Stocks are rising to start the week, while crude oil prices are sliding. Gold and silver are higher, while interest rates and the dollar are lower.
Nvidia Corp. (NVDA) shares are sliding after reports CEO Jensen Huang had an affair with a woman named Alice Huang who was allegedly spying for China. Alice Huang worked at Megaspeed International, a data center company based in Singapore that used Nvidia chips in its facilities. The US government has reportedly been investigating Megaspeed for its ties to China’s government for more than a year. Nvidia stock is down 19.1% in the past month.
NVDA (Red), WTI Crude (Black) - 1-Mo. % Change
Source: TradingView
Crude oil prices are sliding after President Trump said it would be “highly unlikely” for the US to resume widespread strikes on Iran. He qualified the remarks by saying that was dependent on the US and Iran signing a “very strong agreement,” but traders latched on to the comments about a diplomatic solution anyway. WTI was recently trading around $87 a barrel, down 4% in the past month.
Finally, could SpaceX (SPCX) be looking to buy a legacy telecommunications company? That’s what some are wondering after CEO Elon Musk told an investment conference that the firm could use a legacy carrier’s airwaves “ten times more effectively.” SpaceX bought radio spectrum from EchoStar Corp. (ECHO) for $17 billion back in 2025. Buying a carrier would allow SpaceX’s Starlink Mobile business to grow faster, but any acquisition would require an extensive government review.
