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U.S. equity futures ticked up on Thursday evening after major indices dipped and Nvidia shares fell following the exit of founder and CEO Jensen Huang amid an ongoing scandal.
Futures tied to the Dow Jones Industrial Average added 40 points. S&P 500 futures rose about 0.2%, while Nasdaq-100 futures advanced 0.3%.
The action comes after the Nasdaq Composite and S&P 500 dropped about 0.4% each in regular trading. The Dow slid almost 190 points, or 0.4%. Nvidia's 4.3% decline dragged down the three major averages, even as the chip stock ended the session off its lows.
On Thursday, Huang stepped down from his post at the chip company following reported extramarital affairs, including a relationship with a woman U.S. intelligence officials believe is a Chinese spy. Analysts told CNBC that Huang's exit could trigger a 20% correction in the stock.
Nvidia's chief financial officer Colette Kress, who's worked at the company for more than a decade, will lead the chipmaker as interim CEO. The company's board is looking both internally and externally for a full-time replacement for Huang.
A jump in oil prices also kept stocks under pressure Thursday, with Brent crude rising more than 3% on the day to settle at $95.82 a barrel. Oil climbed after President Donald Trump said in a Truth Social post, "We don't need a deal with Iran." The comment raised concerns that the U.S.-Iran war could drag on further.
Another market catalyst awaits on Friday in the form of October's producer price index reading, a measure of wholesale inflation. Economists polled by Dow Jones see headline PPI rising 0.4% on the month and 6.6% from 12 months earlier.
Even with the latest bout of market turbulence, the major averages are heading for weekly advances. The Nasdaq is up 3.2%, while the S&P 500 is on pace for a 2.9% advance. The Dow is poised for a nearly 2% jump. All three indexes are heading for their best weekly performances since early August.
U.S. equity futures opened modestly higher Thursday, just after 6 p.m. ET.
S&P 500 futures and Nasdaq-100 futures added about 0.2%, while Dow futures gained 40 points.