Key facts
- CoreWeave said it would become profitable on an adjusted basis in the first half of 2028.
- Nvidia shares jumped 4% premarket after shedding about $480 billion in value over two sessions.
- Traders see a rate hike next month as a certainty, with an 11.5% chance of a half-percentage-point increase, per CME FedWatch.
- Anthropic is aiming for a valuation of up to $1.4 trillion in its initial public offering.
- The US bond market was shut on Nov. 11, 2026 for the Veterans Day holiday.
Futures tracking the S&P 500 and Nasdaq 100 indexes rose on Wednesday, Nov. 11, 2026, after strong results from CoreWeave allowed investors to look past fears of excessive AI spending. At 5:04 a.m. ET, S&P 500 E-minis rose 55.75 points, or 0.74%, and Nasdaq 100 E-minis climbed 465.25 points, or 1.67%. Dow E-minis inched 15 points, or 0.03%, higher.
CoreWeave's stock jumped over 10% premarket after the company said it would become profitable on an adjusted basis in the first half of 2028, allaying concerns about its debt burden. Equities have been caught in a tug of war this week, with worries over slower data center deployment pitted against an appetite to buy the dip.
The hotter-than-expected inflation data on Tuesday complicated the backdrop, reinforcing expectations that the Federal Reserve may have to raise rates next month. US consumer prices increased more than expected in October amid higher costs for food and accommodation, data on Tuesday showed. Traders see a hike next month as a certainty, with an 11.5% chance of a half-percentage-point increase, according to the CME FedWatch tool.
Before the Consumer Price Index print was released on Tuesday, Fed Governor Christopher Waller said the central bank should consider raising borrowing costs by 50 basis points if October inflation worsened. A tamer approach risks hurting the Fed's inflation-fighting credibility, he said.
Shares of Nvidia jumped 4% premarket after shedding about $480 billion of their value over the last two sessions as questions about CEO Jensen Huang's relationship with a Chinese businesswoman alleged to be a spy for Beijing intensified. Other chipmakers also roared back, with Marvell Technology and Micron up nearly 7% each.
Investors digested the terms set by Anthropic on Tuesday for its blockbuster initial public offering. The Claude chatbot creator is aiming for a valuation of up to $1.4 trillion in the share sale. The US bond market was shut on Wednesday for the Veterans Day holiday.