Nasdaq Jumps 1.6% as CoreWeave Fuels AI Rebound, Lifting Stocks

Mumbai, 11 November 2026: US equities closed sharply higher on Wednesday, led by the Nasdaq Composite, as CoreWeave’s strong quarterly results revived confidence in artificial intelligence spending and Nvidia rebounded from two sessions of steep losses. The technology-heavy index gained 1.60%, the S&P 500 rose 1.31% and the Dow Jones Industrial Average added 0.49%. Bond markets were closed for Veterans Day, leaving equity trading to absorb a heavy flow of technology-led catalysts.

Dow Jones Gains 254 Points as Nvidia Rebounds, Lifting The Blue-Chip Index

The Dow Jones Industrial Average opened at 52,196.35, touched an intraday low of 52,055.14 and a high of 52,512.72, before closing at 52,486.49, a gain of 254.60 points or 0.49%. The advance was led by Nvidia, which rose 4.6% to $176.59 and contributed the largest positive point impact.

Caterpillar added 2.91%, Cisco gained 2.92%, Apple rose 2.10%, Salesforce climbed 2.12%, Goldman Sachs added 1.83%, IBM gained 1.51% and Chevron rose 0.98%. Microsoft was the biggest drag, falling 2.42%, while McDonald’s lost 2.47%, Amazon declined 1.69%, Procter & Gamble slipped 0.63%, Merck fell 0.55% and UnitedHealth lost 0.54%. The index’s gain came even as the bond market remained shut, removing the usual cross-asset signal from Treasury yields.

The Dow’s advance was narrower than the S&P 500 and Nasdaq because its consumer and healthcare components lagged the technology rally. The blue-chip benchmark closed 26.23 points below its session high, having traded in an intraday range of 457.58 points. The index’s close above 52,400 marked a recovery from Tuesday’s decline, when the Dow fell 0.30% to 52,231.89 after hotter-than-expected inflation data.

S&P 500 Rises 1.31% as Chip Stocks Surge, Driving Broader Market Gains

The S&P 500 opened at 7,586.65, traded as low as 7,571.88 and as high as 7,647.20, and finished at 7,619.42, a gain of 98.49 points or 1.31%. The benchmark’s advance was driven by semiconductor and hardware shares, with SanDisk jumping 15.9%, Micron gaining 12%, Dell rising 13%, Oracle surging 9%, Seagate adding 10%, Western Digital gaining 8%, Marvell climbing 10%, Intel rising 8% and Broadcom adding 5%. Those moves outweighed weakness in healthcare and consumer staples.

Revolution Medicines fell 5.2%, Summit Therapeutics dropped 4.94%, KBR slid 3.97%, Campbell’s lost 3.92%, Conagra declined 3.65%, General Mills fell 2.62%, Amer Sports dropped 3.85% and Lululemon slipped 3.74%. The index closed 27.78 points below its intraday high and 47.54 points above its low, reflecting a session that strengthened into the afternoon but met resistance near 7,647.

The S&P 500’s 1.31% gain exceeded the Dow’s 0.49% advance but lagged the Nasdaq Composite’s 1.60% rise, a pattern consistent with the session’s technology concentration. The benchmark’s close above 7,600 reversed part of Tuesday’s 0.38% decline to 7,520.93. Trading volume across S&P 500 constituents exceeded 1.1 billion shares, according to market data. The index remained 2.9% below its 52-week high of 7,844.52.

Nasdaq Composite Gains 1.60% as CoreWeave Soars, Powering The Technology Rebound Today

The Nasdaq Composite opened at 25,448.80, reached an intraday high of 25,649.85 and a low of 25,326.69, and closed at 25,466.19, a gain of 400.31 points or 1.60%. CoreWeave paced the advance, surging 25.1% in its biggest one-day gain since June 2025, after the AI cloud provider reported third-quarter revenue of $3.66 billion, up 168%, and a pro forma operating margin of 10.4%.

Micron rose 12%, Arm gained 12.39%, Marvell added 9.46%, AMD climbed 7.22%, Intel rose 7.37%, Seagate gained 9.99% and Western Digital added 8.75%. Microsoft was the largest drag, falling 2.42%, while Meta lost 2.01% and Amazon declined 1.69%. The composite closed 183.66 points below its session high, indicating that the strongest buying occurred in the morning and early afternoon. The Nasdaq 100 rose 2.77% to 28,509.34, outpacing the composite and underscoring the mega-cap technology bias of the session.

