Stock futures decline as Nvidia shares fall, Trump says no deal needed with Iran: Live updates

Nebius shares plummeted in the premarket on Thursday after the neocloud’s third-quarter revenue topped analysts’ expectations, but its guidance disappointed investors.

The stock was last down almost 16%. That’s after it rose more than 15% in Wednesday’s regular session.

— Jordan Novet and Sean Conlon

Nvidia founder and CEO Jensen Huang’s future as head of one of the most important names in technology hangs in the balance following revelations that he had an affair with a woman who U.S. intelligence agencies say is a Chinese spy.

Analysts said his ouster could lead to a 20%-plus decline in the shares with the uncertainty that would follow overhanging the stock a bit longer after that.

CNBC Pro subscribers can read more here.

— Tobias Burns

“Jensen Huang is toast,” Bill Blain, founder and principal at Wind Shift Capital, said in his morning newsletter. “Nvidia’s dependence on Jensen Huang is now exposed as a major market risk. The dominant firm within the AI industry lacks clear succession planning and Huang was seen as the acceptable face of AI by the public.”

U.S. Treasury yields were mixed Thursday as bond trading resumed after the Veterans Day closure and investors looked ahead to fresh inflation and housing data for clues about the economy and the Federal Reserve’s next move.

The yield on the 10-year U.S. Treasury note — the benchmark for mortgages, auto loans and credit card debt — were flat at 4.9920%.

The 2-year Treasury note yield, which is more sensitive to short-term Federal Reserve interest rate decisions, was 3 basis points higher at 4.7568%. The longer-dated 30-year Treasury note yield — which often moves on geopolitical developments — was steady at 5.3403%.

— Hugh Leask

Nvidia shares fell on Thursday as the company’s board met to decide whether to remove Jensen Huang as CEO following reports that he had had two extramarital affairs.

Several Wall Street analysts told CNBC that if Huang is removed as CEO, this could lead the stock to fall 20%, given how critical he has been to Nvidia’s success. Nvidia’s stock is already down more than 20% over the last month.

Shares of Nvidia rivals AMD and Broadcom were up 3.9% and 3%, respectively, in premarket trading. Meanwhile, shares of chip stocks Intel, Marvell, Arm and Qualcomm were all trading lower.

Shares listed in Europe edged higher at the open, with the pan-European Stoxx 600 index adding 0.3% shortly after the bell.

Bucking the trend, the regional Stoxx 600 Technology index was down 1.3%. The sector was dragged lower by chip stocks in the wake of speculation Jensen Huang is set to be ousted as Nvidia CEO following news of another extramarital affair.

ASMI was 1.8% lower, ASML shed 3%, Be Semiconductor was down 1.6% and Infineon lost 3.8%.

— Chloe Taylor

“In our view the writing is on the wall that Jensen’s days at Nvidia could be numbered and we would expect this to be a very fluid situation over the next 48 hours,” renowned tech bull Dan Ives said in a note overnight.

“Jensen has created a black eye moment for himself and Nvidia and now has created a spider web of complexity that Wall Street, Silicon Valley, DC, and the global tech ecosystem are trying to figure out what is next.”

Ives, who founded Yorkville Ives & Co. earlier this year, was referring to the fallout from reports Nvidia CEO Jensen Huang had a second affair with an executive at the company, which followed news of an extramarital relationship with an alleged Chinese spy.

“We believe Nvidia’s value is $300 per share with Jensen as CEO and $225 per share without Jensen as CEO,” Ives said. “The stock will clearly be under pressure with this fluid news but the reality is its a dark day for Nvidia, but the company will navigate this turmoil and get through to the other side and remain a core foundational piece of the AI Revolution.”

— Chloe Taylor

Rolls-Royce reiterated its full-year profit and cash flow guidance Thursday as demand for power generation equipment used in data centers surged.

Order intake in its power systems business rose 62% in the first nine months of the year, as orders for gas engines nearly tripled year-on-year, driven by power demand from data centers, the company said in a trading update.

The unit’s order backlog at the end of September stood at a record £8.6 billion ($11.4 billion).

The British group highlighted strong demand across its power systems, civil aerospace and defense businesses, as it continues to expect underlying operating profit of between £4.7 billion and £4.9 billion in 2026.

In defense, it highlighted progress on military aircraft programmes, including the MQ-25A autonomous refuelling aircraft and the Global Combat Air Programme.

It also said demand remains strong across both widebody and business aviation, as its large engine order backlog grew to around 2,500 engines. 

“Given our strong progress this year, we will revisit our mid-term targets at our Full Year results in February,” said CEO Tufan Erginbilgic.

It also announced an interim £1.5 billion share buyback as part of an existing program through 2028.

— Elsa Ohlen

Asia-Pacific markets ended Thursday’s trading session in negative territory, with major indexes across the region posting losses 

Japan’s Nikkei 225 fell 0.70% to 60,819.36, though the broader Topix rose 0.20% to 3,937.33.

South Korea’s Kospi declined 0.61% to 5,342.73, while the small-cap, tech-focused Kosdaq fell 1.22% to 696.53.

