Stock Market S&P 500 Edges Up as Chips Rebound After Huang Exit
The S&P 500 and Nasdaq Composite edged higher in Thursday morning trading in New York as chip stocks recovered from an early selloff following Nvidia CEO Jensen Huang's resignation. The Dow also rose, despite renewed worries about Iran.
The S&P 500 and the Nasdaq Composite edged higher in Thursday morning trading on Wall Street, as chip stocks recovered from an early selloff that followed the resignation of Nvidia (NASDAQ:NVDA) Chief Executive Jensen Huang. The stock market S&P 500 benchmark, which tracks 500 of the largest US-listed companies, regained ground as semiconductor shares steadied.
The session began unevenly for technology stocks. Investors were weighing what a leadership change at one of the industry's best-known companies could mean. Market live blogs reported Nvidia shares down 5% after the news, while AMD climbed.
Chip shares then helped both indexes recover. The Nasdaq Composite, which is heavy with technology companies, rose alongside the S&P 500.
The Dow Jones Industrial Average, a gauge of 30 large US companies, also advanced. It rose even as renewed concern about Iran weighed on sentiment.
AI worries beyond one company
The move came amid a wider debate over whether enthusiasm for artificial intelligence can keep supporting economic growth. Heather Long, chief economist at Navy Federal Credit Union, said a slowdown in AI posed the biggest risk to the economy and growth heading into 2027.
Long described November as a difficult period for the sector. She pointed to tensions around the midterm elections, opposition to data center projects and Huang's departure.
Her comments suggest that concerns about AI reach past one company's leadership. Investors are also watching the technology's broader economic and political backdrop.
The reports on Thursday's session did not give closing levels for the indexes, nor did they say who will succeed Huang or why he resigned. Trading was still under way when the reports were published.
