CoreWeave Sparks an AI Rebound on Wall Street, Then Nvidia Slides After Hours as Its Board Weighs Huang’s Future; Riyadh Leads the Gulf and Muscat Jumps 1.3%

Takeaway: US stocks rallied on Wednesday, with the bond market closed for Veterans Day. CoreWeave jumped 24.7% after its beat-and-raise quarter eased worries about debt-funded AI spending, and the Philadelphia Semiconductor Index rose 5.7%. The S&P 500 gained 1.31% to 7,619.38, the Nasdaq 1.60% to 25,466.19 and the Dow 0.49% to 52,486.49. Nvidia rose about 2.9% in regular trading, but after the close it fell roughly 8–9% following a Wall Street Journal report that its board was preparing to oust CEO Jensen Huang; the board was meeting late Wednesday and no decision had been announced at the time of writing. Brent settled 1.39% higher at $92.76 after Iran said it would not send enriched nuclear material abroad, and gold slipped just below $4,000. In the Gulf, TASI rose 1.38% to 10,308.37, its highest close in nearly a month, Qatar fell 0.51%, and the MSX 30 climbed 1.30% to 7,374.08 — the region’s second-best gain — as Omantel reported a 56% rise in nine-month group profit.

What happened

1) Wall Street Wednesday: CoreWeave lifts the AI trade

Close (Reuters; AP; The Closing Print): Dow 52,486.49 (+254.60 / +0.49%); S&P 500 7,619.38 (+98.45 / +1.31%); Nasdaq Composite 25,466.19 (+400.31 / +1.60%). Stocks traded normally while the US bond market was closed for Veterans Day (Reuters; Yahoo Finance).
CoreWeave +24.7%, its biggest one-day gain in more than three months, after Tuesday’s results and a raised 2026 revenue outlook of $13.0–13.3 billion; the company also said it expects to turn profitable on an adjusted basis in the first half of 2028 (Reuters; TradingKey).
Chips led: the SOX rose 5.7% to its highest close since 3 November, with every component higher, and the S&P 500 technology sector gained 2.7% (Reuters; The Closing Print). Micron rose about 11.9% and AMD 7.32% to $552.90 (TradingKey; The Motley Fool). Nebius added 15.4% (Reuters).
Volatility eased: the VIX fell for a fourth straight session to 17.49, a one-week low (Reuters; The Closing Print). The dollar index climbed to its highest level in about a year and a half (Barchart; The Closing Print).
Fed pricing: after Tuesday’s hot October CPI, markets fully price a hike of at least 25 bp at the 8–9 December meeting, with the chance of a 50 bp move put at about 10% (Reuters, citing CME FedWatch).

2) Nvidia after the bell: a leadership question, not a product one

Nvidia closed about 2.9% higher at $173.73 in regular trading (The Motley Fool; TradingKey), snapping a two-day slide.
After the close, The Wall Street Journal reported that the board was preparing to oust Huang, and the board met late Wednesday to decide his future (Reuters; CNBC; NBC News; The Washington Post). Minutes earlier, The New York Times reported a second relationship, with an Nvidia executive who reported to him (CNBC; Reuters; NBC News). Huang said on Sunday he had been unfaithful to his wife; the earlier case involves a businesswoman whom US intelligence reportedly considers a Chinese operative, which China denies (NBC News; AFP).
The shares fell about 8–9% in extended trading (Reuters; CNBC; NBC News; TechCrunch), and Nasdaq futures were about 1% lower (Reuters). Bloomberg reported the board has been working with an outside firm on potential successors (via Reuters; TechCrunch). No board decision had been announced at the time of writing (CNBC; Reuters via CNA).

3) Oil and gold

Oil: Brent settled $1.27 (+1.39%) higher at $92.76 and WTI $0.49 (+0.57%) higher at $86.53, rebounding from two-month lows after Iran’s security chief said no enriched nuclear material would leave the country — a sign that US-Iran talks remain far apart (CNBC; Reuters; Rigzone; Barchart). Shipping risk in Hormuz remains high: 37 vessels were attacked in October, the most since the war began (Washington Institute data via CNBC and Reuters). Even after Wednesday’s bounce, Brent is down about 21% and WTI about 17% since the start of November (CNBC; Reuters). Early on Thursday in Asia, Brent eased back to about $91.6 (AFP).
Gulf supply: Saudi Arabia led a rise in OPEC+ crude output in October, telling OPEC its production reached 10.56 million barrels a day (Bloomberg via Rigzone; The Edge).
Gold: front-month Comex gold settled 0.71% lower at $3,992.00 an ounce, back below $4,000, as the dollar strengthened (Dow Jones via Morningstar; CME settlement report).

