Newsquawk デイリー・アジア太平洋オープニングニュース - 2026年11月13日

US stocks were choppy as attention centred on Nvidia (NVDA), geopolitical developments and the neocloud sector. Indices ultimately closed lower, with the Russell 2000 underperforming, while the equal-weight S&P 500 ETF also declined, highlighting negative market breadth. Sectors were mixed, with energy and communication services outperforming, while materials and technology lagged. The main equity focus was the immediate resignation of Nvidia (NVDA) CEO Jensen Huang, which saw shares tumble as much as 14% in pre-market trade, although NVDA had pared a substantial portion of its losses during the session but still closed firmly in the red. Huang's departure appeared to benefit competitors AMD (AMD) and Broadcom (AVGO) in the semiconductor space, while disappointing guidance from Nebius (NBIS) weighed on neocloud stocks, reversing some of the sector's gains following CoreWeave's (CRWV) earnings report on Tuesday. USD was firmer against peers as higher US yields continued to offer an attractive rate differential environment for the buck. The move has continued in the aftermath of surprisingly hawkish comments from Fed's Waller and the hotter-than-expected CPI readings earlier in the week, while the latest data releases stateside showed an uptick in initial claims, though still at benign levels, while existing home sales declined more than expected. There was plenty of Fed speak throughout the day, including from Hammack, who said rates need to move higher to reach a restrictive stance, while Daly noted her bias is that further tightening will be needed, and Goolsbee stated the Fed should be mindful of signs the economy is overheating. Nonetheless, headlines centred on Nvidia and its CEO transition, with discussions emerging over whether it is an idiosyncratic or systemic risk, while participants await PPI data on Friday. Looking ahead, highlights include South Korean Money Supply, Peru Central Bank Rate Decision, Supply from Australia. SNAPSHOT STOCKS S&P 500 -0.4% Nasdaq Comp. -0.4% DJIA -0.4% Russell 2000 -1.6% ES Dec'26 -0.2% RTY Dec'26 -1.6% NQ Dec'26 -0.1% YM Dec'26 -0.3% FX DXY +0.3% (103.19) EUR/USD -0.3% USD/JPY +0.1% GBP/USD -0.3% BONDS US T-Note Dec'26 -25.5 ticks 10yr Bund Dec'26 -43 ticks US 10yr Yield 5.14% German 10yr Yield 3.33% ENERGY & METALS WTI Dec'26 +2.5% Brent Jan'27 +3.3% Spot Gold -3.0% LME Copper -1.5% CRYPTO Bitcoin -3.3% Ethereum -1.8% As of 21:35GMT/16:35EST LOOKING AHEAD Highlights include South Korean Money Supply, Peru Central Bank Rate Decision, Supply from Australia. Click for the Newsquawk Week Ahead. IRAN CONFLICT US President Trump stated that the US did not need a deal with Iran and that those days had long passed, while he added that Washington had secured Iran's money, worth hundreds of billions of dollars, as well as control of the Strait of Hormuz. Trump also commented that he had asked VP Vance "to focus his complete and total attention on the Massive Corruption and Crime taking place in Democrat run Cities and States throughout the U.S." US President Trump said Iran had lost control of Hormuz and that he won’t hesitate to take military action unless current measures deliver what the US wants. Explosions were heard at several points in Sirik, eastern Hormozgan province, while the nature of the explosions was unclear, but some sources stated the sounds were caused by warning shots fired at offending ships, according to Fars. Furthermore, official sources confirmed 'the enemy' struck Sirik in Iran's Hormozgan province in what was described as a military strike, according to IRNA. US CENTCOM said it was implementing President Trump's instructions regarding the naval blockade on Iran and was working to increase the flow of commercial vessels passing through the Strait of Hormuz. US CENTCOM informed the IDF that it must prepare for the possibility of renewed war, according to Kann citing a US official. Iranian Foreign Ministry spokesman Baghaei said any direct or indirect involvement in acts of aggression or what he described as economic terrorism against Iran would be regarded as a hostile and unlawful act. He also warned that any state participating in such actions, in whatever form, would bear full responsibility for the resulting repercussions. Iranian official denied claims that the government had halted negotiations with Russia and other regional countries over the creation of a gas corridor, according to ISNA. Israeli Defence Ministry senior official said there is currently no urgency for action in Iran, adding that there is a return to escalation, but there are currently no moves in Iran that justify a hasty move, according to N12 TV. UKMTO said it had received a report of an attack involving a tanker in the Strait of Hormuz, according to local authorities. The status of the crew, damage assessment and environmental impact remained unknown at the time of the report. Saudi King Salman insisted that Crown Prince Mohammed bin Salman maintain a hard line against the