S&P 500 posts best week since August, up 2.5%, even as Nvidia slides
Markets, Stocks & S&P 500
By The WiseProp Trader Team |

S&P 500 posts best week since August, up 2.5%, even as Nvidia slides

The S&P 500 rose about 2.5% this week, its best week since early August, even though it slipped 0.4% to 7,561.67 on Friday 13 November, CNBC reported. The Dow gained 0.1% on Friday to 52,347.55 and about 2.1% for the week, while the Nasdaq Composite fell 0.91% on the day but still rose about 2.3% over five sessions.

It was a week dominated by one company. Nvidia’s chief executive Jensen Huang resigned on Thursday, and the market’s reaction to that shock, plus a fresh jump in bond yields, shaped almost every move. Yet the index still finished higher, which tells traders something about how broad the buying was.

Why did the S&P 500 rise this week?

The week opened with a strong rebound in chip stocks and big tech after a poor run. According to the Associated Press, it was the S&P 500’s first winning week since October, and the Nasdaq’s first weekly gain in five weeks.

Money did not just leave Nvidia; it moved to other parts of the market. AMD ended the week about 19% higher and Broadcom about 18% higher, based on closing prices, as investors bought Nvidia’s rivals (see our full story on AMD and Broadcom). Apple, seen as a safer tech holding, closed at a record high on Friday, which we cover in Apple’s record close at $356.27.

Baird’s Ross Mayfield summed up the mood on Friday, telling CNBC of the Nvidia news: “It hasn’t really changed the broad tenor of the market.”

What happened to Nvidia?

Nvidia said on Thursday that Huang had stepped down as president, CEO and board member, with finance chief Colette Kress as interim CEO, in a filing with US regulators. The shares fell 4.3% on Thursday and about 2% more on Friday, after HSBC downgraded the stock to Hold and cut its price target to $170 from $365, CNBC reported. CNBC also said Nvidia had lost more than $740 billion in market value between the previous Friday and Thursday’s close.

Because Nvidia is one of the largest weights in the S&P 500, a fall of that size drags on the index directly. The fact that the benchmark still gained 2.5% shows how much the rest of the market was carrying.

Why did stocks fall on Friday?

Inflation and interest rates. The US producer price index for October rose 0.3% on the month, slightly below the 0.4% economists expected, but 6.5% from a year earlier, the biggest annual rise since November 2022, according to CNBC. The 10-year Treasury yield rose to about 5.13%, and the CME FedWatch tool showed a near-certain Federal Reserve rate hike at the 9 December meeting, with an 87% chance of a quarter-point move.

Higher yields hit the most expensive growth stocks hardest. AMD fell 8.75% on Friday, giving back part of its weekly gain, The Motley Fool reported. The Dow, with more banks and industrial companies, held up best.

Which stocks moved the most on Friday?

  • Modine closed up almost 28% after Bloomberg reported Samsung is in talks to buy it. See our story on the Samsung-Modine talks.
  • Cerebras rose about 11% after a quarterly beat and a Microsoft deal. Details in our Cerebras earnings story.
  • Liftoff Mobile jumped 22% on a quarterly beat and solid guidance, CNBC said.
  • Steris rose nearly 4% after Jefferies upgraded it to Buy.
  • Cisco fell 6% despite beating first-quarter estimates and raising its full-year guidance, a reminder of how high expectations are.

What does the strong dollar mean for traders?

The US dollar index hit its highest level since April 2025 on Friday, CNBC reported, as markets priced in higher US rates. That matters for multinational companies in the S&P 500, which earn a large share of revenue abroad: a stronger dollar shrinks those overseas earnings when they are converted back. It has also weighed on assets such as bitcoin, which we covered in bitcoin’s slide below $69,000.

The dollar was the main theme on WiseProp Trader too. EUR/USD was the most traded market between Monday 9 and Friday 13 November, with 1,269 trades placed on WiseProp Trader by 72 traders, split 657 buys and 612 sells. GBP/USD was a distant third with 154 trades, behind BTC/USD’s 732. For the currency view, read our EUR/USD outlook as the dollar hits a 19-month high, or browse the Forex section.

What should traders watch next week?

  • Nvidia earnings, Tuesday 17 November. The first results without Huang as CEO. Investors want clarity on customer orders and spending plans.
  • The Anthropic IPO. The AI company plans to price on 18 November and start trading on 19 November under the ticker ANT, selling 825 million shares at $70 to $78 each, Yahoo Finance reported. A listing that size could draw money away from existing tech names.
  • Bond yields. A 10-year yield above 5% and a likely December rate hike are the biggest risks to stock valuations right now.
  • Breadth. If the index can keep rising while Nvidia lags, it suggests the rally is broadening, which is usually healthier for the market.

For daily coverage, follow our Markets and Stocks & S&P 500 sections.

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This article is for education and information only and is not financial advice. Figures are as reported by the sources linked above.

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