> ## Content Index > Fetch the complete content index at: https://www.sharespective.com/llms.txt > Use this file to discover other available public pages before exploring further. # Everything Except Nvidia - URL: https://www.sharespective.com/sharespective-2026-11-10/ - Published: 2026-11-09T22:15:00.000Z - Updated: 2026-11-09T22:15:00.000Z - Description: Rocket Lab's order book grew 52% in a single quarter. - Author: Shaun Botha - Tags: Daily | ![](https://storage.ghost.io/c/02/71/0271df32-cec6-421f-9f13-b06ab90e54c1/content/images/2026/08/mark-light-3.png) | SharespectiveWall Street, before morning tea | Daily newsletterTue 10 Nov 2026 | | ------------------------------------------------------------------------------------------------------------------ | -------------------------------------------- | ------------------------------- | | ![Today's edition](https://storage.ghost.io/c/02/71/0271df32-cec6-421f-9f13-b06ab90e54c1/content/images/2026/08/kicker-1.png)Everything Except Nvidia**Plus:** Rocket Lab's order book grew 52% in a single quarter. | | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | **Good morning, and welcome to Tuesday.** Wall Street took back most of last week's damage in a single session. The S&P 500 rose 2.35% to 7,549.94, its best day since April, and the NASDAQ Composite gained 2.74%. Nvidia sat the party out. The chip maker fell 4.3% while almost everything around it rose, after its board opened an investigation into founder and chief executive Jensen Huang. In other company news, Constellation Energy rose about 10% after third-quarter profit beat expectations and the company raised its guidance. Elsewhere, The Trade Desk climbed more than 15% after co-founder Dave Pickles returned as chief technology officer, hours ahead of its results. Finally, United Airlines added about 6% as cheaper oil cut its fuel bill. Cheap oil cures a lot. ### Market snapshot | S&P 5007,549.94**▲ 2.35%** | ​ | NASDAQ25,253.14**▲ 2.74%** | ​ | NZX 5013,973.62**▼ 0.18%** | | -------------------------- | - | -------------------------- | - | -------------------------- | | ​ | | | | | | ASX 2009,029.70**▲ 0.10%** | ​ | NvidiaUS$178.67**▼ 4.27%** | ​ | AMDUS$508.58**▲ 13.26%** | US levels are Monday 9 November's closes in New York; the NZX 50 and ASX 200 are Monday's local closes. The Nvidia and AMD rows show that session's closing price and that session's move. | ​ | SEMICONDUCTORS | | - | -------------- | ## Nvidia fell 4.3% on a boardroom problem while the rest of the chip trade surged Nvidia closed at US$178.67 on Monday, down 4.27%. Everything around it went the other way. AMD rose 13.26% to US$508.58 and Broadcom added 8.8%. **So what is Nvidia actually investigating?** The board has opened an independent inquiry into reports that Huang was the target of a foreign intelligence effort. A committee of independent directors is running it, with outside counsel. The board also said it has no reason to believe that national security or Nvidia's own secrets were compromised. Huang told staff, in a message the company released, "I was unfaithful to my wife". China's foreign ministry has called the underlying reporting baseless. AMD had a much better Monday. Oppenheimer lifted the stock to outperform on data centre sales that nearly doubled last quarter, and the shares have now recovered all of Thursday's 17.26% collapse and a bit more. | Our viewan inquiry into a chief executive does not change how many chips Nvidia can ship, and the company reports on 19 November. I'd want to see whether a single large customer hesitates before treating this as more than a bad fortnight for the share price. | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | | ​ | ENERGY | | - | ------ | ## An $8 billion Iranian proposal reached the White House and took another 4% off oil West Texas Intermediate settled at US$86.85 on Monday, down 4.4%. Brent dropped below US$93\. Both have been sliding since Iran and the United States began signalling they would rather talk than fight. **Qatar's prime minister is carrying the paperwork.** An Iranian proposal landed at the White House on Monday. Iran would reopen the Strait of Hormuz and stop attacking tankers in the Gulf. Washington's side of it is larger than it looks. It would lift the naval and economic blockade of Iran and release US$8 billion of Iranian money frozen in Qatar. Tehran has dropped its demand to control the strait and charge ships to pass. Two things could still sink the whole thing. Iran will not discuss its nuclear programme, and several of Donald Trump's cabinet oppose any deal. Trump said further American strikes are "highly unlikely" if the talks produce a strong result. | What to watchwhether barrels actually move. Iraq has separately agreed with Washington to lift its own exports through Hormuz, and cargoes leaving port can be counted. The Iranian proposal has not been signed by anybody. | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | ​ | SPACE | | - | ----- | ## Rocket Lab's order book grew by half in three months Rocket Lab, which still flies its small Electron rocket out of Māhia, finished September with an order book of US$3.6 billion. That is 52% bigger than three months earlier. Revenue was a record US$267.8 million for the quarter, up 73% on a year ago. **Neutron is where the money went.