Houthis and warned him to be wary of Tehran's overtures during a visit on November 3rd, according to a Saudi royal source cited by Channel 14. Saudi-led coalition said a drone launched by the Houthis was intercepted and destroyed in the Riyadh area. Houthi spokesperson said its armed forces had carried out two military operations, with the first targeting pumping station No. 7 on the East-West pipeline and the second targeting the Yanbu oil facility. US TRADE US stocks were choppy as attention centred on Nvidia (NVDA), geopolitical developments and the neocloud sector. Indices ultimately closed lower, with the Russell 2000 underperforming, while the equal-weight S&P 500 ETF also declined, highlighting negative market breadth. Sectors were mixed, with energy and communication services outperforming, while materials and technology lagged. The main equity focus was the immediate resignation of Nvidia (NVDA) CEO Jensen Huang, which saw shares tumble as much as 14% in pre-market trade, although NVDA had pared a substantial portion of its losses during the session but still closed firmly in the red. Huang's departure appeared to benefit competitors AMD (AMD) and Broadcom (AVGO) in the semiconductor space, while disappointing guidance from Nebius (NBIS) weighed on neocloud stocks, reversing some of the sector's gains following CoreWeave's (CRWV) earnings report on Tuesday. SPX -0.35% at 7,593, NDX -0.30% at 28,289, DJI -0.36% at 52,299, RUT -1.61% at 2,800. Click here for a detailed summary. TARIFFS/TRADE US President Trump threatened to double tariffs on Mexico if it did not stop the crossing of the caravan into the US. US House Speaker Johnson said he supported limiting chip exports to China, adding that a consensus was developing on export controls. USTR Greer said Nvidia (NVDA) was a structurally important company and that the USTR remained concerned about the situation surrounding the chipmaker. Greer said the administration wanted leading-edge chips to remain in the hands of the US and its allies, while he added that Washington would determine its export controls and ensure they were properly enforced, as well as noted that the administration would investigate any problems involving export controls. US Senate Finance and House tax committees are set to launch an investigation into the Trump administration's approval of Nvidia (NVDA) chip exports to China, according to a letter from lawmakers. NOTABLE HEADLINES Fed's Barr (voter) said the impact of AI was currently being felt mostly through prices, while also supporting investment and GDP. He said there were not yet significant effects on the labour market, although AI could be contributing to weak hiring among younger workers and in certain occupations. Fed's Hammack (voter) said the Fed was performing well on the employment side of its mandate but had fallen short on inflation for years, and stated that recent inflation data showed price pressures moving in the wrong direction. Hammack noted that strong underlying demand was contributing to elevated inflation and that monetary policy needed to become restrictive to bring inflation down. She also warned that the economy could develop an inflationary mindset, but said she approached every FOMC meeting with an open mind. Furthermore, she prefers smaller and steadier rate moves, as well as maintained that rates needed to rise further to reach a restrictive policy stance. Fed's Daly (2027 voter) said there was no doubt of AI-fuelled price pressures, although AI was contributing directly only a modest amount to inflation. She said her bias was that further tightening would be needed, adding that tighter financial conditions were most welcome, but markets don't do the work of the Fed and keeping prices stable is the Fed's job. Fed's Goolsbee (2027 voter) said there was plenty of room for the Fed to discuss its policy options and that he did not want to prejudge the monetary policy outlook, while he stated that the Fed was failing on the inflation side of its mandate. Goolsbee also commented that inflation had been well above target and urged caution when assessing the data and considering the Fed's response. Furthermore, he described AI investment as a form of stimulus and said the Fed should remain alert to signs that the broader economy was overheating. Fed's Schmid (2028 voter) said the Fed still hasn't beaten the inflation enemy, while he also stated that hiring faces a perfect storm, with AI, uncertainty and rising input costs all holding it back. US President Trump called on Senate leadership to immediately advance the USD 350bln reconciliation bill, saying it would give US service members the decisive advantage they deserved. White House official said US President Trump was standing by Commerce Secretary Lutnick for now, despite growing scrutiny over the department's failure to act on longstanding concerns that China was gaining access to Nvidia's advanced chips, according to CNN. White House is discussing Commerce Secretary Lutnick's future in the role, according