4) Thursday Asia

Asian markets were mixed on Thursday morning, with readings shifting through the session and Hong Kong lower, as traders weighed the Nvidia uncertainty against the tech-led rally on Wall Street (AP; AFP).

5) Gulf equities: Wednesday 11 November

TASI 10,308.37 (+140.27 / +1.38%), a third straight gain and its highest close in nearly a month, on about SAR 4.78 billion, with 210 stocks up and 52 down (Arab News; Saudi Exchange; Argaam). The index reversed early losses; Saudi Aramco rose 1.6% and Abdullah Al Othaim Markets 7.1% (Reuters). Raoom Trading and Knowledge Economic City each rose 9.95%, while Advanced Building Industries fell about 6.5% after a sharp drop in quarterly profit (Arab News; Reuters). The rally came as the coalition said it had intercepted Houthi missiles fired at Riyadh (Reuters).
Qatar (QE) 10,124.96 (−52.27 / −0.51%) on QAR 579.3 million, ending a two-day rise, with 18 risers and 33 fallers (QNA; The Edge). Industries Qatar fell 1.4% (Reuters).
Kuwait: All-Share 8,563.51 (+22.33 / +0.26%), a third straight gain (KUNA via Khaligyoun; The Edge); the Premier Market index rose 0.31% to 9,003 (Khaligyoun; Reuters). Turnover was about KD 77.5 million, and Boursa Kuwait made its first listing on its new fixed-income platform, a KD 200 million KFH sukuk (Khaligyoun).
UAE and Bahrain: DFM 6,221.23 (+0.83%), helped by Emirates NBD (+4.3%) (The Edge; Reuters), as DIP Holding rose 5.36% to AED 1.18 on its market debut (The Edge); ADX 9,585.06 (+0.31%); Bahrain All Share 1,824.47 (+0.01%) (The Edge; Reuters).

6) Muscat Stock Exchange: Wednesday 11 November

MSX 30 at 7,374.08 (+94.66 / +1.30%), the second-best gain in the region (U Capital; Oman Daily; Al-Amssar; The Edge). Value traded rose 11.8% to OMR 46.04 million, and market capitalisation increased 0.84% to about OMR 39.01 billion (U Capital; Oman Daily). Of 70 traded companies, 31 rose, 14 fell and 25 were unchanged (Oman Daily).
Sectors: all four main indices rose — the Shariah index +2.08%, services +1.50%, industrials +1.11% and financials +0.61% (Oman Daily; Al-Amssar).
Investor flows: non-Omani investors turned net sellers of OMR 0.51 million (buying OMR 4.32 million, selling OMR 4.83 million), driven by GCC investors (−OMR 1.00 million) and Arab investors (−OMR 0.12 million), while foreign investors were net buyers (+OMR 0.62 million). Omani investors were net buyers of OMR 0.51 million (U Capital).
Top gainers: Al Jazeera Services +9.76% to 270 baisa, Muscat Thread Mills +6.52% to 245 baisa and Sohar Power +6.07% to 262 baisa (Oman Daily; Al-Amssar); Financial Centre (Al Markaz Al Mali) rose 6.74% to 95 baisa (Oman Daily). Among leaders, Bank Muscat gained 2.71% and Bank Nizwa 2.14% (Al-Amssar).
Top decliners: Barka Desalination −5% to 152 baisa (Oman Daily; Al-Amssar) and Al Batinah Power −2.38% to 205 baisa (Oman Daily). Among other listed instruments, Raysut Cement’s rights fell 72.55% to 28 baisa and United Finance bonds 5.56% to 85 baisa (Oman Daily).
Value leader: Omantel, with about OMR 12.89 million traded (Oman Daily; Al-Amssar).
Omani company news — Omantel: in preliminary, unaudited nine-month figures disclosed on the MSX, group net profit rose 56% to OMR 406.4 million, helped by investment income at Zain Group; profit attributable to Omantel shareholders rose 52.2% to OMR 84.75 million. Excluding Zain, revenue grew 8.5% to OMR 535.2 million while EBITDA fell 2.9% on higher costs and impairment provisions (The Edge; Mubasher). The company holds an investor session on 18 November (The Edge). Raysut Cement’s rights subscription runs from 12 to 22 November.

Why it matters for Gulf + US-focused Arab traders

One stock, a big footprint. Nvidia is among the largest weights in US indices and in many Gulf investors’ US exposure, so a leadership shock can move the Nasdaq, chip peers and AI-linked names well beyond the company itself.
The AI trade has two drivers right now. CoreWeave showed that demand and funding worries can ease quickly; the Nvidia story shows that governance risk can arrive just as fast. Both can hit the same stocks in the same session.
Oil and the Gulf. Brent near $93 with Hormuz still risky supports exporters’ revenues, while higher Saudi output signals more supply. Riyadh’s rally and Muscat’s broad gain show local buyers looking through the headlines, though Doha’s dip is a reminder that the region does not move as one.