The index’s 1.60% gain outperformed both the S&P 500 and the Dow, reflecting its heavier weighting towards technology and growth shares. The composite remained 8.1% below its 52-week high of 27,722.75. Its close above 25,400 marked a partial recovery from Tuesday’s 0.74% decline to 25,065.87.

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Russell 2000 Gains 0.88% as Small-Cap Shares Advance Across The Broader Market

The Russell 2000 opened at 2,842.15, traded between 2,832.42 and 2,852.14, and closed at 2,846.18, a gain of 24.81 points or 0.88%. Small-cap technology and energy names led the advance, with Bloom Energy rising 13.51%, FormFactor gaining 14.04%, Semtech adding 12.49%, Credo rising 9.01%, Applied Digital gaining 8.33%, Core Scientific adding 10.81%, TeraWulf rising 7.09% and Hut 8 gaining 7.98%.

Those gains were offset partly by declines in healthcare and quantum-related shares, with Mirion falling 8.10%, Rigetti dropping 7.90%, Twist Bioscience losing 5.96% and IONQ declining 2.20%. The index closed 5.96 points below its intraday high and 13.76 points above its low.

The Russell 2000’s 0.88% gain lagged the Nasdaq Composite but exceeded the Dow, reflecting a session in which smaller companies participated in the technology-led advance without matching the mega-cap momentum.

S&P 100 Gains 1.48% as Mega-Cap Technology Shares Lead The Daily Advance

The S&P 100 opened at 3,732.98, reached a high of 3,762.78 and a low of 3,724.10, and closed at 3,751.33, a gain of 54.55 points or 1.48%. Mega-cap technology and communications names drove the index, with Nvidia rising 4.6%, Apple gaining 2.10%, Alphabet adding 2.19%, Broadcom rising 4.11%, Oracle surging 9.24% and Micron jumping 11.82%. Microsoft was the principal drag, falling 2.42%, while Amazon declined 1.69% and Meta lost 2.01%. The index closed 11.45 points below its session high. Its 1.48% gain exceeded the S&P 500’s 1.31% advance, consistent with the session’s large-cap technology leadership.

Dow Composite Gains 0.62% as Transport and Utility Averages Diverge Sharply Today

The Dow Jones Composite Average opened at 16,460.12, traded between 16,427.26 and 16,569.88, and closed at 16,567.27, a gain of 102.36 points or 0.62%. The Dow Jones Transportation Average opened at 20,426.54, reached a high of 20,664.60 and a low of 20,354.29, and closed at 20,658.65, a gain of 242.07 points or 1.19%.

The Dow Jones Utility Average opened at 1,112.79, traded between 1,108.16 and 1,115.80, and closed at 1,114.56, a gain of 2.15 points or 0.19%. The transport average outperformed both the composite and the utility average, reflecting strength in industrial and transportation constituents, while utilities lagged as defensive sectors underperformed. The composite closed 2.61 points below its high.

SOX Surges 5.66% as Micron And Marvell Lead Broad Semiconductor Stock Rally

The Philadelphia Semiconductor Index opened at 10,469.04, reached an intraday high of 10,787.06 and a low of 10,287.32, and closed at 10,564.11, a gain of 565.78 points or 5.66%. Micron rose 12%, Marvell gained 10%, Intel added 8%, Broadcom rose 5%, AMD climbed 7.22%, Arm gained 12.39%, Applied Materials added 6.22%, Lam Research rose 6.09% and KLA gained 5.63%. The index closed 222.95 points below its session high. The 5.66% advance was the strongest among the major sector benchmarks, reflecting the session’s concentrated semiconductor leadership.

NYSE Composite Gains 0.77% as Broad Market Shares Track US Technology Strength

The NYSE Composite opened at 24,526.39, traded between 24,459.44 and 24,653.65, and closed at 24,650.94, a gain of 188.61 points or 0.77%. The advance was broad, with technology, energy and industrial shares contributing, while healthcare and consumer staples lagged. The index closed 2.71 points below its intraday high. Its 0.77% gain lagged the S&P 500 and Nasdaq but exceeded the Dow, reflecting a market-wide advance that was nevertheless concentrated in growth shares. The composite remained 0.9% below its 52-week high of 24,866.75.