to sources. Nvidia (NVDA) announced a CEO transition, with Huang stepping down as CEO and board member, while Colette Kress was named interim CEO. The company had begun searching for a permanent CEO, with both internal and external candidates under consideration, while earnings remain scheduled for November 17th, and Harvey Jones was appointed Chair, having previously served as Chairman and CEO of Synopsys (SNPS). Former Nvidia (NVDA) CEO Huang had a relationship with a second employee, according to reports, citing sources. US is reportedly investigating whether Alice Huang helped smuggle Super Micro (SMCI) products. DATA RECAP US Existing Home Sales (Oct) 3.75M vs. Exp. 3.85M (Prev. 3.97M) US Initial Jobless Claims (Nov/07) 200K vs. Exp. 195K (Prev. 191K) US Continuing Jobless Claims (Oct/31) 1697K vs. Exp. 1710K (Prev. 1717K) FX USD was firmer against peers as higher US yields continued to offer an attractive rate differential environment for the buck. The move has continued in the aftermath of surprisingly hawkish comments from Fed's Waller and the hotter-than-expected CPI readings earlier in the week, while the latest data releases stateside showed an uptick in initial claims, though still at benign levels, while existing home sales declined more than expected. There was plenty of Fed speak throughout the day, including from Hammack, who said rates need to move higher to reach a restrictive stance, while Daly noted her bias is that further tightening will be needed, and Goolsbee stated the Fed should be mindful of signs the economy is overheating. Nonetheless, headlines centred on Nvidia and its CEO transition, with discussions emerging over whether it is an idiosyncratic or systemic risk, while participants await PPI data on Friday. EUR continued to give up ground to the firmer buck, while hawkish comments from ECB's Kazaks that a December rate hike was likely and that further tightening was necessary did little to spur the single currency. GBP was pressured amid the firmer dollar and despite the acceleration in quarterly GDP in the UK, which printed in line with expectations. JPY saw choppy price action with USD/JPY briefly breaching through 160.00 before suddenly retreating, which sparked some intervention and rate-check speculation. FIXED INCOME T-notes settled lower and yields bear flattened amid continued hawkish repricing of Fed expectations and renewed geopolitical uncertainty after President Trump said the US does not need an Iran deal. COMMODITIES Oil prices gained, as US-Iran updates were less conducive to improving relations, with a modest bounce seen in the European morning after the IRGC announced that two crude-carrying vessels had been struck in Hormuz, before further upside followed when US President Trump said that they don’t need a deal with Iran. Those days have long since passed”. The President also directed VP Vance to focus entirely on domestic issues. Vance had been seen as the potential face of a peace agreement with Iran, so the comment potentially implies the Rezaei meeting will not go ahead. Meanwhile, Fars reported explosions were heard at several points in Sirik, eastern Hormozgan province, Iran over the past few hours, and sources stated the sounds were caused by warning shots fired at offending ships, while IRNA then reported that explosions were due to a military strike. US EIA Crude Oil Stocks Change (Nov/06) 4.657M vs. Exp. -1.1M (Prev. -0.865M). GEOPOLITICAL RUSSIA-UKRAINE US Envoy Witkoff said a new round of talks had been agreed following his meeting with Russian President Putin, according to RIA. He described discussions with Putin as substantive and detailed, adding that Europeans would join the next meeting on Ukraine. Kremlin said Russian President Putin's talks with US envoys had been useful and that Moscow and Washington had agreed to remain in contact on the matter. It said Russia hoped Europe would support the idea of agreeing on a new security architecture for the continent, adding that Moscow had made clear NATO could not expand any further. Putin and the US envoys also agreed that Ukraine peace talks would continue. OTHER US President Trump said the US is monitoring Cuba very closely and wants to get Cuba done before he leaves office, while he responded that he would certainly consider it when asked whether he’d be okay with military force or a short campaign. ASIA-PAC NOTABLE HEADLINES EU/UK NOTABLE HEADLINES French President Macron and German Chancellor Merz reportedly said de Cos should succeed Lagarde as ECB President, although the German government later denied that Merz and Macron were backing de Cos for the role. ECB's Kazaks said a December rate hike was likely and that further tightening was necessary. ECB's Vujcic said further price pressures could emerge with a lag, while he also commented that France needed to deliver a credible fiscal adjustment. DATA RECAP UK GDP Growth Rate Prel (Q3 QQ) 0.7% vs. Exp. 0.7% (Prev. 0.5%) UK GDP Growth Rate Prel (Q3 YY) 1.9% vs. Exp. 1.9% (Prev. 1.4%)