Stock Market Today: Dow Jones, S&P 500, Nasdaq 100  Futures Rise as Nvidia CEO Exit Remains in Focus

U.S. stock futures pared losses to rise on Friday, as the Dow Jones, S&P 500, and Nasdaq 100 indices were higher after Thursday's close lower.

U.S. wholesale prices rose 0.3% in October based on the Producer Price Index (PPI) for final demand, reflecting a deceleration from September's 1.4% advance. On an unadjusted basis, however, the index climbed 6.5% for the 12 months ended in October, marking the largest year-over-year increase since November 2022. The monthly advance was led by a 0.5% rise in prices for final demand goods, while prices for final demand services moved up 0.2%.

President Donald Trump said Mexico must stop migrant caravans heading north or face immediately doubled tariffs, writing on Truth Social that "There will be no leniency," and that Mexico’s tariff would be "Immediately Doubled." Reuters reported that more than 1,500 migrants began marching from southern Mexico toward Mexico City on Tuesday.

Separately, Trump urged Nvidia CEO Jensen Huang to fight for his job during a Tuesday phone call, two days before Nvidia announced Huang’s resignation; Nvidia said it appointed finance chief Colette Kress interim CEO and named Harvey Jones board chair while launching a permanent successor search.

Meanwhile, the 10-year Treasury bond yielded 5.12%, and the 2-year Treasury bond yielded 4.85%, at the last check. The CME Group’s FedWatch tool projections show markets pricing in a 100% likelihood of the Federal Reserve hiking interest rates after its December meeting.

The SPDR S&P 500 ETF Trust (NYSE: SPY), the Invesco QQQ Trust ETF (NASDAQ: QQQ) and the SPDR Dow Jones Industrial Average ETF Trust (NYSE: DIA), which track the S&P 500 index, Nasdaq 100 index and Dow Jones Industrial Average, respectively, were hugher in premarket trading on Friday. The SPY was up 0.36% at $759.81, the QQQ advanced 0.18% to $689.39, and the DIA rose 0.37% to $524.40.