line with estimates, and Rolls-Royce held its 2026 operating profit guide at 4.7 billion to 4.9 billion pounds and announced a 1.5 billion pound buyback, per CNBC.
Pre-market movers
CRWV.US falls furthest of the names below at -9.49% at 7:31am ET on 12 November 2026, and LLY.US leads the gainers at +2.74%.
| Ticker | Pre-market | Reason |
|---|---|---|
| LLY.US | +2.74% | Unannounced, likely flow-driven. |
| AMD.US | +1.69% | Unannounced, likely flow-driven. |
| AMGN.US | +1.07% | Health care higher; JNJ.US +0.95%, MRK.US +0.95% |
| MU.US | -3.81% | Fell with chip stocks after an 11.89% gain on Wednesday |
| BABA.US | -4.32% | Unannounced, likely flow-driven. |
| SNDK.US | -5.74% | Fell with memory and storage; STX.US -4.12% |
| MSTR.US | -5.91% | MSCI to remove Strategy from its global indexes |
| NVDA.US | -7.50% | Reports the board is weighing Huang's removal as CEO |
| NBIS.US | -8.21% | Q3 revenue $980.8 million, up 571%; capex $7.30 billion |
| CRWV.US | -9.49% | Fell with Nvidia after a 24.71% gain on Wednesday |
US economic calendar today (ET)
Initial jobless claims at 8:30am ET on 12 November 2026 are the first US data print since October CPI rose 0.4% on Tuesday; last week's reading was 189,000, per Yahoo Finance.
- 8:00am: Nebius third-quarter results call.
- 8:30am: Initial jobless claims (prior 189,000).
- 9:30am: NYSE and Nasdaq open.
- 10:00am: October existing home sales.
- After the close: AMAT.US fourth-quarter results.
Wednesday on Wall Street
The S&P 500 closed at 7,619.38 on 11 November 2026, up 1.31%, as chip stocks rallied after CoreWeave raised its 2026 revenue forecast and MU.US gained 11.89%.
- S&P 500: 7,619.38 (+1.31%)
- Nasdaq: 25,466.19 (+1.60%)
- Dow: 52,486.49 (+0.49%)
- Russell 2000: 2,846.26 (+0.88%)
- VIX: 17.49 at the close, now 18.21
Nasdaq 100 futures at -0.76% would take back about half of Wednesday's 1.60% Nasdaq gain, and Russell 2000 futures are -0.03%.
What to watch
- Thu 12 Nov: any statement from Nvidia's board after Thursday's meeting.
- Thu 12 Nov, after the close: AMAT.US fourth-quarter results.
- Fri 13 Nov, 8:30am ET: October producer prices, the next inflation print after Tuesday's CPI.
- Tue 17 Nov, after the close: NVDA.US third-quarter results.
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