- At 7:35 a.m. ET, Nasdaq 100 futures were up 1.9%, S&P 500 futures 0.9% and Dow futures 68 points (0.1%), CNBC reported [1].
- CoreWeave was up 15.3% at $56.12 pre-market at 7:50 a.m. ET, per Yahoo Finance data cited by Cointelegraph, even as Stifel cut its target to $60 from $120 on funding concerns [4][5].
- Nvidia rose about 5% pre-market even as Baird downgraded it to neutral and cut its target to $200 from $500; Micron, AMD and Intel were up more than 6% [2][3][6].
- The Stoxx 600 was up 0.3% at 12:13 GMT, near its August record, and Brent rose 1.4% to $92.8 after Iran's security chief said enriched uranium will not leave the country, Reuters reported [7][8].
- The US cash Treasury market is closed for Veterans Day; October PPI is due Friday at 8:30 a.m. ET, and the CNBC/NRF Retail Monitor showed October sales rising at the slowest pace in nearly a year [1][9][12].
US stock futures held a tech-led rebound into the final hour before Wednesday's open, after Tuesday's inflation selloff. In CNBC's 7:35 a.m. ET update, Nasdaq 100 futures were up 1.9% and S&P 500 futures 0.9%, while Dow futures were up 68 points, or 0.1% [1]. On Tuesday the S&P 500 closed down 0.38% at 7,520.93, the Nasdaq Composite fell 0.74% to 25,065.87 and the Dow lost 0.3% to 52,231.89, after October CPI came in hotter than expected [1].
CoreWeave remained the main driver. Its shares were up 15.27% at $56.12 in pre-market trading at 12:50 UTC (7:50 a.m. ET), according to Yahoo Finance data cited by Cointelegraph, after gains of 13% to 13.7% in CNBC and Investing.com roundups earlier in the morning [2][3][4]. The company reported third-quarter revenue up 168% to $3.66 billion, above the $3.55 billion LSEG consensus, and raised its 2026 revenue forecast to $13 billion to $13.3 billion [2][14]. Not every analyst was won over: Stifel kept a hold rating and cut its price target to $60 from $120, saying the plan "relies on prepayments and continued access to secured markets" amid "reduced risk appetite," Investing.com reported [5].
Nvidia, chips and other movers
Nvidia was up about 5% pre-market, CNBC reported, and Investing.com put it 4.9% higher at $177.08, recovering part of a nearly 10% drop over the first two sessions of the week [2][3]. That came despite Baird cutting Nvidia to neutral from outperform and its price target to $200 from $500, with analyst Tristan Gerra citing uncertainty over Chief Executive Jensen Huang, a possible new ban on H200 exports to China and slowing hyperscaler capital spending [6]. Just three of 64 analysts tracked by LSEG rate the stock hold or underperform, CNBC reported [6]. Nvidia reports third-quarter results on Nov. 17, according to CNBC [15].
The rally spread across chips: Micron was up 6.5%, AMD 6.4%, Intel 6.2% and Broadcom 4.2% in Investing.com's pre-market roundup [3]. Neocloud peers Nebius and IREN were up 11.4% and 7.9% earlier in the morning, CNBC reported [1].
Outside tech, Talen Energy was up nearly 5% after agreeing to sell 750 megawatts of capacity to an investment-grade counterparty under a seven-year deal worth about $100 million a year, and GPS backup provider NextNav climbed 9% after its third-quarter loss narrowed, CNBC reported [2]. Fossil jumped 20.2% after hours on an unexpected quarterly profit and a higher 2026 revenue outlook, and Tandy Leather Factory rose 10.7%, according to Investing.com [3].
Europe and Asia
The pan-European Stoxx 600 was up 0.3% at 12:13 GMT (7:13 a.m. ET), nearing its August record high, Reuters reported [7]. Chipmakers led: Infineon rose 6.3%, ASMI 5.5%, STMicroelectronics 4% and ASML about 3%, CNBC reported, while Germany's DAX was up 0.73% in its latest European read [1].
