***I need your support, friends.
Thurs., Nov. 12, 2026
[4:10 PM ET…closing prices for stocks, 3:50ish for commodities and bonds]
Tale of the Tape at the gas pump, nationwide averages, courtesy of AAA.
Fri., Feb. 27…regular $2.98…diesel $3.75
Thurs., Nov. 12…regular $3.90…diesel $6.09
[Reminder: you don’t round up AAA, futures, bond yields, or stock indexes, though that’s what the media insists on doing. $3.908 is not $3.91, it’s $3.90…I’m sorry.]
‘Regular’ is now down 20 cents in a week.
Crude oil (WTI) gyrated between $86 and $88, Thursday, and surged late, as signs of recovering Saudi supply outweighed escalating tensions between Washington and Tehran. Saudi Arabia reported a 26% increase in oil production in October, bringing output to one of its highest monthly levels in years, while Iraq also raised production to a wartime record. Exports remained resilient despite disruptions to the Strait of Hormuz, supported by alternate routes such as Saudi Arabia’s East-West pipeline to the Red Sea and ship-to-ship transfers.
Meanwhile, President Trump said the U.S. no longer needs a deal with Iran, signaling a shift away from recent diplomatic efforts. Tehran also maintained a hardline position, as noted yesterday in security chief Mohsen Rezaei’s comments ruling out the removal of any enriched nuclear material from the country.
Trump, as part of a Truth Social post focusing on ‘corruption,’ snuck this in at 8:07 AM:
“…CORRUPTION is in the Democrat Leadership’s blood! We don’t need a deal with Iran. Those days have long since passed. We’ve got their money, Hundreds of Billions of Dollars, and we’ve got their Strait! Thank you for your attention to this matter. President DJT”
Of course, this is the same man who has told us over and over again that talks were going well, but I’ve been saying all along, There Is No Deal!
—
Overnight, through reporting from the New York Times, we learned the now-former Nvidia CEO Jensen Huang, had a second extramarital relationship with an executive who reports to him, Kimberly Powell, Nvidia’s vice president of health care, according to the reporting (and video the sources speak to). [Both are married.]
We knew the board was meeting and today Huang stepped down, four days after the board announced its internal investigation into an affair he had with suspected Chinese spy Alice Huang.
“Jensen Huang has resigned as President, Chief Executive Officer, and a member of the Board, effective immediately,” the Nvidia board said in a statement. Nvidia’s chief financial officer, Colette Kress, will serve as interim CEO. The board said it “will consider internal and external candidates” for a permanent replacement.
President Trump had to weigh in:
“NOW THAT Nvidia CEO JENSEN HUANG, who has done a fantastic job, has resigned, there is only one man to take his place – TIM COOK of Apple. A Legend replaces a Legend!”
Nvidia shares were down another 10% early this morning, to $150, down from the Oct. high of $243, as both the story about the second affair and his seemingly imminent resignation were circulating.
Nvidia finished the day down about 5%.
—
Stocks were down on the day, but Treasury yields continued to surge on the growing reality the Fed is hiking interest rates again, and maybe more than just a ¼-point.
Existing home sales in October fell 5.5% to a seasonally adjusted annual rate of 3.75 million, the lowest level since Aug. 2010.
Lastly, sports fans were shocked, and saddened, today to learn of the sudden passing of the voice of golf on NBC, Dan Hicks, 64. Hicks was also the lead on NBC’s swimming and skiing coverage for the Olympics, while doing Notre Dame football, the NBA, NFL, you name it.
He was very solid, and likeable. Our thoughts and prayers go out to his wife, Hannah Storm, and their family. RIP.
—
Dow Jones -188…-0.4% [52297]
S&P 500 -26…-0.4% [7592]
Nasdaq -100…-0.4% [25366]
Oil (WTI) $89.00…Brent $96.10
Gold $3875
Silver $50.00
Bitcoin: $71,400 [4:00 PM ET]
U.S. 2-yr. 4.87%…up another 13 bps from yesterday….
U.S. 10-yr. 5.11%…up 11….PPI tomorrow….
Japanese 10-yr. 2.79%
Check out my ‘Week in Review,’ posted Fridays at 4:30 PM ET.
***Please support StocksandNews…there are big costs behind it. Click on the GoFundMe link or send a check to PO Box 990, New Providence, NJ 07974.
***For Zelle: use recipient briannovak24@gmail.com.
***For PayPal: briannovak24@gmail.com.
Every little bit helps.
Brian Trumbore