** The company signed more than US$515 million of contracts for the bigger rocket during the quarter, 16 missions in all, before it has flown once. The base price on several of them is US$70 million. The loss got bigger too. Rocket Lab lost US$79.7 million in the quarter, or 12 US cents a share, against the 7 cents analysts expected. Operating cash flow was positive, at US$7.2 million. Shares rose about 11% during Monday's session, before any of this was public, then gave back about 7% after hours. December-quarter revenue is guided to between US$270 million and US$290 million. | The open questionNeutron has not flown and will not before 2027, and its debut has already slipped once. Our read is that US$4.4 billion of cash against an US$80 million quarterly loss buys Sir Peter Beck plenty of time to get it off the pad. | | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ### Newsworthy numbers | ​ | ​ | ​ | | -------------------------------------------------------------------------------------------------------------------------------------------------------------- | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | US$1.27trnthe market value Nvidia has shed since its 6 October peak, across five straight losing weeks. It is still worth about US$4.5 trillion. | ​ | 4.9%the US 10-year Treasury yield on Monday, which crept up while shares surged. | | ​ | | | | ​ | ​ | ​ | | US$450what a 23-year-old in Missouri charges for a private show by the Rock-afire Explosion, the animatronic pizza-parlour band he has rebuilt almost in full. | ​ | 18%the extra risk of dying from cancer found in men with very low testosterone, in a study of more than 26,000 men in The Lancet Healthy Longevity. The authors say it is no reason to take supplements. | ### Worth a read | ​ | | | -- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | 01 | **[Your staff's KiwiSaver already owns the AI bubble](https://b2bnews.co.nz/news/kiwisavers-69b-offshore-equity-bet-on-the-ai-bubble/?ref=sharespective.com)** — New Zealand's retirement savings hold about $69 billion of offshore shares, much of it tracking the same handful of American tech names. Last week's selloff was felt in Hamilton as well as Palo Alto. | | ​ | | | 02 | **[Rest of World faces prospect of shutting down](https://www.semafor.com/article/10/25/2026/rest-of-world-faces-prospect-of-shutting-down?ref=sharespective.com)** — Max Tani on a publication that spent US$60 million reporting technology from more than 100 countries and now has a January wind-down date. Search and social traffic went first. | | ​ | | | 03 | **[Welcome, wedding crashers](https://thehustle.co/newsletters/09-11-2026?ref=sharespective.com)** — a marketplace that sells the empty seats at your wedding to strangers who fancy a night out. About 20,000 people have signed up, and a seat goes for US$25 to US$200. | | ​ | | | 04 | **[JWST tracks more than 100 magnified stellar events in the Dragon galaxy](https://phys.org/news/2026-11-jwst-tracks-magnified-stellar-events.html?ref=sharespective.com)** — astronomers counted 104 individual stars flaring into view 6.5 billion light years away, more than doubling the old record of 44\. How they are spread hints at what dark matter is made of. | | ​ | | | 05 | **[Burying the Evidence](https://longreads.com/2026/11/05/time-capsules-ashley-stimpson/?ref=sharespective.com)** — Ashley Stimpson on the American habit of burying messages for the future, including 917,000 bicentennial scrolls that nobody can now find. Nine in ten time capsules go missing. | ### Wrapping up Futures had a December rate rise at about 80% yesterday morning and about 82% by Monday's close in New York. The Federal Reserve decides on 9 December, which arrives at 8​am Thursday 10 December in Auckland and 6​am in Sydney. The Reserve Bank of Australia publishes its November minutes at 1.30​pm today in Auckland and 11.30​am in Sydney. Australian third-quarter wages follow on Wednesday at the same hour, with economists expecting a 0.8% quarterly rise. New Zealand's October trade figures land at 10.45​am Friday, 8.45​am in Sydney. USD/NZD fell to 1.78 and USD/AUD to 1.45, with the kiwi up 1.3% on the day. The Iran news pulled money back into the riskier currencies after a rough week for both. Māhia to the Nasdaq is quite a trip. Back tomorrow. ​ General information and commentary only, not financial advice. It does not take account of your objectives, financial situation or needs, and reflects the author's own reading of public information at the time of writing, which may be wrong. Sharespective, its people and its clients may hold positions in the companies covered. Do your own research and talk to a licensed adviser.