Mainland China’s CSI 300 dropped 0.78% to 4,043.93, while Hong Kong’s Hang Seng was down 1.43% as of its last hour of trade. 

Australia’s S&P/ASX 200 ended flat at 9,146.8.

Major tech names part of the Nvidia supply chain in Asia, including South Korea’s SK Hynix, Taiwan’s TSMC, Japan’s Advantest fell as Nvidia board meets to decide Jensen Huang’s fate as the company’s CEO.

— Jenny Lee 

The U.K. economy grew 0.7% in the third quarter of the year, in line with estimates, driven by output in the services sector.

The figures showed a slight improvement from the previous quarter, when gross domestic product grew by 0.5%. In the first quarter, the economy grew by 0.6%.

Read more here.

— Chloe Taylor

Nvidia‘s Frankfurt-listed shares were down 7.1% in premarket trading on Thursday as the U.S. chip giant’s board gathered to decide the fate of CEO Jensen Huang following reports of two extramarital affairs.

Nvidia’s U.S. shares fell 8.6% in after-hours trading Wednesday.

— Hugh Leask

Shares of Sapporo Breweries rose 5.72% Thursday after the Japanese brewer announced plans to buyback shares

The company plans to repurchase up to 10 billion yen ($63 million) worth of shares, or up to 7 million shares representing 1.8% of its outstanding shares excluding treasury stock, between Nov. 12 and Feb. 10, 2027.

The beverage firm on Wednesday also reported an 83.2% year-on-year drop in operating profit to 2.62 billion yen ($16.4 million) for the first nine months of 2026.

— Jenny Lee 

Nissan Motor shares fell 5.22% in Tokyo on Thursday after the Japanese automaker reported a 96% year-on-year plunge in second-quarter operating profit and lowered its full-year global sales forecast.

The drop in operating profit was primarily due to the non-recurrence of benefit from lower U.S. emissions-related expenses seen last year, Nissan said.

The company reported Wednesday that its quarterly operating profit fell to 2.1 billion yen ($13 million), while cutting its sales outlook for the fiscal year ending March 2027 to between 2.97 million and 3 million vehicles, from 3.15 million previously.

Nissan CEO Ivan Espinosa told CNBC on Wednesday that the company plans to expand exports of China-developed vehicles to compete with Chinese rivals globally.

— Jenny Lee

Shares of South Korean internet giant Naver fell 5.89% on Thursday after the company reported a 20.9% year-on-year drop in third-quarter operating profit to 451.3 billion won ($338.1 million), while revenue rose 10.7% to 3.47 trillion won.

Naver attributed the decline in operating profit to increased investments in AI infrastructure, content and offline data aimed at strengthening its competitiveness.

The South Korean internet giant reported on Oct. 27 that it had signed a $9 billion deal with alternate investment firm Brookfield for AI infrastructure, which also paved the way for a strategic equity investment into the company by Nvidia.

— Jenny Lee 

Shares of K-Pop agency JYP Entertainment surged over 20% Thursday after its third quarter results beat revenue expectations.

The company also notched a record high revenue and gross profit figure. Revenue came in at 267.5 billion won ($200.32 million), 15% higher than the same period a year before and surpassing the 235.02 billion won estimated by LSEG.

Operating profit climbed 17.6% year on year to 48 billion won.

The results were driven mainly by boy group Stray Kids, which saw a “significant” expansion in album sales in the West.

The group also saw larger sales of merchandise in its world tour and fan meetings, as well as Stray Kids’ appearances in the Latin American region.

— Lim Hui Jie

Asia-Pacific markets were mixed early Thursday.

Japan’s Nikkei 225 was slightly higher in choppy trading, and the broader Topix index gained 0.62%. South Korea’s Kospi, which is dominated by Nvidia suppliers Samsung and SK Hynix, fell 0.35%. The country’s small-cap Kosdaq index dropped 0.66%.

Australia’s S&P/ASX 200 declined 0.31%.

— Jenny Lee 

Asia-Pacific markets were set to open mixed Thursday.

Futures for Japan’s Nikkei 225 in Chicago were at 61,760 while in Osaka they were last at 62,020, compared with the index’s previous close of 61,248.59.

Futures for Hong Kong’s Hang Seng index last traded at 24,107 compared with the index’s close of 24,315.92.

Australia’s S&P/ASX 200 was down 0.31% in early trade.

Nvidia shares dropped more than 9% in after-hours trading after The Wall Street Journal reported that the company’s board was preparing to oust CEO Jensen Huang.

— Jenny Lee 

The news landed minutes after The New York Times reported that Huang had an extramarital relationship with an executive at the company.

For more, read the full story here.

—Ashley Capoot

Futures tied to the Nasdaq-100 and the S&P 500 opened lower to begin trading on Wednesday night.

Futures tied to the tech-heavy Nasdaq-100 futures slid 0.9%, while S&P 500 futures fell 0.3%. Dow futures inched higher.

— Tanaya Macheel