Stocks Rally Monday as AMD, Intel and Applied Materials Jump While Nvidia Slides

U.S. stocks rallied Monday morning, Nov. 9, led by chip stocks, even as Nvidia fell after its board opened an investigation into CEO Jensen Huang.

As of 8:30 a.m. PT, the Dow Jones Industrial Average was up 1.7%, the S&P 500 up 2.1% and the Nasdaq Composite up 2.6%, Yahoo Finance reported. All three indexes fell last week.

Bay Area stocks

Early in the session, Santa Clara-based AMD was up about 10.9% and Intel about 5.2%, while Applied Materials rose about 6.7% and San Jose's Cadence Design Systems about 5.6%, according to Sharecast. Nvidia was down about 7.5%. Yahoo Finance said Nvidia had fallen as much as 8% before the selling eased.

Tesla was up about 7.8% in early trading, Sharecast's data showed.

What's next

Investors are watching the consumer price index on Tuesday and the producer price index on Friday. Take-Two Interactive, Occidental Petroleum and Skydance report after Monday's close, and CoreWeave, Cisco and Applied Materials report later this week. Brent crude was near $95 a barrel.

Related: Nvidia stock falls after board opens probe of Jensen Huang.

Market figures are intraday and will change by the close.