Dow Futures Gain 500 Points as Oil Drops and Nvidia Probe Bites

Daniel Okafor

Dow futures gained about 500 points in the hi2morrow team’s November 9, 2026 TradingView research, while Brent crude fell 3.4% to roughly $94.9 a barrel. WTI dropped 2.8% to about $88.3, giving airlines and cruise operators an immediate lift.

SPY rose 4.74 points, or 0.64%, in premarket trading. Invesco QQQ Trust Series I rose 3.02 points, or 0.46%. The team showed banks and industrials leading the Dow futures. It also linked airline and cruise-line gains to a roughly 3% drop in oil.

What is driving the early move?

Trump told CNN that new strikes on Iran are “highly unlikely” if talks progress, the hi2morrow team said. Rubio said a breakthrough was not close and dismissed some Iranian demands as outrageous and ridiculous.

UAL, DAL, CCL and RCL rose as oil fell about 3%. JPM, GS, C, BAC, GE, BA and CAT led Dow futures, according to the team.

What does the Nvidia investigation mean for the AI trade?

CNBC, as cited by the hi2morrow team, reported that Nvidia’s board opened an investigation into CEO Jensen Huang’s relationship with a businesswoman whom U.S. intelligence agencies say is a Chinese spy. Huang told staff he had an affair with her.

Dan Ives told CNBC: “This is a black eye moment for Jensen,” the team said. Trump called Huang honorable, while China’s Foreign Ministry called the spy allegation unsubstantiated.

Nvidia fell with AI infrastructure names CRWV, NBIS, SKHY, SNDK and ARM. The team flagged CRWV’s Tuesday report and NBIS’s Thursday report as the next scheduled tests for AI infrastructure shares.

Amazon (AMZN), Meta Platforms (META), Alphabet (GOOGL), Microsoft (MSFT) and Broadcom (AVGO) rose as dip buyers shrugged off Nvidia’s woes.

Which deals and earnings changed the tape?

The hi2morrow team’s earnings and guidance screen showed gap-ups in NRG, CEG, TGTX, FERG, B, KKR, CNH, ROIV and AMG. It flagged gap-downs in IONS, MNDY, SGI, KSPI and RBA.

The team then detailed these company developments:

• Strathcona Resources plans to acquire Greenfire Resources (GFR) in a deal worth about $2 billion.
• Vir Biotechnology (VIR) said its pivotal Phase 3 ECLIPSE 1 trial in chronic hepatitis delta met its primary endpoint.
• NRG Energy agreed to sell six natural gas plants to LS Power for $4 billion in cash. It plans $3 billion of buybacks across 2026–2027.
• QXO reported preliminary third-quarter net sales of about $4.90 billion, up 79% year over year. Adjusted EBITDA was about $557 million, up 85%.
• Oppenheimer said AMD’s server and data-center success was undeniable, lifting the shares. JPMorgan upgraded SAP as AI moved from pilot to production.
• ASTS rose ahead of third-quarter results after the close. AKAM announced a proposed offering of convertible senior notes.

Where did sector rotation go?

The team’s sector notes mapped gains across chips, metals and European banks:

• ASX, UMC, TSM, ASML, AMAT, LRCX and KLAC rose outside Nvidia. Taiwan’s Taiex gained 4.94% to 41,664.7, its biggest gain since July 31, on short-sale curbs and a NT$500 billion support fund.
• Copper and gold miners gained as copper rose 1.5% and gold rose 1.1%. The team listed TECK, SCCO, FCX, BHP, RIO, AA, MT, NEM, AEM, WPM, CDE and KGC.
• European bank ADRs rose after UniCredit’s record quarter. The team listed SAN, BBVA, DB, ING, BCS and HSBC.

What macro calendar could change the session?

The team listed a dense U.S. schedule of Federal Reserve speeches, one wholesale inventory release, an inflation-expectations reading and a three-year Treasury note auction:

• 08:40: Fed Bowman speech.
• 10:00: Fed Goolsbee speech and September wholesale inventories.
• 11:00: October NY Fed Consumer Inflation Expectations.
• 12:15: Fed Barkin and Fed Bowman speeches.
• 13:00: 3-year note auction.
• 15:00: Fed Goolsbee speech.

The team reported Friday’s close: Nasdaq +1.09%, S&P 500 +0.31% and Dow -0.46%. Across Asia, the Nikkei rose 2.33%, while the Kospi fell 0.81%.

UniCredit’s third-quarter net profit rose a record 24% to €3.3 billion, and the bank raised guidance. Crédit Agricole proposed merging its Italian unit with Banco BPM.

For China, the team reported October producer-price inflation of 5.7%, above the 5.3% expected. Consumer-price inflation rose 0.7%, below the 0.8% expected.

Gold gained 1.1% to about $4,118, and silver rose 1.6%. Bitcoin traded near $74,350 after falling below $74,000 over the weekend, its lowest level since August.

The team listed BMNR, MSTR and CRCL as crypto-linked decliners.

What comes next?

For the week ahead, the hi2morrow team scheduled CPI for Tuesday and PPI on Friday. Those prints will test whether the oil-led advance can broaden, while Nvidia’s investigation and two AI infrastructure reports keep the semiconductor trade under scrutiny.