US Stocks: S&P, Nasdaq End over 1% Higher as AI-Fueled Optimism Weighs
CoreWeave jumped 24.7% after saying it expects adjusted profitability in the first half of 2028, easing investor concerns over AI spending.
- Wall Street's main indices rose Wednesday, led by the tech-heavy Nasdaq's 1.6 per cent gain, as strong results from data centre operator CoreWeave eased concerns about the durability of the AI trade.
- CoreWeave reported sales of US$13-US$13.3 billion this year, beating estimates and soothing worries about the company's debt burden that fuelled a sharp sell-off last month.
- Sentiment improved across AI infrastructure stocks, as Nebius Group surged 15.4 per cent and Applied Digital shot up 7.4 per cent, while Nvidia stabilized after shedding about US$430 billion in market capitalization.
- Investors also weighed terms for the Anthropic IPO on Tuesday, targeting a valuation of up to US$1.4 trillion, with Vanda Research noting potential for record retail buying despite emerging regulation concerns.
- Market gains occurred despite expectations for a Federal Reserve rate hike next month, with traders fully pricing in at least 25 basis points and a 10.4 per cent chance of a 50 basis point increase, according to CME FedWatch.
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14 Articles
Stocks end higher as CoreWeave results ease AI spending worries
US stocks closed higher on Wednesday, with the S&P 500 and the Nasdaq each rallying more than 1% as earnings from neocloud firm CoreWeave cooled investor concerns about the durability of the AI trade, while Nvidia stabilized after two straight sessions of sharp declines.
Channel News Asia
Free Malaysia Today NewsTech bounce lifts global stocks as dollar gains
NEW YORK: Stock markets rose Wednesday (Nov 11) on renewed optimism over AI following strong results from data centre operator CoreWeave, while the dollar extended a rally on expectations for at least one more Federal Reserve interest rate hike.Wall Street's main indices enjoyed a buoyant
The Economic Times
Times of IndiaUS stocks: S&P, Nasdaq end over 1% higher as AI-fueled optimism weighs
CoreWeave reported strong earnings, easing investor concerns about spending on AI infrastructure and boosting stock prices. Both the S&P 500 and Nasdaq witnessed gains following these positive results in the tech sector. Nvidia also recovered, overcoming previous losses related to CEO controversies and market fluctuations. Meanwhile, inflation data raised expectations for an interest rate hike by the Federal Reserve in December.
AI Optimism Reignites the Tech Trade
Get a jump start on the US trading day with Dani Burger on "Bloomberg Open Interest." CoreWeave’s upbeat forecast reignites the tech trade, while Anthropic’s blockbuster IPO adds fresh fuel to AI optimism. Fed hike bets build after Austan Goolsbee sounds the alarm on inflation. Plus, Terry Haines joins us on the fallout from Nvidia’s scandal, and Ann Berry and Victoria Fernandez weigh in on the market setup. (Source: Bloomberg)
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