Siemens Energy posted record fiscal fourth-quarter revenue of 12.83 billion euros, proposed a dividend of 2.30 euros a share, up from 0.70 euros, and announced buybacks of up to 9 billion euros through fiscal 2030 [1][16] (MLQ.ai on Siemens Energy). "I have no doubt that we will see more data centers in the U.S. going forward," Chief Executive Christian Bruch told CNBC [1]. Vestas fell 9.2% in early trading after missing third-quarter estimates and narrowing its 2026 revenue forecast, and RWE rose 1.4% after beating forecasts [1] (MLQ.ai on Vestas). Alcon fell about 5% after narrowing its sales growth outlook despite an earnings beat, Investing.com reported [17].
In Asia, the Nikkei 225 closed up 1.31% at 61,248.59 and the Kospi gained 2.6% to 5,375.36, with SK Hynix up 5.36% and Samsung Electronics 3.57%, according to CNBC [1]; SoftBank fell after its quarterly loss. Germany's statistics office confirmed October inflation eased to 2.8% [18].
Oil, rates, the dollar and bitcoin
Brent crude rose 1.4% to $92.8 a barrel and gold 0.4% to $4,047 an ounce, Reuters reported in a story updated at 7:54 a.m. ET [7]. Oil ticked higher after Iran's top security official, Mohsen Rezaei, said Iran "will not allow enriched uranium material to leave the country," rejecting a US ceasefire proposal to move the stockpile to a third country, Investing.com reported [8] (MLQ.ai on Iran's uranium stance).
The US cash Treasury market is closed for Veterans Day while stock exchanges are open [1]. On Tuesday, after the CPI report, the 10-year Treasury yield jumped 12 basis points to about 5.01%, FXStreet reported, and the 2-year yield rose 18 basis points, according to Reuters [7][13]. The dollar index rose 0.3% to about 102.5 on Wednesday, a four-week high [7]. Mortgage rates followed: the average 30-year fixed rate rose 12 basis points on Tuesday to 7.30%, the largest one-day jump in more than a month, according to Mortgage News Daily data cited by CNBC [10].
Traders priced about a 90% chance of a quarter-point Fed hike in December after the CPI report, per CME FedWatch, CNBC reported [1]. "The question now is more of one of the extent of the hike," wrote BlackRock's Rick Rieder, while UBS's Ulrike Hoffmann-Burchardi said FOMC support for a half-point move is "limited" and kept a base case of quarter-point hikes in December and March [1]. Goldman Sachs added another hike to its forecast overnight.
Consumers are feeling the pressure. Total retail spending rose 0.2% in October to $561.7 billion, the slowest monthly gain since November 2025, and 3.6% from a year earlier, according to the CNBC/NRF Retail Monitor released Wednesday [9]. Bitcoin sat out the stock rebound near $74,000 after dipping to $72,700 on Tuesday, as US spot bitcoin ETFs lost $95 million on Tuesday, a fourth straight day of outflows, according to SoSoValue data cited by CoinDesk [11].
US stocks have opened. Follow the open here.
How the story developed
- 9:30 a.m. ETUS stocks have opened; <a href="/news/chip-stocks-jump-4-at-the-open-as-coreweave-rallies-11-and-the-nasdaq-gains-15/">follow the open here</a>.
- 8:45 a.m. ETNasdaq 100 futures up 1.9% at 7:35 a.m. ET; CoreWeave up 15.3% at 7:50 a.m. despite Stifel target cut; Nvidia up about 5% despite Baird downgrade; Stoxx 600 near August record; Brent up 1.4% on Iran uranium comments.
- 6:00 a.m. ETNasdaq 100 futures up 1.68% at 5:18 a.m. ET; CoreWeave up 10.8%, Nvidia up 5.3% pre-market; Stoxx 600 up 0.29% as chipmakers rally.
- 4:20 a.m. ETNasdaq 100 futures up 1.5%; CoreWeave up 13.2% pre-market; Stoxx 600 opens 0.69% higher.
Companies mentioned
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