Wall Street Wrap: Pre-Market, November 13, 2026

Futures edge higher after a slightly softer producer price report, Nvidia steadies after Huang's exit, Modine jumps on reported Samsung talks, and NeuroPace and Candel plunge

Wall Street looks set for a modestly higher open on Friday, with S&P 500 futures up 0.36% after a producer price report that came in slightly below forecasts, putting the major indexes on course for their best week since early August.

Futures Snapshot

Nasdaq 100 futures are posting the smallest gain of the three main index futures, while the VIX is up 4.12% at 18.21.

What's Driving the Open

S&P 500 futures are up 0.36%, Nasdaq 100 futures 0.16% and Dow futures 0.33% after the producer price index rose 0.3% in October, below the 0.4% Dow Jones consensus, though the 12-month rise of 6.5% was the largest since November 2022. Rate-hike bets remain firm, with CME FedWatch showing 100% odds of a December increase, after the 10-year Treasury yield jumped more than 13 basis points Thursday to above 5%. The Nasdaq is on pace for a 3.2% weekly gain and the S&P 500 for 2.9%, their best weeks since early August.

Nvidia (NASDAQ:NVDA) is up 1.44% in pre-market trading after Thursday's 4.34% drop that followed CEO Jensen Huang's resignation, with Chief Financial Officer Colette Kress serving as interim chief executive. Cerebras Systems (NASDAQ:CBRS) is up 12.20% after raising its 2026 revenue outlook, while Cisco Systems (NASDAQ:CSCO) is down 3.26% despite a stronger forecast as its gross margin narrowed. Microsoft (NASDAQ:MSFT) is down 0.92% after an outage of Outlook, Teams and Copilot that lasted more than 12 hours.

Treasury yields are climbing, with the 10-year at 5.141% and the dollar index above 103, while bitcoin has slipped below $70,000 for the first time since August.

What could change the picture: Further word on Nvidia's chief executive search ahead of its Nov. 17 earnings, a Samsung statement on Modine Manufacturing (NYSE:MOD), and Fed commentary after the producer price data could swing the AI trade and rate-hike bets.

Overnight Markets

Asia-Pacific markets closed mostly lower, capping a week dominated by the Nvidia shake-up. Japan's Nikkei 225 rose 0.53% to 61,142.35 and the Topix gained 0.11% to 3,941.57, while South Korea's Kospi fell 0.98% to 5,290.53, the Kosdaq rose 0.45% to 699.66, and mainland China's CSI 300 dropped 0.68% to 4,016.29. Hong Kong's Hang Seng was down 1.6% in its last hour of trade, and Australia's S&P/ASX 200 fell 0.71% to 9,082.2. Samsung Electronics shares rose 2% after reports that it is in talks to acquire Modine.

Pre-Market Movers

Earnings Before the Bell

Rates, FX & Crypto

Long-dated Treasury yields are higher after Thursday's sharp jump, with the 30-year up 0.041 percentage points to 5.471% and the 10-year up 0.038 to 5.141%, while the 2-year is down 0.003 to 4.861% and the 1-year down 0.021 to 4.621%. The 10-year rose more than 13 basis points Thursday to above 5%, and the 2-year rose more than 15 basis points. CME FedWatch shows 100% odds of a rate increase at the Dec. 8-9 meeting, with almost 87% for 25 basis points and about 13% for 50 basis points, and the dollar index is above 103. Bitcoin is down about 3% near $69,100, below $70,000 for the first time since August and on pace for a sixth straight weekly decline, with more than $1.3 billion of leveraged futures liquidated, about $677 million of it in bitcoin, and the crypto Fear & Greed index at 20.

Commodities

Oil is little changed after Thursday's jump, with Brent up 0.36% to $96.162 and WTI down 0.12% to $88.632, and prices are on track for a second weekly decline. President Donald Trump has said the U.S. does not need a deal with Iran, leaving the path to talks unclear. Natural gas fell 1.89% and gasoline 0.80%, while heating oil gained 0.66%. Gold rose 0.40% to $3,892.07, silver slipped 0.03% and copper fell 0.55%.

