Bitcoin Breaks $70,000, MUFG Posts Record Profit, Nvidia Rebounds

Bitcoin fell below $70,000 for the first time since August, dragging crypto-linked stocks lower as Wall Street futures still pointed to a winning week. S&P 500 futures (SPY) traded up 2.05 points, or 0.27%, pre-market, while Invesco QQQ (QQQ) held flat at +0.04, or 0.01%, according to pre-market data compiled on Nov. 13, 2026 by the hi2morrow team.

The tape was anything but quiet beneath the surface. Nvidia (NVDA) rebounded after Thursday's 4.3% plunge triggered by CEO Jensen Huang's resignation; the board named CFO Colette Kress interim CEO. AMD and Broadcom slipped after rallying on Nvidia's turmoil — AMD had jumped 30% this week, IBT reported.

What's moving on earnings?

Cerebras Systems (CBRS) lifted Q3 revenue 55% as cloud inference overtook hardware sales, and raised its full-year outlook. Mizuho (MFG) posted a 47% jump in first-half profit and hiked its annual outlook. Sumitomo Mitsui (SMFG) traded lower despite H1 net income above ¥1 trillion, a raised ¥1.9 trillion full-year forecast and ¥220 billion of added buybacks.

MUFG (MUFG) delivered the day's headline number: a record H1 net profit of ¥1.63 trillion, up 26%, a raised full-year target of ¥2.8 trillion, and a buyback of up to ¥200 billion. Nu Holdings (NU) rose after strong Q3 results, with its CEO saying new banking status makes the proposition "even more compelling." Wise (WSE) lifted its revenue outlook on jumping first-half customer numbers and payment volumes.

The losers were just as instructive:

• Cisco (CSCO) fell despite record Q1 results and a raised FY27 outlook — order growth slowed sharply, per Earnings Whispers.
• Applied Materials (AMAT) slipped despite record Q4 revenue as AI-driven chip equipment demand accelerates.
• Korea Electric Power (KEP) saw Q3 operating profit fall about 71% to 1.64 trillion won, roughly 38% below forecasts; shares dropped 9% in Seoul.
• York Space Systems (YSS) missed estimates as a $750 million impairment and pushed-out awards weighed.
• Flowers Foods (FLO) traded lower on earnings.

Earnings-driven gap-ups included Liftoff Mobile (LFTO), Newsmax (NMAX), Cerebras (CBRS), HawkEye 360 (HAWK), Wise (WSE), Nu (NU), Mizuho (MFG) and MUFG.

Where are the deal and drug stories?

Modine Manufacturing (MOD) soared after Bloomberg reported Samsung is in talks to buy the data center cooling firm. Biotech added two more data points: Sellas Life Sciences (SLS) surged after calling its upcoming Phase 3 AML results "transformative," and Rezolute (RZLT) reported positive Phase 3 upLIFT results in tumor hyperinsulinism while pricing a roughly $100 million stock offering. Candel Therapeutics (CADL) tumbled after delaying its prostate cancer FDA application, and Vir Biotechnology (VIR) priced a public offering of common stock.

What's pressuring the broader tape?

Several cross-currents hit at once:

• Microsoft (MSFT) fell as a global Microsoft 365 outage disrupted Outlook and Teams.
• Stifel downgraded Lowe's (LOW) to sell from hold, cutting the price target to $190 from $195, citing housing weakness and margin pressure.
• China tech fell — Alibaba (BABA), Baidu (BIDU), NetEase (NTES) — as Nvidia fallout fueled fears of tighter U.S. chip curbs.
• Memory names slipped: SK Hynix (SKHY) and Micron (MU).
• Cybersecurity rose: Palo Alto Networks (PANW), CrowdStrike (CRWD), Zscaler (ZS), Okta (OKTA), Fortinet (FTNT), Cloudflare (NET), SailPoint (SAIL).
• Mega caps gained: Alphabet (GOOGL) and Amazon (AMZN).
• Crypto stocks sank with bitcoin: Strategy (MSTR), Coinbase (COIN), Robinhood (HOOD), BitMine Immersion (BMNR), Circle (CRCL).

The 10-year Treasury yield held near 5.12%; Bloomberg's headline read: "Treasury Yield Surge Shatters Hopes Worst of Bond Rout Is Over." The dollar sat near a 19-month high on Fed hike bets, with the yen testing 160.

What's on deck?

Friday's calendar is packed: October PPI and Core PPI at 08:30, EIA natural gas storage at 10:30, Fed speeches from Bowman (10:50), Daly (12:00) and Jefferson (19:00), and the Baker Hughes rig count at 13:00.

Three items frame the week ahead. Jensen Huang and Commerce Secretary Howard Lutnick were summoned to testify on Capitol Hill in a push for an Nvidia inquiry; Nvidia reports Q3 results on Nov. 17. Anthropic's IPO ran about six times oversubscribed, with 825 million shares at $70–$78 expected to start trading on Nov. 19. Goldman Sachs set an 8,700 target on the S&P 500 for end-2027.

Who is Windward Bio?

Swiss biotech Windward Bio (WWB) priced its IPO at $17.00 — the midpoint of the $16–$18 range — selling 10.29 million shares to raise about $174.9 million, or roughly $225 million including a concurrent private placement. That values the company near $986.7 million despite an LTM net loss of $68.2 million. Windward develops ultra-long-acting anti-TSLP antibodies for asthma, COPD and atopic dermatitis; listed comparables include Amgen (AMGN), Upstream Bio (UPB) and Apogee Therapeutics (APGE).

Commodities and macro rounded out the picture: the IEA said the global oil market swung to surplus on Gulf exports, with WTI near $88.4, while China's credit growth disappointed despite greater policy support.

With Nvidia's numbers due Nov. 17 and Anthropic's debut set for Nov. 19, the market gets two more high-stakes reads on the AI trade within a week.