--- title: "Stocks post best day since April as Nvidia falls on CEO probe; SOXX tops SMH" url: "https://etf.net/news/soxx-outpaces-vaneck-fund-nvidia-drop-2026-11-09" published_at: "2026-11-09T22:19:55.097Z" updated_at: "2026-11-09T23:05:33.842Z" byline: "ETF.net Research" --- # Stocks post best day since April as Nvidia falls on CEO probe; SOXX tops SMH Nvidia falls 4.3% after board opens a probe into reports its CEO was targeted by Chinese intelligence; AMD jumps 13.3%. S&P 500 climbs 2.3%, oil falls, and the two-year Treasury yield rises ahead of Tomorrow's inflation report. By ETF.net Research. Published Nov 9, 2026. Nvidia fell **4.3%** on Monday after its board opened an independent investigation into reports that CEO Jensen Huang was the target of a Chinese intelligence effort. The rest of the chip sector rallied anyway, and that split the two largest semiconductor ETFs. The iShares Semiconductor ETF (SOXX), which caps its largest positions, rose **7.5%**. The VanEck Semiconductor ETF (SMH), which holds about a fifth of its assets in Nvidia, rose **5.1%**. The broader market had its best day since April. The S&P 500 rose **2.3%** and now sits **3.4%** below its record close set last month. The Dow Jones Industrial Average gained 1,104 points, or **2.2%**, and the Nasdaq Composite climbed **2.7%** lifting it out of correction territory. It was the first session since April 5 in which all three gained at least 2%. Chart: **SOXX** pulled ahead of SMH after Thursday The split came on a rebound from Thursday, Nov. 5, when the Invesco QQQ Trust, Series 1 QQQ, which tracks the Nasdaq-100, fell 6.5% and the State Street SPDR S&P 500 ETF SPY fell 4.4%. On Monday the S&P 500 rose 2.4%. So did SPY. The Dow Jones Industrial Average added 1,104 points, or 2.2%. The Nasdaq Composite, which is broader than the Nasdaq-100, rose 2.7%. The Russell 2000 rose 3.1%. Monday's gain left SPY 0.1% above its close last Monday, Nov. 2. QQQ rose 3.5% and is still down 0.3% from that close. Chart: SPY recrossed **Nov. 2**; QQQ remains just short All 11 of State Street's sector funds finished higher, led by the State Street Industrial Select Sector SPDR ETF XLI, up 3.8%. ## Semiconductor funds and Nvidia Nvidia closed at $178.67. down **11.6%** Its board said Sunday that a committee of independent directors, assisted by outside counsel, will investigate reports that Huang had been “the target of a foreign intelligence effort.” [The New York Times](https://www.nytimes.com/2026/11/09/business/nvidia-stock-price-jensen-huang-ceo.html)reported that U.S. authorities concluded Alice Huang, a former executive at Singapore-based Megaspeed who is not related to Jensen Huang, was a Chinese intelligence asset. Nvidia's The board said it has confidence in Huang, that he supports the review, and that it has no reason to believe national security or Nvidia secrets were compromised. China’s Foreign Ministry dismissed the allegations Monday as a smear. Nvidia reports fiscal third-quarter results Nov. 17. Advanced Micro Devices rose **13.3%**. [CNBC reported](https://www.cnbc.com/2026/11/09/stock-market-movers-live-updates.html) that Oppenheimer upgraded the shares to outperform from market perform and set a $600 price target after a strong third quarter. [Investor's Business Daily reported](https://www.investors.com/news/technology/amd-stock-rises-on-google-cloud-deal-wall-street-upgrade/) that AMD said its fifth-generation Epyc processors will power artificial-intelligence systems at Google Cloud, and that the stock rose on the news. VanEck's fund holds 20.7% of its assets in Nvidia, against 8.4% in the iShares fund. That extra stake cost VanEck's fund half a percentage point of return versus the iShares fund on Monday. AMD ran the other way. It is 9.5% of the iShares fund and 5.4% of VanEck's, a difference that added half a percentage point to the iShares fund's return versus VanEck's. ## Oil falls, yields rise December WTI crude, the U.S. benchmark, settled at $86.85 a barrel, down $3.98, or **4.4%**. January Brent, the international benchmark, settled at $92.57, down $5.75, or **5.8%**. President Donald Trump told CNN on Sunday that new U.S. strikes on Iran were “highly unlikely” as long as negotiations progress. Reported attacks on ships near the Strait of Hormuz and on a Saudi pipeline kept supply risk in play. Energy shares rose even as oil fell. The State Street Energy Select Sector SPDR ETF XLE gained 0.6%. Cheaper oil usually eases inflation worries. But Treasury yields rose anyway today because traders are betting the Fed will raise rates next month. Fed funds futures priced an 84% chance of a quarter-point hike at the Dec. 8-9 meeting, Reuters reported Monday. The two-year yield, the maturity most sensitive to Fed expectations, rose about 4 basis points to **4.56%**, while the 10-year rose about 1.5 basis points to **4.87%**. The odds of a rate hike climbed after Friday’s report showed employers added 165,000 jobs in October, the [Bureau of Labor Statistics](https://www.bls.gov/news.release/empsit.nr0.htm) said Friday, nearly three times the [59,000](https://www.cnbc.com/2026/11/09/us-treasurys-bonds-yields.html) 59,000 jobs economists surveyed by Dow Jones had expected. The unemployment rate fell to **4.1%** from 4.2%. The Fed’s target range is 3.75% to 4%, where [it left rates on Oct. 28](https://www.federalreserve.gov/mediacenter/files/FOMCpresconf20261028.pdf). ## What to watch for The Bureau of Labor Statistics releases the October consumer price index at 8:30 a.m. EST Tuesday. Economists polled by Dow Jones expect prices rose 0.3% for the month, and 0.2% excluding food and energy. A hotter reading would push December hike odds toward certainty. The Treasury auctions 10-year notes Tuesday afternoon, and the bond market closes Wednesday for Veterans Day while stocks trade. Producer prices follow Friday. Nvidia reports quarterly results Nov. 17. Source: etf.net, https://etf.net/news/soxx-outpaces-vaneck-fund-nvidia-drop-2026-11-09. Please cite the page URL.