US stock indices achieve best weekly performance since August despite Nvidia decline

Major US stock indices achieved their strongest weekly performance since the beginning of August 2026, despite a decline in Nvidia shares and the release of new US producer price inflation data. On Friday, November 14, 2026, the Dow Jones Industrial Average rose by 0.10% to 52,347.55 points. During the same session, the Nasdaq Composite fell 0.91% to 25,136.27 points, while the S&P 500 decreased by 0.40% to 7,561.67 points.

Inflation and index performance

The weekly gains across the three major indices occurred alongside specific inflation data from the previous month. The US Producer Price Index (PPI) rose 0.3% month-on-month in October 2026, a figure that was lower than the 0.4% forecast provided by analysts. However, the October 2026 PPI showed a 6.5% year-on-year increase, marking the highest rise since November 2022.

Investment professionals have noted that the inflation data may have limited impact on future monetary policy. Chris Zaccarelli, the Chief Investment Officer at Northlight Asset Management, said that the October PPI data is unlikely to change the Federal Reserve's focus in December because CPI data was already outside their comfort zone.

Nvidia market volatility

The semiconductor sector faced significant pressure during the week, characterized by a sharp decline in Nvidia shares. On November 14, 2026, Nvidia shares fell 2.49% to $162.39, following a decline of over 4% on November 13, 2026. This recent movement follows a period of significant loss for the company, as Nvidia's market capitalization has decreased by approximately $650 billion and nearly $2 trillion from its early October highs.

The leadership at Nvidia has also undergone a major transition. Jensen Huang has stepped down as founder and CEO of Nvidia following a scandal involving his private life. This leadership change, combined with market movements, contributed to the Philadelphia Semiconductor index falling by 3.7% during the week.

Market analysts suggest that volatility may continue for the chipmaker. Ross Mayfield, an investment professional at Baird, said that Nvidia stock prices may remain volatile despite current prices already pricing in significant negative expectations.

Market uncertainty and context

The broader market is currently reacting to several overlapping factors. Beyond the departure of Jensen Huang from Nvidia, investors are navigating potential political uncertainty regarding a Democratic victory and Congressional control. These factors have contributed to a complex trading environment where major indices can achieve weekly gains even as specific sectors or companies experience significant downturns.

Glossary

• Dow Jones Industrial Average — The Dow Jones Industrial Average is a price-weighted average of 30 blue-chip stocks. It is a major US stock index.
• Nasdaq Composite — The Nasdaq Composite is a stock market index made up of stocks listed on the Nasdaq. It is one of the major US stock indices.
• S&P 500 — The S&P 500 is a major US stock index. It is one of the three major indices mentioned in the market context.
• Federal Reserve — The Federal Reserve, also known as the Fed, is a central bank. It focuses on monetary policy.