Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York City on November 10, 2026.
Angela Weiss | Afp | Getty Images
Stocks rose Wednesday, boosted by sharp gains in CoreWeave and a rebound in Nvidia following back-to-back losing sessions for the chipmaker.
The Nasdaq Composite traded 1.3% higher, while the S&P 500 advanced nearly 0.9%. The Dow Jones Industrial Average was roughly flat.
Neocloud stock CoreWeave rallied 13% after the company reported third-quarter revenue that beat analyst expectations. CoreWeave also lifted its operating income and revenue guidance for 2026.
Nvidia, meanwhile, climbed 3%, after the stock dropped nearly 10% to begin the week following CEO Jensen Huang confirming he had an affair with an alleged Chinese spy. The pullback in Nvidia weighed on the broader market Tuesday, with the major averages ending the session lower.
“The sentiment bump coming from CoreWeave results and Anthropic IPO demand is helping the broader ecosystem,” Ross Mayfield, an Investment Strategist for Baird Private Wealth Management, told CNBC. “Markets are continuing to unwind last week’s overshoot to the downside with cleaner positioning now a tailwind and an attractive near-term valuation/earnings story in a lot of the AI stocks.”
Equities also fell on Tuesday after the latest U.S. inflation data solidified expectations for a December Federal Reserve rate hike. The consumer price index increased by 0.4% month over month in October, topping expectations.
Expectations for a quarter-point rate increase next month rose to about 90% following the release, per the CME Group’s FedWatch tool.
“Despite some technical uncertainty, higher than desired levels of inflation should keep the Fed in a stance of dissatisfaction with the degree of progress on inflation remaining lackluster, so hiking the Fed Funds policy rate in December is our and the market’s base case,” wrote Rick Rieder, CIO of global fixed income at BlackRock. “The question now is more of one of the extent of the hike.”
Comments from Fed Governor Christopher Waller also led traders to price in greater chances of a quarter-point move.
The U.S. bond market is closed on Wednesday for Veterans Day.