Bitget UEX Daily | Cisco and Applied Materials Deliver; Nvidia Confirms CEO Transition; Oil Revives Inflation Pressure (November 13, 2026)

I. Hot News Highlights

Governance | Nvidia Confirms Huang's Departure

Nvidia announced on November 12 that Jensen Huang resigned as president, CEO and director, effective immediately. CFO Colette Kress becomes interim CEO, Harvey C. Jones becomes chair, and a permanent CEO search begins. The board expects operations, customer commitments and the product roadmap to continue.

Investors must reassess execution and customer relationships after the founder's departure. The announcement did not report canceled orders. Management stability and the November 17 earnings release will provide further evidence of business continuity.

Energy | Supply Concerns Lift Oil More Than 2%

January 2027 Brent settled up 3.3% at $95.82/bbl, while December WTI gained 2.6% to $88.74. Reports concerning attacks on Saudi energy infrastructure and shipping risks in the Strait of Hormuz restored supply premiums.

Higher oil affects corporate costs and inflation expectations. Gold fell simultaneously, indicating that investors were focusing on potential monetary tightening rather than safe-haven demand alone.

US Employment | Claims Rise to 200,000 Without a Sharp Deterioration Signal

Initial jobless claims reached 200,000 in the week ended November 7, up 9,000 from the revised prior reading. The four-week average was unchanged at 195,250, while continuing claims declined to 1.697 million.

The weekly rise does not establish a rapid labor-market slowdown, particularly with the moving average stable. Tonight's PPI will add evidence on upstream prices and the inflation-growth mix.

II. Market Review

Commodities and Foreign Exchange

Gold futures fell approximately 2.9% as dollar strength and higher yields increased holding costs. Rising oil and falling gold are consistent: supply risks supported crude, while rates and the dollar weighed on bullion.

Cryptocurrency Performance

BTC trades at 70,912.29 USDT, down 3.96% over 24 hours; ETH trades at 2,007.84 USDT, down 2.31%. Total crypto capitalization is approximately $2.41 trillion, down 5.46%, with 24-hour volume of approximately $70.698 billion; aggregate data were independently updated at 08:58 Beijing time.

BTC / ETH Liquidation Zones: Verifiable current liquidation zones were not obtained. Upper and lower ranges, distances and nearer-side assessments are omitted.

Institutional Cost Basis | BTC: Strategy's latest November 9 disclosure reports 850,364 BTC held as of November 8, at an aggregate average cost of $75,456 including fees. BTC is approximately 6.11% below that basis, indicating a reference unrealized loss. This is the overall holdings basis, rather than the latest purchase price.

Market Takeaway: BTC has retreated to around $71,000, while ETH is contested around $2,000. Watch whether these round numbers hold and whether dollar and yield pressure ease. The institutional cost reference is above the current price and is not established support. Without a valid liquidation map, no conclusion is drawn about which side's leverage is more vulnerable.

Major US Equity Indexes

Market Moves Explained

Market Performance: All three indexes declined modestly. Four Magnificent Seven stocks rose and three fell. Nvidia lost 4.34%, while Broadcom gained 5.54%. Nebius dropped 16.84% and CoreWeave fell 6.86%, concentrating pressure in particular leaders and AI cloud companies.

Logic 1: Leadership changes increase Nvidia's execution uncertainty. Investors are reassessing strategy, customer relationships and industry partnerships. This is a governance and execution repricing, rather than proof that industry-wide demand has disappeared.

Logic 2: Oil and yields pressure valuations and financing together. The 10-year yield reached approximately 5.1%, raising discount rates on future earnings and the financing burden for capital-intensive companies. AI cloud businesses therefore face stricter return requirements.

Logic 3: Investors are differentiating within AI infrastructure. Broadcom advanced, while Cisco and Applied Materials delivered after-hours results. Realized revenue and earnings still matter; orders, delivery and valuation distinguish individual companies.

Magnificent Seven

Sector Moves

Semiconductors and AI Cloud: Broadcom gained 5.54%, while Nebius and CoreWeave fell sharply. Chip suppliers, networking vendors and capital-intensive cloud providers have different earnings models and financing needs.

Energy and Crypto Treasuries: The S&P energy sector gained approximately 1.5%, while Strategy fell 6.49%. Oil supported the former; BTC weakness and index-removal financing concerns weighed on the latter.

III. In-Depth US Equity Analysis

Cisco | Networking Demand Delivers, Full-Year Outlook Rises

Event Overview: After the close, Cisco reported fiscal Q1 2027 revenue of $18.517 billion, up 24%, and non-GAAP EPS of $1.40. Full-year revenue guidance rose to $74.8–$75.8 billion, with non-GAAP EPS of $5.47–$5.53.

Market Interpretation: Expected fiscal-year AI infrastructure revenue from hyperscalers increased to $9 billion, indicating conversion of compute investment into networking revenue. This is a full-year expectation, rather than revenue already recognized in the quarter.

Investment Implications: Watch order conversion, product mix and margins. The regular-session gain of 1.24% to $102.01 preceded the release and cannot be attributed to its results.

Applied Materials | Equipment Revenue and Earnings Grow

Event Overview: After the close, Applied reported fiscal Q4 revenue of $10.409 billion, up 53%, non-GAAP EPS of $4.16 and GAAP EPS of $3.40. Next-quarter guidance is revenue of $11.1 billion plus or minus $0.5 billion and non-GAAP EPS of $4.35 plus or minus $0.20.

Market Interpretation: Revenue and profit growth provide operating evidence of equipment demand. Deliveries and margins show more directly than expansion plans whether investment is becoming supplier earnings.

Investment Implications: Monitor advanced-process and memory investment, deliveries and cash flow. The regular-session decline of 3.58% to $380.95 occurred before the results and requires separate assessment.

Nvidia | Business Continuity Becomes the Focus

Event Overview: Shares fell 4.34% to $166.19. Huang's departure is officially confirmed. Kress serves as interim CEO while retaining the CFO role, and internal and external candidates will be considered.

Market Interpretation: Investors need evidence that product plans, customer commitments and key teams remain on track. The board expects continuity; actual deliveries and customer feedback will test execution.

Investment Implications: Watch succession decisions, followed by the November 17 results and management communication, for effects on orders, delivery and partnerships.

IV. Market & Project Updates

Nebius faces a delivery test. Q3 revenue reached $980.8 million, up 571%, but delays in some third-party data-center capacity prompted reassessment of near-term revenue delivery. Shares fell 16.84%, illustrating the distinction between strong demand and timely capacity.

Strategy remains under pressure. Shares closed at $114.41, down 6.49%, as BTC weakness and MSCI removal affected financing expectations. Index funds selling company shares does not establish company BTC sales.

Applied expands research partnerships. Four additional EPIC engagements brought announced partnerships to 15. These support technology development but are not equivalent to recognized sales.

V. Today's Market Calendar

Event Outlook: Watch whether PPI shows broader upstream pressure and how the dollar and yields react. At the equity open, Cisco and Applied Materials will test whether operating results support industry sentiment separately from Nvidia's governance issues.

Institutional View: High Ridge Futures metals trading director David Meger said on November 12 that higher energy prices support a hawkish Fed, while higher interest rates create a headwind for gold. This helps explain why bullion has not benefited alongside rising geopolitical risk.

For market information only; not investment advice.