Nvidia Sinks 12.75% as S&P 500 Posts Best Week Since August | US Weekly Wrap.zip Nov 9-13

U.S. Daily Brief
By BriefZip Editorial
US Weekly Wrap.zip briefing for the week of Nov 9-13 2026

The S&P 500 gained 2.5% between Nov 6 and Nov 13, its best week since early August, even as Nvidia shares lost 12.75% in the week Jensen Huang resigned as chief executive. Nearly all of that gain came on Monday. October consumer prices ran hotter than expected, a December rate hike stayed fully priced, CoreWeave jumped 24.71% on its earnings, and a nationwide ground stop froze US airports for more than four hours on Friday.

Cover card for the week of Nov 9-13 2026 listing five stories: best week since August for Wall Street, Nvidia down 12.75% as Jensen Huang resigns, a hot CPI keeping a December hike in play, CoreWeave jumping before Anthropic's IPO, and a nationwide ground stop at US airports

Key numbers for the week:

  • S&P 500: 7,561.67, up 2.5% from the Nov 6 close of 7,376.86
  • Nasdaq Composite: 25,136.27, up 2.3% from 24,579.42
  • Dow Jones Industrial Average: 52,347.55, up 2.1% from 51,285.73
  • Nvidia: $162.85, down 12.75% from $186.64
  • October CPI: up 0.4% on the month, core up 0.3%
  • October PPI: up 0.3% on the month, up 6.5% on the year
  • Anthropic IPO: 825 million shares at $70 to $78 each

A Monday rally did most of the work

S&P 500 at 7,561.67, up 2.5% for the week, Nasdaq at 25,136.27, up 2.3%, and the Dow at 52,347.55, up 2.1%, the best week for all three since early August

All three major US indexes finished the week higher. The S&P 500 added 184.81 points, the Dow gained 1,061.82 points and the Nasdaq Composite rose 556.85 points, according to the Associated Press weekly tally. CNBC and Investopedia reported it was the best weekly performance for each index since early August, and AP said it was the market's first winning week since early October. The prior week had been brutal: the S&P 500 fell 2.68% and the Nasdaq dropped 3.37% in the week ended Nov 6, as we covered in last week's US Weekly Wrap.

The daily path tells a different story from the weekly total. Here is how each session closed:

DayS&P 500NasdaqDow
Mon Nov 97,549.94 (+2.35%)25,253.14 (+2.74%)52,389.75 (+2.15%)
Tue Nov 107,520.93 (-0.38%)25,065.87 (-0.74%)52,231.89 (-0.30%)
Wed Nov 117,619.38 (+1.31%)25,466.19 (+1.60%)52,486.49 (+0.49%)
Thu Nov 127,592.40 (-0.35%)25,366.09 (-0.39%)52,297.09 (-0.36%)
Fri Nov 137,561.67 (-0.40%)25,136.27 (-0.91%)52,347.55 (+0.10%)

By our calculation, the S&P 500 rose only about 0.16% from Monday's close to Friday's close, and the Nasdaq actually fell about 0.46% over those four sessions. In our reading, the week was a big Monday rebound followed by four days of digesting a hot inflation report, a strong AI earnings print and Nvidia's leadership crisis. Tuesday's drop came as the hotter-than-expected CPI revived rate-hike worries, Wednesday's gain was led by CoreWeave and a rebound in Nvidia, and Friday's slide was concentrated in chip stocks, Yahoo Finance reported.

Nvidia loses its founder CEO and 12.75% of its value

Nvidia card: Jensen Huang resigned as CEO and director on Nov 12, CFO Colette Kress became interim CEO, and shares fell from $186.64 to $162.85, down 12.75%, a sixth straight weekly loss

Nvidia said on Nov 12 that Jensen Huang had resigned as president, chief executive and a member of the board, effective immediately. Chief Financial Officer Colette Kress became interim CEO while keeping the CFO role, and Harvey C. Jones became the company's first board chair. The board had accepted the resignation on Nov 11, according to the company's filing with the Securities and Exchange Commission. The Wall Street Journal and Bloomberg reported the decision followed reports of extramarital relationships and a board investigation; we walked through the full sequence in our timeline of Huang's resignation.

The stock fell on four of five days. It closed at $178.67 on Monday (down 4.27%), $168.89 on Tuesday (down 5.47%), $173.73 on Wednesday (up 2.87%), $166.19 on Thursday (down 4.34%) and $162.85 on Friday (down 2.01%). That is a 12.75% weekly loss, which CNBC also reported, and a sixth straight weekly decline, the longest streak since 2012 according to CNBC and MarketWatch. Yahoo Finance reported Nvidia's market value closed below $4 trillion on Friday.

By our calculation, the gap between the Nasdaq's 2.3% gain and Nvidia's 12.75% loss was about 15 percentage points in a single week. In our reading, investors treated Nvidia's management problem as a company-specific risk rather than a verdict on AI spending, which is why CoreWeave and the broader index could rise at the same time. The next test is Nvidia's third-quarter report, due Nov 17 at 1:20 p.m. Pacific time, the first set of results under interim leadership.

