S&P 500: Tech rally offsets post‑CPI selloff – Deutsche Bank

FXStreetNov 12, 2026 8:02 AM

View all comments（0）



Deutsche Bank’s Early Morning Reid highlights a sharp rebound in US equities, led by AI‑linked and semiconductor names after CoreWeave’s strong earnings. The Philly Semiconductor Index and Nasdaq surged, lifting the S&P 500 back above pre‑midterm levels. However, after‑hours news about Nvidia’s CEO saw its stock drop 8.6%, pulling Nasdaq and S&P futures lower again.

AI and chips drive volatile gains

"The crazy whipsawing post midterms continued yesterday as after the post-CPI selloff on Tuesday, markets bounced back again over the last 24 hours, as the positive momentum from CoreWeave’s (+24.71%) earnings drove a sharp rally in tech stocks."

"So the Philly semiconductor index (+5.66%) helped drive the S&P 500 (+1.31%) back above its levels before the midterm elections. Who said markets didn't always go up after midterms! And over in Europe, both the STOXX 600 (+0.72%) and the DAX (+1.20%) moved up to fresh records."

"However, the current volatility in the tech trade continues this morning as the WSJ reported after the US closing bell that the Nvidia board are planning to oust CEO Jensen Huang after the last few days of stories around him have surfaced. Their stock fell -8.6% in after-hours trading, which has pushed Nasdaq (-1.09%) and S&P (-0.45%) lower. So a big deal for one of the largest companies in the world."

"Those upbeat earnings from CoreWeave were a boon for tech and chip stocks, with the Philly Semiconductor Stock Exchange up +5.66%, while the Nasdaq Composite (+1.6%) also climbed."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Jensen Huang Abruptly Steps Down, Nvidia Pares 14% Intraday Plunge, Stock Seen Rebounding Toward $190

TradingKey - On November 12, Eastern Time, Nvidia (NVDA) shares experienced sharp volatility following the sudden resignation of CEO Jensen Huang. NVDA gapped down sharply at the open, touching an intraday low of $148.80 and falling roughly 14% from the previous trading day at one point, before staging a notable rebound to close at $166.19, down 4.34%. Full-day trading volume reached approximately 748 million shares, expanding substantially compared to recent average levels.

Bitcoin Drops Below $70,000, May Log Sixth Straight Weekly Loss, Risking Slide Toward $65,000

TradingKey - As of the Asian trading session on November 13, Bitcoin (BTC) extended its decline, briefly falling below $70,000 intraday to reach a low of $69,150, marking a nearly three-month low. Higher-than-expected U.S. inflation data, rising expectations of a December Federal Reserve rate hike, and persistent net outflows from spot Bitcoin ETFs have collectively constituted the primary headwinds facing the cryptocurrency market recently.

Gold Price Forecast: Gold Tumbles Below $3,900 as Trump Says No Need for Iran Deal; Can October PPI Spur a Rebound?

TradingKey - As of the Asian session on Friday (November 13), gold prices (XAUUSD) rebounded intraday following a sharp drop on Thursday, with the latest price trading near $3,910. On Thursday, gold tumbled 2.76% to close at $3,877.41, confirming a breakdown below the $3,900 mark and touching a low of $3,852.27, hitting a fresh nearly one-year low. The decline in gold was primarily driven by renewed Middle East tensions pushing up international oil prices, coupled with persistently elevated U.S. inflationary pressures, which continue to weigh on gold's short-term trajectory.

Gold Slumps 3% Below $3,900: What Is Causing the Continued Decline in Gold Prices?

On November 12, Eastern Time, spot gold (XAUUSD) dropped more than 3% intraday to $3,864 per ounce, hitting its lowest level since October of last year. Higher-than-expected U.S. inflation data, coupled with successive hawkish signals from Federal Reserve officials, drove the U.S. dollar higher and kept investment demand for gold under sustained pressure.

US October PPI Preview: Fed Rate Hike Expectations Rise, PPI May Be Key Variable; How Will US Stocks, Dollar, and Gold Move?

TradingKey - On Friday (November 13) Eastern Time, the U.S. will release the October Producer Price Index (PPI). Following October's CPI once again exceeding expectations, the market will look to the PPI to further assess whether price pressures on the U.S. production side are spreading, as well as the likelihood of the Federal Reserve raising interest rates by 25 basis points or 50 basis points in December.

Featured Tools