U.S. stock futures advance as investors look past Nvidia selloff

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U.S. stock futures advance

Highlights

Dow Jones Industrial Average futures rise 96 points, or 0.18%.
Nvidia leadership change weighs on stocks.
Wall Street heads for strong weekly gains.

According to CNBC, major U.S. stock indexes remained on track for their strongest weekly gains since early August. December futures for the Dow Jones Industrial Average rose 0.18%, to 52,486, while S&P 500 futures gained 0.29%, to 7,637.50. Nasdaq-100 futures advanced 0.20%, to 28,442.50.

Nvidia leadership shake-up weighs on technology stocks

The modest recovery in futures followed Thursday's decline across all three major U.S. indexes. Nvidia was among the biggest sources of pressure after shares fell 4.3% following the departure of founder and CEO Jensen Huang amid reports about his personal conduct and a potential national security concern.

Chief Financial Officer Colette Kress has taken over as interim chief executive while Nvidia's board searches for a permanent replacement. The company is considering both internal and external candidates.

The leadership change has raised questions about Nvidia's strategic direction at a time when its chips remain central to artificial intelligence investment. Some analysts have warned that uncertainty surrounding the transition could expose the stock to a correction of as much as 20%.

Oil prices and inflation data remain in focus

Energy markets added to Thursday's selling pressure. Brent crude rose more than 3% to settle at $95.82 a barrel after President Donald Trump signaled little interest in reaching an agreement with Iran, reinforcing concerns about a prolonged conflict.

Higher oil prices have complicated the inflation outlook by increasing transportation and production costs. That has made incoming economic figures particularly important for investors assessing the Federal Reserve's next policy decision.

Friday's October producer price index report is expected to show wholesale prices rising 0.4% from September and 6.6% from a year earlier, according to economists surveyed by Dow Jones.

Weekly gains face a fresh test

Despite Thursday's losses, the Nasdaq was heading for a weekly advance of 3.2%, while the S&P 500 was on track to gain 2.9%. The Dow Jones was positioned for an increase of nearly 2%, putting all three indexes on course for their best week since early August.

The combination of rising energy costs, persistent inflation, and uncertainty at Nvidia could still challenge the recovery. Friday's inflation figures will help determine whether investors can sustain the week's gains or begin reassessing the outlook for interest rates and technology valuations.

We also reported gold prices rebound from 13-month low as major investors return.

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