News report 📈 Stocks 🌍 United States

US Futures Slip as Fed Rate Hike Odds Hit 87% and Nvidia CEO Steps Down

Dow, S&P 500, and Nasdaq 100 futures decline as traders price in an 87% chance of a December Fed rate hike, while Nvidia navigates a leadership transition after CEO Jensen Huang stepped down.

📅 November 13, 2026 🕐 1 min read

4 assets impacted (Stocks). Net bias: 0 Bullish, 4 Bearish, 0 Neutral. Strongest signal: NDX ↓ 5/10 (70% confidence).

📊 Affected Assets (4)

NDX

Bearish 🤖 70%

⚡ Intraday 🌍 US · Explicit

Nasdaq 100 futures dropped 0.30% to around 28,300, the largest decline among US futures, hit by both rate-hike expectations and leadership turmoil at Nvidia, a key index heavyweight. The Nasdaq Composite already fell 0.39% on Thursday.

Catalysts

▼ Higher December rate-hike odds (~87% for 25bp) following hot CPI data
▼ Nvidia CEO Jensen Huang stepping down, pressuring AI-heavy tech sentiment

Risk Factors

▲ Nvidia shares rebounded nearly 1% in after-hours trading, which could soften the drag
▲ Friday's PPI report could come in benign and lift tech shares

NVDA

Bearish 🤖 60%

📅 Short-term 🌍 US · Explicit

CEO Jensen Huang stepped down following reports of extramarital affairs, creating leadership uncertainty at the company, though CFO Colette Kress stepped in as interim CEO. Shares had lost ground Thursday but rebounded nearly 1% in after-hours trading, so the market reaction is mixed rather than clearly negative.

Catalysts

▼ CEO Jensen Huang's departure announced amid reports of extramarital affairs
▼ CFO Colette Kress appointed interim CEO; shares rebounded ~1% after hours

Risk Factors

▲ Shares already recovered nearly 1% in after-hours trading
▲ An experienced interim CEO is in place, potentially limiting disruption

DJI

Bearish 🤖 70%

⚡ Intraday 🌍 US · Explicit

Dow futures fell 0.15% to around 52,310 after hot CPI data and Waller's comment that a 50-basis-point hike should be considered lifted December rate-hike odds to nearly 87%. Thursday's 0.36% decline adds negative momentum, but Friday's PPI report could reverse the move.

Catalysts

▼ December 8-9 Fed meeting with ~87% priced odds of a 25bp hike and 13.13% odds of a 50bp hike
▼ Friday's October PPI report, headline expected +6.6% year-on-year and core +5.0%

Risk Factors

▲ A softer-than-expected PPI reading could ease hike expectations and lift prices
▲ Futures decline of only 0.15% is modest, suggesting limited panic

SPX

Bearish 🤖 70%

⚡ Intraday 🌍 US · Explicit

S&P 500 futures slipped 0.16% to near 7,600 as hotter CPI readings pushed traders to price nearly 87% odds of a December Fed hike. The index already lost 0.35% on Thursday, and inflation concerns point to continued pressure into Friday's PPI release.

Catalysts

▼ Nearly 87% market-implied odds of a 25bp Fed hike at the December 8-9 meeting
▼ Friday's PPI data (headline expected +6.6% y/y, core +5.0%)

Risk Factors

▲ PPI coming in below forecasts could relieve rate-hike pressure
▲ Only a 0.16% futures decline so far

🧭 Full analysis of these assets

🎯 Key Takeaways

Dow futures fell 0.15% to 52,310, while S&P 500 futures dropped 0.16% and Nasdaq 100 futures declined 0.30%.
CME FedWatch data shows an 87% probability of a 25-basis-point rate hike at the December 8-9 meeting.
Nvidia CEO Jensen Huang stepped down, with CFO Colette Kress appointed as interim CEO.
Investors await October PPI data, with headline inflation expected to rise 6.6% year-on-year.

📝 Executive Summary

US stock futures are trading lower on Friday as investors digest persistent inflation concerns and a potential Fed rate hike in December. Market sentiment is further pressured by leadership uncertainty at Nvidia following the resignation of CEO Jensen Huang, though shares showed a slight recovery in after-hours trading.

❓ FAQ

NDX · Why is the Nasdaq falling more than other indexes?

Tech-heavy indexes are hit twice: by higher expected Fed rates and by uncertainty around Nvidia's leadership after CEO Jensen Huang stepped down, with CFO Colette Kress becoming interim CEO.

NVDA · What happened to Nvidia's leadership?

CEO Jensen Huang stepped down following reports of extramarital affairs, and CFO Colette Kress has taken over as interim CEO.

NVDA · How did the stock react?

Nvidia shares fell on Thursday but rebounded nearly 1% in after-hours trading as investors assessed the leadership transition.

DJI · Why are Dow futures down on Friday?

Stronger-than-expected CPI data and Fed Governor Waller's remark that a 50-basis-point hike should be considered if core inflation stays elevated raised December rate-hike expectations, weighing on equity futures.

DJI · What data could change the picture today?

Friday's US Producer Price Index report: October headline PPI is expected to rise 6.6% year-on-year and core PPI 5.0%.

SPX · What is weighing on the S&P 500?

Persistent inflation concerns and growing expectations that the Fed will raise rates in December, reinforced by hot CPI data and Waller's comments supporting a possible half-point hike.

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