US stock futures rose on Friday, November 13, after October wholesale inflation increased less than economists expected. NVIDIA shares also recovered some of their recent losses following a change in the chipmaker's leadership.

Dow Jones Industrial Average futures gained 226 points, or 0.4%, after the inflation report. S&P 500 futures rose 0.4%, while Nasdaq-100 futures added 0.1%. The advances came after all three major indexes closed lower on Thursday.

US Producer Prices Rise 0.3% in October

The Producer Price Index (PPI) rose 0.3% in October, below forecasts for a 0.4% increase. The Labor Department's Bureau of Labor Statistics also revised September's monthly gain to 1.4%, up from the previously reported 1.3%.

However, the annual PPI reading reached 6.5%, compared with 6.3% in September. That marked the largest 12-month increase since November 2022. Goods prices climbed 0.5% during October, while services prices rose 0.2% for their fifth consecutive monthly gain.

The monthly reading provided some relief to equity futures, although annual wholesale inflation remained elevated. October consumer inflation had also exceeded forecasts earlier in the week, leaving investors focused on the Federal Reserve's next interest-rate decision.

NVIDIA Shares Recover Following Jensen Huang's Resignation

NVIDIA gained more than 2% in premarket trading, reversing part of Thursday's decline of more than 4%. The stock's losses followed the departure of co-founder and longtime chief executive Jensen Huang.

In a November 12 announcement, NVIDIA confirmed that Huang had resigned as president, CEO and board member with immediate effect. The company named Chief Financial Officer Colette Kress as interim CEO and said its board would consider internal and external candidates for a permanent replacement.

Kress joined NVIDIA in September 2013 and will continue as finance chief during the transition. New board chair Harvey Jones said directors had confidence in the management team and expected NVIDIA's operations and customer commitments to continue without interruption.

Elsewhere in the chip sector, AMD shares dropped about 2.6% before the opening bell, and Broadcom fell 2.8%. Cerebras, however, surged roughly 16% after reporting better-than-expected quarterly results, including a surprise profit.

Microsoft Outage Weighs on Technology Shares

Microsoft declined more than 1% in premarket trading as a widespread disruption affected its cloud-based productivity services. The outage began Thursday and disrupted access to Outlook, Teams and other Microsoft 365 tools.

Microsoft's service reports described problems with Exchange Online connections and several related applications. The company said it was restoring server capacity and had observed improved stability in parts of its network. However, some customers could still experience delays or intermittent access.

Technology stocks consequently showed mixed performances. Gains in NVIDIA and Cerebras contrasted with declines in Microsoft and several semiconductor stocks, while Nasdaq futures trailed advances in Dow and S&P 500 contracts.

Federal Reserve Outlook and Weekly Stock Gains

The inflation figures arrived as investors assessed prospects for another Federal Reserve interest-rate increase in December. The central bank held its benchmark rate at 3.75% to 4.00% on October 28, when two policymakers voted for a quarter-point increase.

Chris Zaccarelli, chief investment officer at Northlight Asset Management, said the latest wholesale inflation data were unlikely to change the Fed's December approach after the stronger consumer inflation reading.

"We believe the Fed will raise rates 25 bps in December," Zaccarelli said, while describing January as another possible meeting for action.

Meanwhile, oil prices remained elevated following Thursday's rise. West Texas Intermediate crude traded above $88 a barrel, while Brent stayed near $96. Bitcoin also fell below $70,000 during Friday's trading.

Despite Thursday's declines, major U.S. stock indexes remained on track for weekly gains. The Nasdaq had risen approximately 3.2% for the week, the S&P 500 was up about 2.9%, and the Dow was heading for an advance of nearly 2%.

NVIDIA is scheduled to report its third-quarter fiscal 2027 financial results on November 17, followed by an earnings call with company executives.

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