US Stocks Rebound on Wednesday
US stocks gained on Wednesday as strong results from CoreWeave drove markets to reconsider their skepticism on the AI trade. The S&P 500 rose nearly 1% and the Nasdaq gained almost 2%, while the Dow hovered above the flatline. CoreWeave shares surged 15% after posting strong sales growth and upgrading its guidance, easing concerns over its debt levels that served as a bellwether for the cloud-computing sector. Meanwhile, reports indicated strong oversubscription for Anthropic’s IPO expected by next week, which now targets a valuation of $1.5 trillion, supporting AI companies. Nvidia, Broadcom, AMD, Intel, and Micron rose up to 7%. Other sectors were steady, with thin trading as the Veterans Day holiday had fixed-income security exchanges closed. Corporate yields surged yesterday after a hot inflation reading consolidated bets of multiple rate hikes by the Fed next year.
Story updates
US stocks gained on Wednesday as strong results from CoreWeave drove markets to reconsider their skepticism on the AI trade. The S&P 500 rose nearly 1% and the Nasdaq gained almost 2%, while the Dow hovered above the flatline. CoreWeave shares surged 15% after posting strong sales growth and upgrading its guidance, easing concerns over its debt levels that served as a bellwether for the cloud-computing sector. Meanwhile, reports indicated strong oversubscription for Anthropic’s IPO expected by next week, which now targets a valuation of $1.5 trillion, supporting AI companies.
Nvidia, Broadcom, AMD, Intel, and Micron rose up to 7%. Other sectors were steady, with thin trading as the Veterans Day holiday had fixed-income security exchanges closed. Corporate yields surged yesterday after a hot inflation reading consolidated bets of multiple rate hikes by the Fed next year.