Today and this week (Muscat/UAE time, GMT+4)

Thu 12 Nov: Nvidia board outcome and the US open (18:30); US weekly jobless claims 17:30; US weekly oil inventory data; Cisco and Applied Materials results after the US close. Raysut Cement rights subscription continues (to 22 Nov).
Fri 13 Nov: US October PPI 17:30 — the next inflation check before the Fed’s 8–9 December meeting.
Wed 18 Nov: Omantel nine-month investor session.

Short educational angle: key-person risk and after-hours moves

Key-person risk is the chance that a company’s value depends heavily on one individual — usually a founder-CEO — so news about that person can move the share price as much as earnings do. Analysts look at three things: whether there is a named successor, how much decision-making is concentrated at the top, and how important the leader is to customers, partners and governments. Markets also tend to price these shocks first in extended-hours trading, where volumes are thinner and price swings can be larger; the regular session the next day, with full liquidity, is often a better read of how investors actually value the news. Index-level effects matter too: when a stock carries a large index weight, its move alone can shift futures and ETFs. This is an educational explanation only, not a forecast or a trade recommendation.

Sources

Reuters (via StreetInsider) — Stocks end higher as CoreWeave results ease AI spending worries (11 Nov 2026). streetinsider.com
AP — How major US stock indexes fared Wednesday 11/11/2026. apnews.com
The Closing Print — Post-market summary, Nov 11, 2026. theclosingprint.net
Yahoo Finance — Stock market today, Wednesday November 11. finance.yahoo.com
TradingKey — Market recap: CRWV earnings ignite AI rally; Nvidia drops after hours. tradingkey.com
The Motley Fool — Stock Market Today, Nov. 11: AMD jumps. fool.com
CNBC — Nvidia board meets to decide CEO Jensen Huang’s fate. cnbc.com
Reuters (via Investing.com) — Nvidia board meets to decide CEO Huang’s future as leadership crisis deepens. investing.com
NBC News — Nvidia shares drop after hours as board meets over Huang’s future. nbcnews.com
The Washington Post — Nvidia board weighs fate of CEO Jensen Huang. washingtonpost.com
TechCrunch — Nvidia’s stock drops as board reportedly preps to oust CEO. techcrunch.com
CNBC — Oil rises after Iran says no nuclear material will leave the country. cnbc.com
Reuters (via Euronext) — Oil up 1% as Iran official says country will keep enriched nuclear material. euronext.com
Rigzone — Oil rebounds amid mixed Iran war signals. rigzone.com
Barchart — Crude oil prices finish higher as progress stalls in US-Iran peace talks. barchart.com
Morningstar (Dow Jones) — Comex gold settles 0.71% lower at $3,992.00. morningstar.com
AFP — Asian stocks extend gains but traders keep eye on Nvidia crisis (12 Nov 2026). afp.com
AP — Asian shares mostly slip as Nvidia’s troubles weigh on AI stocks. apnews.com
Arab News — Closing Bell: Saudi Arabia’s Tadawul climbs above 10,300 as rally continues. arabnews.com
Argaam — TASI rises 1.4% to 10,308 pts. argaam.com
Reuters (via Business Recorder) — Gulf markets rise as investors assess Iran war, shipping risks. brecorder.com
The Edge — Middle East Market Wrap, 11 November 2026. edgeconsultancykw.com
QNA (via Rahbar) — QSE index closes lower. rahbarkisan.com
Khaligyoun (KUNA) — Boursa Kuwait closes higher. khaligyoun.com
U Capital — Daily Markets Close, Nov 11 2026. u-capital.net
Oman Daily — Muscat bourse index rises 94 points. omandaily.om
Al-Amssar — Leading stocks lift the Muscat index. alamssar.com
The Edge — Omantel Group’s nine-month net profit rises 56% to OMR 406.4 million. edgeconsultancykw.com
Mubasher — Omantel nine-month profit grows 52%. mubasher.info
Investing.com — This week’s earnings: AI infrastructure names dominate a thin calendar. investing.com

Disclaimer: This article is for educational and informational purposes only and does not constitute investment advice, a trading recommendation, or financial advice. Trading and investing involve a substantial risk of loss. Past performance does not guarantee future results. Do your own research and consult a licensed adviser where appropriate. Modern Money Experts (MMEC) is an educational brand.