S&P 500 Gains 2.51% for the Week as Chip Stocks Rebound and Nvidia's CEO Resigns; Modine +40%
S&P 500 week close: 7,561.67 (+2.51%) Nasdaq Friday close: 25,136.27 (-0.91%) Sentiment: mixed
The S&P 500 closed the week ending 13 November 2026 at 7,561.67, up 184.81 points or 2.51%, ending four weekly declines per IBTimes, as chip stocks recovered from the prior week's sell-off and SOXX.US gained 9.35%. NVDA.US fell 12.75% for the week after its board opened an investigation into Jensen Huang and he resigned as chief executive on Thursday, while AMD.US gained 18.93% and AVGO.US 18.16%. October CPI rose 0.4% against a 0.3% forecast, and the 10-year Treasury yield climbed 29.5 bps to 5.154% as markets priced a December Fed rate hike.
The week on Wall Street
The S&P 500 gained 2.35% on Monday 9 November 2026, its largest move of the week, to 7,549.94. AMD.US rose 13.26% after an Oppenheimer upgrade and SOXX.US 7.49%, while NVDA.US fell 4.27% after Nvidia's board said independent directors would investigate reports about Huang. Advancers led decliners 418 to 80. Tuesday gave back 0.38% to 7,520.93 after the CPI report lifted the 10-year yield 11.9 bps to 4.983% and NVDA.US fell another 5.47%.
Wednesday added 1.31% to 7,619.38, the week's high close, after CoreWeave raised its 2026 revenue forecast to $13.0 billion to $13.3 billion. CRWV.US rose 24.71% that day, MU.US 11.89% and ORCL.US 8.82%, and 20 chip stocks added about 84 bps of the 131 bps gain. Thursday lost 0.35% to 7,592.40 after Nvidia said Huang had resigned and named finance chief Colette Kress interim CEO; NVDA.US fell as much as 14.35% before it closed 4.34% lower. Friday lost another 0.40% as AMD.US gave back 8.75%.
The Nasdaq Composite ended the week at 25,136.27, up 2.27%, and the Dow gained 2.07% to 52,347.55. The Russell 2000 rose 1.32% to 2,790.49, and RSP.US, the equal-weight S&P 500 fund, gained 2.37%, 14 bps behind the index. MU.US rose 12.80% for the week, CRWV.US 14.50%, TSLA.US 8.93% and META.US 5.17%, while MSFT.US fell 1.27% after Anthropic announced workplace tools that compete with Office, per CNBC. The major averages had their best week since August, per CNBC.
Sector scorecard (5-day)
Energy (XLE.US) rose 5.42% in the week to 13 November 2026, the best of the 11 SPDR sector funds, while materials (XLB.US) gained 0.54%, the smallest rise; all 11 funds closed the week higher.
- Best: Energy (XLE.US) +5.42%, after it rose on all five days even as December WTI fell 2.50% for the week to $88.56.
- 3.76% was the industrials (XLI.US) gain, with CAT.US up 7.44%; communication services (XLC.US) added 3.72% as META.US rose 5.17%.
- XLK.US gained 3.36% and SOXX.US 9.35%, while SMH.US rose 4.91%.
- Worst: Materials (XLB.US) +0.54%, as December gold fell 4.63% to $3,886.30 and NEM.US lost 4.92% on Thursday alone.
- Dispersion (best minus worst): 4.88 pts.
Real estate (XLRE.US) added 0.84% as the 10-year yield rose above 5%. Financials (XLF.US) gained 2.66%, with GS.US up 5.86% and JPM.US 3.50%.
