Nvidia CEO Jensen Huang has resigned after reports of two extramarital relationships, one with a woman allegedly gathering intelligence for China. The company said its CFO, Colette Kress, agreed to serve as interim CEO. Huang agreed to testify in a closed session on threats to US national security.
Markets and commodities
Nvidia shares fell 4.3 percent the previous day. Brent crude rose 3.3 percent to 95.8 dollars a barrel for January futures, then stabilised at 95.5 dollars the next day.
Gold fell sharply before rebounding about 1 percent, and was trading at 3,915 dollars an ounce. The US dollar index hit a 19-month high of 103.24 before pulling back to 103.1.
Yields and the Fed
The US 10-year Treasury yield rose above 5.10 percent, adding more than 25 basis points over the week. Fed officials commented on inflation, with Cleveland Fed President Beth Hammack saying restrictive policy is needed to bring inflation down.
Chicago Fed President Austan Goolsbee said inflation is well above target and the Fed has wide room to discuss its policy options. San Francisco Fed President Mary Daly said AI is fuelling price pressures but is not the main driver of inflation.
Source: Federal Reserve | Data: U.S. Department of the Treasury
