At midday on Thursday, November 12, 2026, the market is treading water after Wednesday’s sharp rebound, with the Dow holding up best and small caps lagging. The day’s story is Nvidia: CEO Jensen Huang resigned, sending the stock down sharply at the open before a partial recovery, while the 10-year Treasury yield tests 5%.
Market Snapshot
As of roughly 11:55 AM ET:
- SPY (S&P 500): +0.13% at $760.79
- QQQ (Nasdaq 100): +0.19% at $691.70
- DIA (Dow 30): +0.19% at $525.46
- IWM (Russell 2000): -0.68% at $281.16
- VIX: 17.63, +0.8% on the day (previous close 17.49); it spiked to 19.08 in premarket trading before easing
- 10-year Treasury yield: about 5.01%–5.05%, up roughly 2–6 basis points as bond trading resumed after the Veterans Day closure
- Breadth: S&P breadth was 25% advancing at mid-morning; at Wednesday’s close, 6,010 stocks advanced vs. 3,343 that declined
Nvidia (NVDA) was down about 5.9% mid-morning at $163.46 after opening near $151 and hitting an intraday low of $148.80, following confirmation that Jensen Huang resigned effective immediately, with CFO Colette Kress named interim CEO. Oppenheimer downgraded the stock to Market Perform.
Sector Scan
All 11 Select Sector SPDR ETFs, ranked by intraday change as of about 11:55 AM ET:
| Rank | Sector ETF | Change | Price |
|---|---|---|---|
| 1 | XLE – Energy | +1.70% | $64.45 |
| 2 | XLU – Utilities | +0.51% | $44.05 |
| 3 | XLV – Health Care | +0.24% | $189.41 |
| 4 | XLY – Consumer Discretionary | +0.07% | $121.07 |
| 5 | XLK – Technology | +0.05% | $174.45 |
| 6 | XLP – Consumer Staples | +0.04% | $91.49 |
| 7 | XLF – Financials | -0.04% | $58.61 |
| 8 | XLC – Communication Services | -0.04% | $108.56 |
| 9 | XLI – Industrials | -0.10% | $170.80 |
| 10 | XLRE – Real Estate | -0.13% | $44.53 |
| 11 | XLB – Materials | -0.36% | $52.83 |
XLU’s quote is as of 10:33 AM ET; the rest are as of about 11:55 AM ET.
Rotation Read
Wednesday was a broad risk-on rebound: the S&P 500 gained 1.31%, the Nasdaq 1.60%, the Dow 0.49% and the Russell 2000 0.83%, with technology leading at +3.23% after CoreWeave raised its full-year revenue guidance. Today the tape flipped. Technology gave back the lead — XLK is essentially flat — as the Nvidia governance shock hit chips, though Advanced Micro Devices (AMD) bucked the selloff, up about 2.6% in early trading. Money rotated into energy, up 1.70% with refiners leading, and defensive utilities, up about 0.5%, while small caps were the weakest corner of the market at -0.68%. With the 10-year yield sitting above 5% and traders pricing roughly a 90% chance of a 25-basis-point Fed hike in December, the read is a risk-off tilt inside a flat tape, not panic: the VIX has already eased well off its premarket high.
Top Stocks in the Leading Sectors
Energy (XLE, +1.70%)
- VLO (Valero Energy): +3.51% at $376.47
- MPC (Marathon Petroleum): +3.03% at $415.03
- PSX (Phillips 66): +1.96% at $263.76
Refiners are driving the sector’s gain; integrated majors ExxonMobil and Chevron are up only about 1% each.
Utilities (XLU, +0.51%)
- NRG (NRG Energy): +1.43% at $98.89
- CEG (Constellation Energy): +1.30% at $278.31
- VST (Vistra): +1.27% at $135.14
Independent power producers lead the sector, continuing a strong multi-day run — NRG is up 18.79% over the last five sessions.
Charts
NVDA
SPY
QQQ
DIA
IWM
VIX
XLE
XLU
XLV
XLY
XLK
XLP
XLF
XLC
XLI
XLRE
XLB
CRWV
AMD
VLO
MPC
PSX
NRG
CEG
VST
Sources
- Finnhub market data (finnhub.io) — index, sector ETF and stock quotes as of about 11:55 AM ET, November 12, 2026
- StockSetups, “Stock Market Today Nov 12” — https://stocksetups.com/today
- Morningstar, “Treasury Selloff Accelerates, European Bonds Follow Suit” — https://www.morningstar.com/news/dow-jones/2026111210055/treasury-selloff-accelerates-european-bonds-follow-suit-2nd-update
- Curve Ahead Market Strategies, “Market Structure: AI Leadership Meets a 5% Rate Test (November 12, 2026)” — https://www.curveaheadmarketstrategies.com/market-structure-ai-leadership-meets-5-percent-rate-test-november-12-2026/
- InteractiveCrypto, “Market Today, Nov 12, 2026” — https://www.interactivecrypto.com/market-today
- MarketBeat stock comparisons — https://www.marketbeat.com/compare-stocks/?Symbols=NYSEARCA%3AXLE%2CNYSE%3AXOM%2CNYSE%3ACVX%2CNYSE%3ACOP%2CNYSE%3AWMB%2CNYSE%3AMPC
- StockAnalysis, XLU history — https://stockanalysis.com/etf/xlu/history/
- Sell The News, WSB Sentiment Nov 12, 2026 — https://sellthenews.org/wsb/daily/2026-11-12
Intraday figures are snapshots from a session still in progress and are not final. This is market commentary for informational purposes only, not investment advice.