Top movers, week ending 13 November
| Ticker | Week | Reason |
|---|---|---|
| MOD.US | +40.42% | Bloomberg reported Samsung takeover talks; Samsung could not confirm |
| AAON.US | +40.32% | Q3 sales $707.4 million, up 84.1%; 2026 sales growth guide raised |
| LFTO.US | +34.80% | Q3 net income $86.7 million; 2026 revenue outlook raised |
| LQDA.US | +29.30% | Q3 Yutrepia sales $222.7 million; United Therapeutics lawsuits settled |
| FRVO.US | +27.46% | Q3 loss of 7 cents beat 9 cents expected |
| IBRX.US | -30.28% | Q3 Anktiva sales $48.7 million, below forecasts |
| BZ.US | -26.57% | Unannounced, likely flow-driven. |
| IONS.US | -26.28% | Cut 2026 Tryngolza sales forecast to about $50 million |
| LEGN.US | -25.21% | Q3 revenue $359.5 million, slightly below estimates |
| HIMS.US | -24.12% | Q4 revenue guide $875 million to $895 million, below estimates |
MOD.US rose 27.86% on Friday alone and plans new financial targets at its 18 November investor day, per StockTitan. BZ.US opened Thursday at $13.95 against a $16.72 close and reports third-quarter results on 25 November. LEGN.US executives cited slower gains in earlier-line US patients and international launch delays, per Defense World. BABA.US fell 13.77% for the week as the US weighed curbs on Chinese access to AI chips overseas, per Yahoo Finance, and NBIS.US fell 10.51% after a report that Microsoft is reviewing its contracts with AI cloud providers, per Benzinga.
Friday US session
- S&P 500: 7,561.67 (-0.40%)
- Nasdaq: 25,136.27 (-0.91%)
- Dow: 52,347.55 (+0.10%)
- VIX: 19.30 (+3.21%)
The S&P 500 fell 30.73 points on Friday 13 November 2026 as the PHLX Semiconductor Index lost 3.43% and SOXX.US 3.67%. AMD.US dropped 8.75% after a 44.7% rise over the previous five sessions, and DELL.US fell 7.18% after a report traced 22 of its servers with restricted Nvidia chips to a Shanghai data center, per Benzinga. CSCO.US lost 6.24% as its adjusted gross margin fell to 63.7% from 65.5%. The index opened at 7,601.30, fell to 7,499.40 and closed 62.27 points above that low.
XLP.US gained 1.42% and XLF.US 0.81%, and RSP.US rose 0.20% while the S&P 500 fell, so the loss sat in the largest technology stocks. Advancers led decliners 270 to 186. LFTO.US rose 30.63% on its third-quarter results. Bitcoin fell 4.49% to $68,252, below $70,000 for the first time this week, and MSTR.US ended the week down 13.43%.
Macro themes that played out
The Bureau of Labor Statistics reported on Tuesday 10 November 2026 that October CPI rose 0.4% against a 0.3% forecast, with core prices up 0.3% against 0.2%, per CNBC. October producer prices rose 0.3% on Friday against a 0.4% forecast, and the annual rise reached 6.5%, the highest since November 2022, per IBTimes. Initial jobless claims rose 9,000 to 200,000 on Thursday against 195,000 expected, and October existing home sales fell 5.5% to a 3.75 million annual pace, the lowest since August 2010, per StockTitan.
Fed Governor Christopher Waller said on Tuesday he leans toward a 25 bp hike in December and that 50 bp should be considered, per Yahoo Finance. Dallas Fed President Lorie Logan said the Fed needs at least two more quarter-point increases, and San Francisco Fed President Mary Daly and Boston Fed President Susan Collins both said further tightening would be needed. CME FedWatch priced at least a 25 bps hike at the 8 to 9 December meeting by Friday, with about a 10% chance of 50 bps, per IBTimes. The 10-year yield rose from 4.859% to 5.154% over the week and the 30-year closed at 5.481%. DXY gained 1.09% to 103.41.
Week ahead, Monday to Friday (ET)
- Mon 16 Nov 8:30am: November Empire State manufacturing index; Tyson Foods results, per CNBC.
- Tue 17 Nov 8:30am: October retail sales and import and export prices; industrial production at 9:15am.
- Tue 17 Nov: Home Depot and Disney results; Nvidia reports after the close, its first quarter without Huang. Analysts expect earnings of $2.47 a share on $108.73 billion of revenue, per Seeking Alpha.
- Wed 18 Nov: October housing starts at 8:30am and FOMC minutes at 2:00pm; Target, Lowe's, TJX and Palo Alto Networks report; Anthropic expects to price its IPO at $70 to $78 a share, per CNBC.
- Thu 19 Nov: Initial claims and the Philadelphia Fed index at 8:30am; Walmart, Intuit and Ross Stores report; Anthropic expects to begin trading on Nasdaq under ANT, per CNBC.
- Fri 20 Nov 10:00am: Final November University of Michigan consumer sentiment.
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