Stocks trim gains as wholesale inflation rises; Nvidia swings after CEO exit

qz.com —

Stocks pared gains on Friday after October's wholesale inflation rose 0.3% monthly and 6.5% annually, though all three major indexes remain on track for weekly gains of about 2% to 3%. The monthly increase fell short of economists' 0.4% forecast, but the annual gain was the largest since November 2022. Nvidia stock swung between gains and losses following Jensen Huang's exit as CEO, with CFO Colette Kress serving as interim leader. Nvidia's fiscal third-quarter earnings are due Tuesday, and Anthropic shares are expected to begin trading Thursday. Oil prices rose after President Trump's comments on Iran, with WTI above $89 and Brent above $96.


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