Week in Review: Stocks snap a four-week slide as Nvidia steals the show

The S&P 500 rose 2.5% and the Nasdaq 2.3% in the best week since early August, even as Nvidia fell about 13% after its chief executive resigned.

The week in numbers

Figures are for the week ended Friday, Nov 13, 2026. Index data come from Investopedia and CNBC; yields, oil and gold from CNBC and Reuters. The S&P 500 gained 184.81 points on the week, its best since the week of August 3, and all three major indexes posted their first weekly gains in five weeks.

What drove markets

1. Nvidia loses its chief executive

The week’s biggest story was Nvidia. Jensen Huang resigned as chief executive on Thursday, November 12, after 33 years leading the company he co-founded. The board named chief financial officer Colette Kress interim chief executive the same day. Nvidia shares fell more than 13% at Thursday’s open before closing down 4.3% at $166.19, then slipped another 2.0% on Friday to $162.85 after HSBC cut the stock to hold and lowered its target to $170 from $365. For the week the stock was down 12.8%, its worst week since April 2025, its sixth straight weekly decline — the longest since 2012 — and it has lost about 30% of its value since the slide began in early October, roughly $1.7 trillion in market value, CNBC reported. Its market value closed below $4 trillion for the first time since July 2025.

Money did not leave chips altogether. AMD rose 18.9% for the week and Broadcom 18.2%, even after both fell sharply on Friday — AMD down 8.75% and Broadcom down 4.76% — and the PHLX Semiconductor Index still finished the week up 8.1%. Through Thursday, AMD had gained about 30% for the week and Broadcom about 24%, Yahoo Finance reported, as investors bet that customers would spread orders beyond Nvidia. Cisco fell 6% on Friday even after reporting strong quarterly results, Investopedia reported.

2. Inflation keeps the Fed hike on the table

Inflation set the rates backdrop. October consumer prices rose 0.4% from September, above the 0.3% economists expected, while core prices rose 0.3%, the Bureau of Labor Statistics reported. October producer prices rose 0.3% from September, less than the 0.4% expected, but 6.5% over 12 months, the highest since November 2022. The 10-year Treasury yield closed the week at 5.15%, and traders price a Federal Reserve rate hike at the December 9 meeting as a certainty, with 89% odds of a 25-basis-point move, according to CME FedWatch.

3. A ground stop, and a broad rally

Late Friday, the Federal Aviation Administration halted all departing flights nationwide, citing a temporary telecommunications outage at air traffic control centers. The stop was later lifted. The rally was broad: all 11 S&P 500 sectors finished higher for the week, led by energy, up about 5.4%, even as crude oil fell. Industrials rose about 3.7%, communication services about 3.7% and technology about 3.3%, despite the late-week chip selling. On Friday, 7 of the 11 sectors finished higher, led by consumer staples, while technology lagged, the Associated Press reported.

Sectors and notable stocks

Energy stocks rose even as oil fell. The International Energy Agency said global oil markets returned to surplus for the first time since the Middle East conflict began, with Russian crude output rebounding to 8.73 million barrels a day in October. U.S. West Texas Intermediate futures settled at $88.56 a barrel on Friday, down from $90.83 a week earlier, while Brent crude settled at $95.84.

Gold fell below $4,000 an ounce and finished the week down 3.5%, Reuters reported, as the dollar index rose to 103.18, its highest since April 2025. Bitcoin fell below $68,000 on Friday, its lowest since August 19, as some analysts linked the slide to investors raising cash for Anthropic’s $64.4 billion IPO, though others pointed to rates, ETF outflows and leverage. The Justice Department said it obtained court authorization to seize or restrain more than $1.2 billion in cryptocurrency stolen from Binance in a theft of more than $6 billion that the FBI blames on North Korean hackers.

Modine Manufacturing jumped almost 28% on Friday after Bloomberg reported that Samsung is in talks to buy the data center cooling maker, a deal that could come together in the coming weeks. Reuters, which reported the Bloomberg account, said it could not immediately verify the report, and neither company has confirmed the talks. Apple added 0.4% on Friday to finish at a new record closing high, Investopedia reported, while Microsoft shares inched higher as the company reported progress in resolving a massive outage.

What to watch next week

Next week brings the two biggest tests of the autumn: Nvidia’s earnings and the big retailers’ reports, plus the main October reading on the U.S. consumer.

Nvidia is the week’s headline. FactSet estimates see the company earning $2.47 a share, up 90% from a year earlier, on sales of $108.7 billion, up 91%, Investor’s Business Daily reported, slightly above the company’s own guidance of about $108 billion. It is the first report under interim chief executive Colette Kress, and the first earnings call without Jensen Huang. The retail reports come as the holiday season approaches: Walmart, Target, Home Depot and Lowe’s together give one of the best snapshots of U.S. spending. Investor’s Business Daily noted Target’s analysts expect a 16.5% rise in earnings per share on a 4.6% revenue gain, while Walmart is expected to post low single-digit earnings and revenue growth. October retail sales are forecast to show little change from September, when they rose 0.8%. The Federal Reserve’s minutes land Wednesday, ahead of its December 8-9 meeting, at which traders price a rate hike as a certainty. Earnings dates are set by each company and can move. Consensus figures above are analyst estimates, not reported results.

Sources

• Investopedia, 2026-11-13
• CNBC, 2026-11-13
• Investor's Business Daily, 2026-11-14
• Reuters, 2026-11-13
• Yahoo Finance, 2026-11-13
• Federal Reserve, 2026-11-14
• Bureau of Labor Statistics, 2026-11-10