Signals

Jensen Huang quit as Nvidia's chief executive on November 12 amid an affair scandal with spy concerns, leaving an interim CEO and requests from Congress for him to testify. Cloud companies that rely on one chip supplier may spread orders to other chipmakers. That would help Advanced Micro Devices and hurt Nvidia.

US existing-home sales fell in October to their lowest level since 2010, as mortgage rates near 7% kept buyers away. Fewer purchases mean fewer people moving and furnishing a new place. That may weigh on Williams-Sonoma's furniture sales and project spending at Lowe's, though both were still growing and how much depends on movers is not yet known.

Spain's first general strike in 14 years, on November 11, was driven by anger over rents. On November 12, Congress passed a decree that taxes tourist-rental flats, which could hurt Airbnb's Spanish business. The People's Party says it will repeal it if it wins on November 29. How much is at stake is not known.

CoreWeave raised its 2026 revenue forecast and secured funding through customer prepayments, convertible bonds, and new credit lines. That makes its $37–39 billion spending plan more likely, supporting orders for Nvidia's AI chips and Micron's memory.

Trump said on November 8 that new US attacks on Iran are highly unlikely, and oil fell further. Jet fuel is made from crude, so cheaper oil should lower fuel bills. That helps airlines Delta and United, while oil producers lose.

Nvidia's board opened an investigation into CEO Jensen Huang's affair with a woman reported to have spied for China, and the shares fell. The doubts reach Nvidia itself: who leads it, and whether Washington acts. Nvidia is hurt if either question turns against it.