Top Business Headlines: November 9

Estimated Reading Time: 2 minutes

STOCKS/ECONOMY

• Stock futures are solidly higher after all three indices lost ground last week. Investors are doing some tech stock bargain hunting and cheering the continuing drop in oil prices.
• The yield on the 10-year Treasury bond is down to 4.84 percent.
• Gold is up to the $4,134 per ounce level. Silver is up to the $52 per ounce level. Bitcoin is at the $74,500 level.
• Asian markets closed mixed today. The Nikkei jumped 2.3 percent higher, the Hang Seng lost 0.1 percent, the Kospi dropped 0.8 percent, and the Shenzhen gave up 0.3 percent.
• Chinese market losses were in response to the latest report on wholesale inflation, showing a higher than expected 5.7 percent rate.

OIL/ENERGY

• U.S. crude prices are down about 4 percent to the $87 a barrel level.
• Gasoline prices are down to $4.00 a gallon, national average. That’s down 37 cents from a month ago today.

NVIDIA SCANDAL

• Nvidia (NVDA) CEO Jameson Huang is apologizing for having an extramarital affair with an alleged Chinese spy. But internal and likely congressional investigations are set to further probe the incident. Nvidia shares are down 5 percent in the premarket.

ALZHEIMER’S WIN

• Canada drug agency is recommending Eli Lilly’s (LLY) treatment for early Alzheimer’s called Kisunla. Lilly shares are up 1 percent in the premarket.

BERKSHIRE MOVES

• Berkshire Hathaway (BRK.B) reported a 6 percent decline in quarterly profits from the year ago period. It also doubled the amount spent on share buybacks this past quarter to $9.6 billion. Berkshire Hathaway b-class shares are flat in the premarket.

-Jake Novak

Jake Novak is a 30-yr. veteran TV news producer, editorial columnist, & fmr. diplomat with expertise in politics, business news, culture, & media analysis. He is also the author of Jake’s Takes on Substack.

The author’s views are their own and do not constitute financial, investment, or legal advice. Investing involves risk; please consult with a qualified professional before making any financial decisions.