Stocks fluctuated as investors assessed the broader market fallout from Jensen Huang’s ouster at Nvidia Corp. while awaiting Friday’s US producer-price data that may offer fresh clues on the path of Federal Reserve interest rates.
Futures for the S&P 500 Index swung between gains and losses while those for the Nasdaq 100 slipped 0.2%. European contracts pointed to declines at the open.
A gauge of Asian equities was down 0.3% after rising as much as 1.1% in morning trade. Yields on Japanese and Australian bonds jumped, tracking a sharp selloff in Treasuries on Thursday as traders bet on faster Fed rate hikes.
Shares of Nvidia, the chipmaker at the heart of the global artificial intelligence boom, plunged more than 14% on Thursday before dip buyers stepped in, cutting the loss to 4.3% by the close.
Longtime Chief Financial Officer Colette Kress is taking the job of interim chief executive officer, Nvidia said, and Huang will no longer have ties with the firm. The firm is due to report third-quarter earnings on Tuesday.