Key Levels & Catalysts Today

Economic data

• The producer price index rose 0.3% in October after a 1.4% rise in September, below the 0.4% Dow Jones consensus, and the 12-month rise of 6.5% was the largest since November 2022 against 6.6% expected.
• Final demand goods rose 0.5%, with foods up 1.3% and energy down 0.1%, while services rose 0.2%, with trade services down 0.2% and transportation and warehousing up 2.0%.
• Final demand less foods, energy and trade rose 0.5%, the same as September, and 4.9% over 12 months.
• Core producer prices excluding food and energy rose 0.3% after 0.8% in September and 5.0% from a year earlier.
• The Fed meets next on Dec. 8-9, and the next producer price release is Dec. 15.

Corporate

• Flowers Foods holds its earnings call at 8:30 a.m. ET.
• Workhorse Group (NASDAQ:WKHS) has moved its third-quarter results to Nov. 16, citing disruption from the Microsoft outage.
• Vir's $150 million offering is expected to close Nov. 16.
• Modine holds its investor day on Nov. 18.
• Nvidia reports earnings on Tuesday, Nov. 17.

Top Stories

Nvidia's leadership shake-up draws Senate scrutiny as a chip-smuggling probe widens. Huang has acknowledged an affair with an executive at Megaspeed, a Singapore-based company that has bought more than $4.8 billion of advanced Nvidia chips over the past two years, and there are reports of a separate affair with a senior Nvidia executive. Senate Banking Chair Tim Scott sent letters Thursday evening asking Huang to testify Dec. 3 and Commerce Secretary Howard Lutnick on Dec. 10, and Lutnick has agreed to appear. Bipartisan scrutiny of how the Commerce Department oversees chip exports is growing, and shares of Super Micro Computer (NASDAQ:SMCI) fell after reports that the Justice Department is investigating whether an alleged Chinese spy with whom Huang had a relationship helped smuggle its products into China.

A Microsoft outage lasting more than 12 hours disrupts businesses and public services. Microsoft attributed the incident to server issues and said it was not aware of any malicious activity as fixes began to stabilize services. Britain's National Health Service and the Metropolitan Police were among the organizations affected, and the outage disrupted fund management at Taiwanese securities firms, life insurers and investment trust companies, with one firm using fax to confirm trades. At least one bond repurchase transaction was cancelled, and Richemont briefly delayed its half-year results, and Australian agencies including its spy agency and federal police were caught in the outage, though the country's cyber security minister said Microsoft does not suspect a cyber attack.

Cisco and Cerebras point to durable AI demand, but delays and margins temper the cheer. Cisco CEO Chuck Robbins described the company as in the "very early stages of a multi-year networking supercycle." Cerebras CEO Andrew Feldman said delays on its $20 billion multi-year OpenAI deal stem from shortages of land and power, not chip manufacturing, and the company also signed a cloud deal with Microsoft, with details due next year. Cerebras closed Thursday 47.2% below its $185 May IPO price despite the guidance raise.

Trump rejects an Iran deal and says he wants Cuba resolved before he leaves office. Trump told Vice President JD Vance to focus on alleged Democratic corruption rather than on negotiations with Iran, even as Vance was reportedly considering direct talks with an Iranian security official. In a radio interview Thursday, Trump said he wants to resolve the Cuba situation before leaving office in 2029 and would consider a short military operation, reportedly the first time he has put a timeline on possible intervention to topple Cuban authorities.

The Justice Department seizes about $1.2 billion of crypto stolen from Binance as bitcoin slides. More than $6 billion was stolen from the exchange on Oct. 29 in an attack the department attributed to actors linked to the North Korean military, and more than $2.7 billion of that has been frozen. Authorities also seized cloud infrastructure used in the "FaceStealer" scam, in which hackers use AI-generated deepfakes in fake video meetings to install malware, and which has stolen more than $400 million over 18 months. The FBI said more than 900 victims have been duped.

Eyes on Nvidia's leadership transition ahead of its Nov. 17 earnings, on whether AI stocks can build on the Cisco and Cerebras guidance, and on bitcoin's hold near $70,000.