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S&P MidCap 400 Gains 0.84% as SmallCap 600 Adds 0.80% During Session

The S&P MidCap 400 opened at 3,715.37, traded between 3,697.41 and 3,734.08, and closed at 3,731.96, a gain of 31.15 points or 0.84%. The S&P SmallCap 600 opened at 1,722.27, traded between 1,718.42 and 1,730.35, and closed at 1,730.00, a gain of 13.78 points or 0.80%. Both benchmarks closed near their intraday highs, with the MidCap 400 finishing 2.12 points below its high and the SmallCap 600 closing 0.35 points below its high. The mid-cap index’s 0.84% gain slightly exceeded the small-cap index’s 0.80% advance, reflecting a session in which mid-sized technology and industrial shares participated in the broader rally.

CoreWeave Earnings and Nvidia Rebound Drive the 1.31% S&P 500 Advance

The principal catalyst was CoreWeave’s third-quarter results, released after Tuesday’s close. The AI cloud provider reported revenue of $3.66 billion, up 168% year on year, and a pro forma operating margin of 10.4%. It raised its full-year revenue forecast to $13.3 billion and disclosed a business backlog of $133 billion.

The company said it does not plan to issue parent-level unsecured debt through 2027 at current yields and expects less than $5 billion of parent-level capital needs over that period. Those disclosures eased concerns about the financing of AI infrastructure spending and triggered a 25.1% rally in CoreWeave shares.

Nvidia rebounded 4.6% after falling nearly 10% over the previous two sessions. The chipmaker had been pressured by news that its board was investigating CEO Jensen Huang’s relationship with a woman alleged to be a Chinese spy. The stock remained down about 14% in November and had lost roughly $700 billion in market value before Wednesday’s advance.

A secondary catalyst was the renewed geopolitical risk around Iran. Tehran’s security chief said enriched nuclear material would not leave the country, reviving supply concerns and lifting crude oil prices. The bond market was closed for Veterans Day, so the session lacked a same-day Treasury yield close, although Tuesday’s inflation-driven sell-off remained the policy backdrop.

VIX Falls 9.82% to 17.55 as Market Volatility Eases Across US Indices

The CBOE Volatility Index changed -9.82% to 17.55, compared with its previous close of 19.46. The index opened at 18.81, reached a high of 18.96 and a low of 17.33. Its decline coincided with the equity rally and the 5.66% surge in the Philadelphia Semiconductor Index.

The CBOE Nasdaq Volatility Index fell 5.45 points from the prior week, although a same-day closing level was not available because of the Veterans Day bond-market closure. The VIX’s move below 18 indicated lower expected volatility for the S&P 500 over the coming 30 days, in line with the session’s broad equity advance.

Technology Leads S&P 500 Sectors With 4.1% Gain as Health Care Falls

Performance across the 11 S&P 500 sectors was mixed, with technology providing the strongest support. The Technology Select Sector SPDR Fund rose 4.1%, the Energy Select Sector SPDR Fund gained 1.3%, the Industrials Select Sector SPDR Fund added 1.3% and the Communication Services Select Sector SPDR Fund rose 0.9%. The Health Care Select Sector SPDR Fund was the weakest, falling 0.7%, while consumer staples, real estate, consumer discretionary and utilities also slipped.

Financials and materials were mixed, with financials ending slightly lower and materials little changed. The sector pattern reflected a rotation away from defensive groups and towards growth and cyclical names, driven by the technology-led rally.

The technology sector’s 4.1% gain was the widest among the 11 groups, while health care’s 0.7% decline was the deepest. The energy sector’s 1.3% gain coincided with higher crude oil prices, while industrials benefited from the broader cyclical rotation.

CoreWeave Surges 25% as Nvidia Gains 4.6% Among Top Index Movers Daily

Among the Magnificent Seven, Nvidia rose 4.6%, Apple gained 2.12%, Alphabet added 2.19%, Tesla climbed 3.09%, Amazon fell 1.69%, Meta lost 2.01% and Microsoft declined 2.42%. CoreWeave’s 25.1% advance led the Russell 1000 gainers, followed by Fermi at 23.05%, Applied Optoelectronics at 18.04%, SanDisk at 15.9% and Bloom Energy at 15.53%.

