US Open: Wall Street starts higher on Monday; Tesla surges, while NVIDIA faces challenges

• Wall Street with flat open on Monday
• NVIDIA shares declined amid overheating issues
• Tesla shares surged following reports that President-elect Trump's transition team plans to relax a federal framework for self-driving vehicles.
• Super Micro Computer approaches a crucial deadline regarding its delayed 10-K annual report filing with Nasdaq.

US equities opened mixed with US30 down 0.1%. Nasdaq 100 and  Russell 2000 gain 0.3% and 0.2% respectively, while US500 is flat.

In Europe the indices are red today. German DAX40, Polish W20 and Italian ITA40 are leading losses being down 0.6%, 0.7% and 0.7% respectively. French CAC40 is 0.33% lower, while British UK100 drops 0.15%. Austrian AUT20 is set for lowest loss, currently at -0.08%.

NVIDIA shares declined 2.65% following reports of technical challenges with its upcoming Blackwell server racks. Tesla shares surged 7% in premarket trading following reports that President-elect Trump's transition team plans to prioritize a federal framework for self-driving vehicles. CVS Health shares rose 2% to $54.30 in premarket trading after announcing the addition of four new board members, including Glenview Capital CEO Larry Robbins, as part of a standstill agreement with the activist investor. Super Micro Computer approaches a crucial deadline regarding its delayed 10-K annual report filing with Nasdaq.

Current volatility observed on Wall Street. Source: xStation 

The Nasdaq-100 index, represented by the US100 contract, is trading near the mid-October high of 20,638, now serving as initial resistance for bulls. Key support for bears includes the 50-day SMA at 20,320 and the August highs around 19,917, aligning with the 100-day SMA. RSI is gradually diverging lower while attempting to break bearish divergence, and MACD issued a sell signal during Friday's session. However, the widening gap between the 50-day and 100-day SMA indicates bullish strength and potential support. Source: xStation

News:

• NVIDIA (NVDA.US) shares declined 2.65% following reports of technical challenges with its upcoming Blackwell server racks. The semiconductor giant faces overheating issues in configurations with 72 chips, requiring multiple redesigns ahead of its Q3 earnings report. Despite these challenges, analysts maintain optimistic projections with expected revenue growth of 81% YoY to $32.8B. Nvidia maintains its dominant market position with an anticipated 66% market share by 2026 and emphasized these issues represent normal engineering iterations. The company continues successful production scaling of current H100 and H200 chips.
• Tesla (TSLA.US) shares surged 6% following reports that President-elect Trump's transition team plans to prioritize a federal framework for self-driving vehicles. The EV maker recently unveiled its "Cybercab" robotaxi concept, a $30,000 two-seater vehicle without steering wheels or pedals. Tesla expects to launch "unsupervised" Full Self-Driving technology in Texas and California next year for Model 3 and Model Y vehicles. The potential regulatory changes could accelerate Tesla's autonomous vehicle ambitions, though the company trails Waymo in actual robotaxi deployment. 
• CVS Health (CVS.US) shares rose 1.8% to $54.16 after announcing the addition of four new board members, including Glenview Capital CEO Larry Robbins, as part of a standstill agreement with the activist investor. The healthcare giant recently appointed David Joyner as CEO, replacing Karen Lynch, and named Steve Nelson to lead its Aetna business amid challenges with rising medical costs. Glenview, holding a 0.95% stake, agreed to confidential provisions as part of the deal.

• Super Micro Computer (SMCI.US) shares climbed 18% as the server manufacturer approaches a crucial deadline regarding its delayed 10-K annual report filing with Nasdaq. The company must either submit the report or present a filing plan to maintain its listing status. This development follows recent share volatility, including an 11% drop.

Other news coming from individual S&P 500 index companies. Source: Bloomberg Financial LP