Dow Rallies as Nvidia Fallout Fails to Rattle Wall Street

Stocks are shaking off an ugly open Thursday as investors look past Nvidia (NVDA) CEO Jensen Huang's shocking departure. No fewer than four Wall Street firms have downgraded the stock, citing concerns over an ongoing board investigation and the lack of a clear succession plan. The Dow Jones Industrial Average (DJI) is up 110 points, with Alphabet (GOOGL), Amazon.com (AMZN), and Microsoft (MSFT) leading the way.

The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also sporting modest gains, as investors rotate into Nvidia rivals Advanced Micro Devices (AMD) and Broadcom (AVGO). Meanwhile, existing home sales came in at its lowest reading in 16 years, falling 5.5% to 3.75 million for the annual adjusted rate in October.

Continue reading for more on today's market, including:

• MSCI is set to ditch Bitcoin-focused Strategy stock.
• Which blue-chip stocks are reporting earnings next week.
• Plus, DAL bulls rush in; more on AVGO today; and AI hardware stock slipping.

Delta Air Lines Inc (NYSE:DAL) is seeing heavy options attention after the airliner yesterday secured a contract with Virgin Australia to provide TechOps support for its fleet of 737 aircrafts. Roughly 161,000 contracts have changed hands, which is 3.9 times the average intraday amount. The December 95 call is seeing the most attention while the 105 call in the same series trails close behind. DAL was last seen down 2.4% to trade at $89.10. DAL is up 27% for 2026.

Broadcom Inc (NASDAQ:AVGO) stock is trading higher, last seen rising 5.9% to trade at $365.67, one of the Nasdaq's top performers today, after Nvidia CEO Jensen Huang resigned, with investors rotating into rival chipmakers. Goldman Sachs also added the stock to its semiconductor "top picks" list. Today's gains put AVGO on track for a fifth straight win while the stock carries a 5% year-to-date gain.

Super Micro Computer Inc (NASDAQ:SMCI) is trading sharply lower, down about 9%, one of the worst performers on the Nasdaq as Huang’s resignation hits chip-dependent hardware names. SMCI is looking to log a fifth declining session out of seven while shares are down 24.9% year over year. Added overhead pressure has stemmed from the descending 10-day moving average as well.