The largest Russell 1000 declines were Revolution Medicines at -5.2%, Summit Therapeutics at -4.94%, KBR at -3.97%, Campbell’s at -3.92% and Amer Sports at -3.85%. The dispersion reflected a session in which AI infrastructure and semiconductor shares outperformed while healthcare, packaged foods and consumer discretionary names lagged.

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Semiconductor Stocks Surge 5.66% as Financial And Energy Shares Diverge Sharply Today

Semiconductor stocks were sharply higher, with the Philadelphia Semiconductor Index gaining 5.66%. The iShares Semiconductor ETF rose 6%, while the VanEck Semiconductor ETF gained 6.3%. Micron, Marvell, Intel, Broadcom, AMD, Arm, Applied Materials, Lam Research and KLA all recorded gains of between 5% and 12%.

The memory segment was particularly strong, with Micron, SanDisk, Seagate and Western Digital all posting double-digit or near-double-digit gains. Financial stocks were mixed, with the Financial Select Sector SPDR Fund ending slightly lower, as higher rate expectations failed to lift bank shares uniformly.

Energy stocks moved higher alongside crude oil, with the Energy Select Sector SPDR Fund gaining 1.3%. AI and growth stocks were higher, with CoreWeave’s 25.1% advance and Nvidia’s 4.6% gain supporting the technology-heavy indices. The divergence between semiconductors and financials reflected the session’s growth-oriented character, with rate-sensitive sectors lagging the AI-driven advance.

Mortgage Applications Rise 6.2% as 30-Year Fixed Rate Falls to 7.21% Today

The Mortgage Bankers Association reported that mortgage applications rose 6.2% in the week ended 6 November, compared with the previous week. The average contract rate on a 30-year fixed-rate mortgage fell to 7.21% from 7.30%, a decline of 9 basis points and the fourth consecutive weekly decline.

The data provided the session’s main economic release, with the bond market closed for Veterans Day and no other major indicators scheduled. The decline in mortgage rates coincided with a pause in Treasury market trading, although the prior session’s inflation data had pushed rate expectations higher.

The mortgage data reflected conditions before the release of October’s consumer price index, which showed a 0.4% monthly increase and reinforced expectations of further Federal Reserve tightening.

10-Year Treasury Yield Holds Near 5% as Fed Hike Bets Intensify Further

The Federal Reserve remained the central policy focus, with traders pricing an 87% probability of a 25-basis-point rate hike in December, up from about 70% a month earlier, according to CME’s FedWatch tool. The bond market was closed on Wednesday for Veterans Day, so no official Treasury closes were published.

The 10-year Treasury yield had finished Tuesday at 4.99%, up 11 basis points, after briefly touching 5.03% intraday. The 2-year yield had risen to 4.76% intraday on Tuesday, its highest level in more than two years.

Fed Governor Christopher Waller said inflation remained too high and that tightening was necessary “sooner, rather than later,” while Dallas Fed President Lorie Logan also called for prompt action. The yield curve’s move reflected the inflation data and the hawkish official commentary, which together reinforced the case for higher rates in December.

WTI Crude Gains 2% to $87.76 as Iran Supply Concerns Return Again

WTI crude closed at $87.76 a barrel, up 2%, while Brent crude settled at $93.64, a gain of 2.3%. The advance followed Iran’s security chief saying enriched nuclear material would not leave the country, reviving supply concerns after Tuesday’s two-month lows.

Gold fell 0.6% to $4,007 an ounce, while silver rose 1.7% to $52.08. The US Dollar Index rose 0.63% to 102.85, its highest level since April 2025, supported by higher rate expectations. EUR/USD fell 0.61% to 1.11, USD/JPY rose 0.69% to 159.83 and GBP/USD declined 0.47% to 1.33. The currency moves followed the inflation data and hawkish Fed commentary, which widened the interest-rate differential in favour of the dollar.

The closing session was shaped by CoreWeave’s earnings and Nvidia’s rebound, alongside renewed Iran-related oil supply concerns. The Nasdaq Composite gained 1.60%, the S&P 500 rose 1.31% and the Dow added 0.49%, while semiconductor shares surged and health care lagged. These figures summarise the session’s key market developments.