Live: Wall Street roars despite Nvidia spy slump, ASX set to rise

Tue 10 Nov 2026 at 7:12amTue 10 Nov 2026 at 7:12amMarket snapshotASX 200 futures: +1% to 9,135 pointsAustralian dollar: flat at 69.26 US centsDow Jones: +2.4% to 52,502 pointsS&P 500: +2.5% to 7,562 pointsNasdaq: +2.8% to 25,282 pointsFTSE: +1% to 10,782 pointsEuroStoxx: +1.2% to 656 pointsSpot gold: +1.7% to $US4,145/ounceBrent crude: -6.7% to $US91.65/barrelIron ore: flat $US92.71/tonneBitcoin: +0.1% to $US74,825Prices current around 7:15am AEDT.Live updates on the major ASX indices:Tue 10 Nov 2026 at 7:51amTue 10 Nov 2026 at 7:51amWall St jumps back as oil slide eases inflation worriesBig night on US markets. Here's a quick summary:S&P on track for biggest daily gain in seven monthsNvidia down as company probes foreign intelligence effort claimsKKR up after record quarterly profitUS stocks rallied on Monday, as a drop in oil prices tempered inflation fears and helped the S&P 500 bounce off its biggest weekly drop since April 2025, and tech shares jumped even as AI heavyweight Nvidia slumped with controversy swirling around CEO Jensen Huang.Last week, stocks slumped after a sweeping victory by Democrats in the US midterm elections fed concerns that new regulations could dent the durability of the AI trade.Each of the 11 major S&P 500 sector indexes rose on Monday. Industrials and consumer discretionary were the top performers, rising more than 3%.Nvidia falls despite broader gainsMarkets were in rally mode even as Nvidia, the second most valuable company in the world, tumbled about 6% and hit its lowest intraday level since March 31, on questions about CEO Huang's future at the AI chipmaker, after an internal investigation into whether a foreign intelligence effort had targeted him.Here's the take of Ken Polcari, partner and chief market strategist at SlateStone Wealth in Jupiter, Florida:"The AI story is not going away if people are worried about that, the Democrats are not going to destroy AI. They can't. It's got a life of its own. They can put regulation around it, but they're certainly not stopping it."Providing further support was a sharp drop in crude oil prices that helped dampen concerns about price pressures, as US President Donald Trump downplayed the likelihood of renewed strikes on Iran. "Oil prices for sure, if they're down 4%, that's certainly adding fuel to the fire," said Polcari. The Dow Jones Industrial Average rose 1,131.81 points, or 2.21%, to 52,417.54, the S&P 500 gained 177.81 points, or 2.41%, to 7,554.67 and the Nasdaq Composite gained 656.06 points, or 2.67%, to 25,235.49.The S&P was on track for its biggest daily percentage gain since April 8 while the Nasdaq was on pace for its best day since July 30. Inflation readings are on the docket this week as the Labor Department will release its Consumer Price Index report for October on Tuesday and Producer Price Index on Friday.Analysts see over-reactionSome analysts on Wall Street also viewed last week's decline as an overreaction. Morgan Stanley and UBS said last week's rout in AI stocks was overdone, and the risks of extreme regulation of data centre developments under a Democratic-controlled Congress were unlikely to play out.But there are other challenges. Fears of a December rate hike persisted following October's stronger than expected jobs data.Chipmakers surged. The Philadelphia Semiconductor Index rose more than 6% after plunging more than 12% last week, its biggest weekly drop since the week ended April 4, 2025. Nvidia was the sole decliner in the index, while Broadcom was up nearly 9%, and Advanced Micro Devices surged about 13% as the two biggest boosts.Shares of investment giant KKR advanced 1.9% after its quarterly profit hit a record high. Constellation Energy, an energy firm with exposure to the AI buildout, shot up more than 10% after its adjusted third-quarter profit surpassed expectations.Berkshire Hathaway's class A shares gained 0.6% after the conglomerate reported lower third-quarter profit.- ReutersTue 10 Nov 2026 at 7:38amTue 10 Nov 2026 at 7:38amExplainer: Nvidia spy affair affairWhat's going on?If you want quick answers on what's happened since the chief executive of the world's most valuable company and a close ally of Donald Trump admitted to an affair with a woman suspected of being a Chinese spy - check out this ABC explainer of what we know so far.Tue 10 Nov 2026 at 7:13amTue 10 Nov 2026 at 7:13amNvidia spy scandal: hot chips and illicit affairsBombshell story from yesterday, still dominating world news.Nvidia, the company at the centre of the global AI build-out, has launched an independent investigation after reports its CEO Jensen Huang was allegedly targeted by a Chinese intelligence operation.That's one way of putting it, with the CEO admitting he had an affair outside of his marriage.What could the allegations, and the investigation now underway, mean for one of the world’s most valuable companies?Carrington Clarke and ABC Business reporter Stephanie Chalmers break it all down on the most recent episode of Business Daily.Overnight Nvidia shares fell 5.2% to $177.09 in the wake of the scandal.Tue 10 Nov 2026 at 7:08amTue 10 Nov 2026 at 7:08amLet's get crackingHello, I'm Daniel Ziffer from the ABC business team and I'll be taking you through the morning on our business, finance and economics blog.Overnight, Wall Street indices roared.The blue-chip Dow Jones of 30 mega-companies like Boeing and Visa was +2.4% to 52,502 points.The broader S&P 500 that covers 500 of the largest listed companies in the US +2.5% to 7,562 points.The tech-heavy Nasdaq was +2.8% to 25,282 points.That's despite a Nvidia shares falling 5.2% to $177.09 in the wake of the spy scandal engulfing the CEO Jensen Huang.These numbers are live, and trading is continuing, we’ll update you when there’s a firm closing price.Our market is set to follow the US lead with the ASX 200 futures index tipping a lift of +1% or 87 points to 9,135 points.There’s lots to get to, all of it news, analysis and information and none of it financial advice.Let’s get started!