Online used car sellers fall as Amazon expands into the market in deal with Hertz

Online used car sellers Carvana and CarMax are sinking on Wednesday, seemingly on the rule that when Amazon becomes interested in your industry, your future gets bleak.

On Wednesday, the tech giant partnered with Hertz to sell the rental company’s used vehicles on its Amazon Autos platform. The program is starting in four US cities, but the companies plan to expand it. Hertz shares spiked in premarket trading, but fellow online used car sellers like Carvana, CarMax, and rental agency Avis, which sells its cars itself after they’re done being rentals, all sank.

In its latest earnings report, Hertz said it had a fleet of more than 540,000 vehicles. Carvana sold more than 143,000 vehicles in its second quarter, and has a lofty goal to sell 3 million vehicles annually in 5 to 10 years. If Amazon continues to expand into the used car business, that may become even tougher.

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Nvidia spikes on report that the Trump administration is considering letting Nvidia sell its best Hopper chips to China

One big headline really can change price action.

Shares of Nvidia popped 2% after Bloomberg reported that the Trump administration is internally discussing the idea of letting Nvidia sell its H200 chips to China. These chips, unlike the H20, are not the nerfed versions that Nvidia designed specifically for sale to China, but rather are its best chips from its Hopper generation, which preceded Blackwell.

The president had mused about allowing Nvidia to sell Blackwell chips to China ahead of talks with Chinese President Xi in late October, but this item was reportedly axed from the agenda at the last minute, per The Wall Street Journal.

Nvidia’s success in 2025 has come despite, not because of, its China business. New export restrictions weighed on its ability to send H20 chips to the world’s second-largest economy. The company took a $4.5 billion impairment charge in its Q1 earnings related to this export ban, and said Q2 sales would have been $8 billion higher if these curbs were not in effect.

After Nvidia reached a deal with the Trump administration that restored its ability to ship that chip, China reportedly responded by banning its domestic technology companies from buying these semiconductors.

“Sizable purchase orders [for the H20] never materialized in the quarter due to geopolitical issues and the increasingly competitive market in China,” CFO Colette Kress said on a conference call with analysts on Wednesday.

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Airlines climb on falling oil prices as the US pushes for a Russia-Ukraine peace deal

Oil prices fell on Friday, with West Texas Intermediate crude futures down more than 2% amid a US push for a peace plan between Russia and Ukraine. The US has reportedly pitched a deal that would see Ukraine cede land to Russia and agree to never join NATO.

As the market repeatedly shows: what’s bad for crude is good for airlines, which stand to benefit from lower fuel costs. Shares of major US carriers are up on oil’s price action, with Southwest Airlines up more than 5% and the rest of the big four airlines — American Airlines, Delta Air Lines, and United Airlines — up more than 3%.

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