October inflation runs hot and keeps a December hike in play

Inflation card: October CPI up 0.4% month over month against 0.3% expected, core CPI up 0.3% for a third month, PPI up 0.3% on the month and 6.5% on the year, and a December quarter-point hike fully priced

The Bureau of Labor Statistics said on Nov 10 that the Consumer Price Index rose 0.4% in October, after 0.6% in September. Economists polled by Reuters had expected 0.3%. Core CPI, which strips out food and energy, rose 0.3% for a third straight month. The BLS did not publish a 12-month rate because October 2025 prices were not collected during the government shutdown. We covered the release in our Nov 10 brief on the hot October CPI.

That core number mattered because of what Fed Governor Christopher Waller said the same day. In a speech in London, Waller said that if core CPI came in around 0.3% or higher, the Fed should consider a half-point increase in December rather than a quarter point. In our reading, the actual 0.3% reading met his condition.

Producer prices sent a mixed signal on Friday. The Producer Price Index for final demand rose 0.3% in October, below the 0.4% forecast reported by Yahoo Finance and Charles Schwab, but it was up 6.5% from a year earlier, the largest 12-month increase since November 2022. The PPI measures the prices businesses receive for goods and services, so it often shows cost pressure before it reaches consumers. CME FedWatch showed at least a quarter-point hike in December fully priced in, Reuters reported.

AI money keeps moving: CoreWeave and Anthropic

AI card with the CoreWeave and Anthropic logos: CoreWeave posted Q3 revenue of $3.66 billion, up 168%, and a $132.5 billion backlog, shares rose 24.71% on Nov 11, and Anthropic plans to sell 825 million shares at $70 to $78

While Nvidia struggled, the companies that rent out its chips posted strong numbers. CoreWeave, which runs data centers packed with Nvidia graphics processors and leases computing power to AI developers, reported third-quarter revenue of $3.66 billion, up 168% from $1.365 billion a year earlier. It guided 2026 revenue to $13.0 billion to $13.3 billion, and CNBC reported its backlog of contracted work at about $132.5 billion.

By our calculation, that backlog is roughly 10 times the top of this year's revenue guidance. The stock jumped 24.71% on Nov 11, the session after the report.

Anthropic, the maker of the Claude AI models, set an initial public offering of 825 million shares at $70 to $78 each and applied to list on the Nasdaq Global Select Market under the ticker ANT. By our calculation, the deal would raise about $57.8 billion to $64.4 billion. Its amended registration statement also says AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC agreed to buy $26 billion of a separate share class at the IPO price, which would bring the total to about $83.8 billion to $90.4 billion. CNBC reported, citing people familiar with the matter, that pricing is expected on Nov 18 and trading on Nov 19.

A four-hour ground stop at every US airport

Aviation card: the FAA ordered a nationwide ground stop on Nov 13 after communications problems at air route traffic control centers, lasting about 4 hours 20 minutes, with more than 4,700 US flights canceled that day

On Friday afternoon the Federal Aviation Administration ordered a nationwide ground stop, halting departures from every US airport, after communications problems at multiple air route traffic control centers. The order was issued at 3:53 p.m. Eastern time and lifted at 8:15 p.m., about 4 hours and 20 minutes. Transportation Secretary Sean Duffy said about 3,500 aircraft were in the air when it began and blamed overloaded legacy systems, while the Department of Homeland Security said there was no evidence of a cyberattack.

Reuters reported, citing Flightradar24, that more than 4,700 flights within the US were canceled on Nov 13. A ground stop holds planes on the ground but lets flights already in the air continue, so the backlog spilled into the weekend: Bloomberg reported about 3,500 cancellations as of 7:15 a.m. New York time on Saturday, based on FlightAware data.

What to watch next week

Next week in Korea time: Empire State manufacturing on Nov 16, retail sales on Nov 17, Nvidia Q3 results on Nov 18 at 6:20 a.m., FOMC minutes on Nov 19, Philadelphia Fed survey on Nov 19, Anthropic's expected Nasdaq debut and Michigan sentiment on Nov 21

The calendar is busy. In US Eastern time, the Empire State manufacturing survey comes Monday, Nov 16, and October retail sales come Tuesday, Nov 17, both at 8:30 a.m. Nvidia reports after the close on Nov 17, and the Fed releases minutes from its last meeting on Wednesday, Nov 18, at 2 p.m. Anthropic's Nasdaq debut is expected Thursday, Nov 19, the same day as the Philadelphia Fed manufacturing survey, and the University of Michigan's November sentiment reading follows on Friday, Nov 20.

Key terms

  • Ground stop: an order that keeps flights from taking off, while planes already in the air continue to their destinations.
  • Core CPI: the Consumer Price Index excluding food and energy, which the Fed watches for underlying inflation.
  • Backlog: revenue a company has signed contracts for but not yet recognized.

Bottom line

The S&P 500 gained 2.5% for the week, but by our calculation almost all of it came on Monday, and Nvidia fell 12.75% as Jensen Huang left. Nvidia's Nov 17 results and Anthropic's expected Nov 19 debut are the two events most likely to set the tone for AI stocks next week.

Sources: BLS October CPI release, NVIDIA CEO transition announcement, FAA statement on the nationwide ground stop

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