- Tech is leading a premarket rebound: the Nasdaq proxy is up about 1.8% and the S&P proxy about 0.9%, while the Dow proxy barely moves.
- CoreWeave is up about 13% after beating estimates and raising its forecast, and Nvidia is up about 5% despite deepening scrutiny of its CEO.
- There are no economic releases today for Veterans Day; Franco-Nevada and Corteva report after the close, and jobless claims land Thursday at 8:30 AM ET.
Key numbers
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Wednesday, November 11 is Veterans Day, and the calendar has no economic releases, so the morning belongs to one report. CoreWeave, the AI cloud provider, topped analyst estimates after Tuesday's close and raised its annual forecast, which several major news accounts have reported, and the bid has spread across chip stocks.
Setup into the open
Tuesday closed Choppy after a hot October CPI, with the S&P proxy down about 0.4% and the Nasdaq proxy about 0.7%. As of about 6:18 AM ET, the S&P proxy is +0.85%, the Nasdaq proxy +1.84%, small caps +0.70% and the Dow proxy +0.09%. The chip ETF is +4.86%, AMD +6.29% and Nvidia +4.95%. Long Treasuries are −0.10% after Tuesday's drop of about 1.3%, the vol proxy is −2.22%, crude +0.49% and gold +0.62%. Bitcoin is near $74,000, about +0.5% since midnight.
What to watch
After Tuesday's close, CoreWeave is up about 12.9% premarket against a calendar estimate of a −$1.17 loss a share and an implied move of about 15.3%. Alcon is down about 4.9% and Petrobras about 2.3% after their reports.
This morning, CGI reports with an estimate of $1.64 a share and an implied move of about 5.7%. After the close, Franco-Nevada reports with $1.77 and about 4.8%, and Corteva with $0.09 and about 8.7%. Weekly jobless claims follow Thursday at 8:30 AM ET.
What X is saying
Posts say CoreWeave's revenue was about $3.66 billion, up 168% from a year ago, with its full-year outlook lifted to $13.0 to $13.3 billion. Accounts note the bond market is closed for the holiday while stocks trade. Wires report a Republican senator has called on Nvidia's CEO to step down, so the rebound comes with the probe still open.
Insight
This is a relief bounce built on one customer's numbers. CoreWeave's raise answers the worry that AI spending is slowing, which hit chips on Tuesday, but it does nothing for the rate side: CPI ran hot and long bonds have no cash session today to reprice. A rally led this narrowly by chips can fade fast if the Nvidia headlines worsen.
Desk stance
The mood stays Choppy from Tuesday's close because one report doesn't settle hike fears. It would lift to Pumping at the 9:45 AM ET refresh if the Nasdaq proxy holds a gain above about 1.5% with the vol proxy lower, and slip back if chips give up half their premarket gain.
- HeatingThe AI spending boomCoreWeave is up about 12.9% and the chip ETF about 4.9% premarket after CoreWeave raised its annual forecast, a day after the story cooled.
- SteadyHike bets weigh on long bondsLong Treasuries are down about 0.1% premarket after Tuesday's drop of about 1.3%, with the bond market closed for Veterans Day.
SOURCES ›
- Economic calendar 2026-11-11: no high- or medium-impact releases (Veterans Day); next: weekly jobless claims Thu 2026-11-12 8:30 AM ET, no forecast listed
- Earnings premarket 2026-11-11: GIB (EPS est 1.64, implied ~5.7%)
- Earnings afterhours 2026-11-11: FNV (EPS est 1.77, implied ~4.8%), CTVA (0.09, ~8.7%)
- Earnings afterhours 2026-11-10: CRWV (EPS est −1.17, implied ~15.3%), ALC, PBR
- Premarket quotes as of about 6:18 AM ET vs Nov 10 close: SPY 756.32 (+0.85%, 6:16 AM ET), QQQ 687.25 (+1.84%), IWM 282.54 (+0.70%), DIA 522.20 (+0.09%, 6:13 AM ET), SMH 507.15 (+4.86%), TLT 80.80 (−0.10%, 6:14 AM ET), VXX 18.51 (−2.22%, 6:01 AM ET), USO 142.15 (+0.49%), GLD 371.64 (+0.62%), NVDA 177.25 (+4.95%), AMD 547.62 (+6.29%), CRWV 55.00 (+12.87%), ALC 70.47 (−4.85%), PBR 17.86 (−2.30%, 5:58 AM ET); UUP no premarket trade (Tue close 29.15)
- BTC mark about $74,010 at 6:19 AM ET (+0.51% vs ET midnight open 73,634)
- Tuesday Nov 10 closing mood Choppy and closes (S&P proxy −0.36%, Nasdaq proxy −0.67%, long Treasuries −1.31%, Nvidia −5.53%) from recap-2026-11-10 and data/market/hero.json
- @business — “AI computing provider CoreWeave topped analysts’ estimates with quarterly results and boosted its annual forecast, easing investor concerns about the debt-laden business suffering a slowdown.”
- @CNBC — “CoreWeave stock pops 16% after outlook raise eases AI slowdown concerns”
- @Reuters — “Stocks rally as CoreWeave soothes, bonds reel on rate hike fears”
- @1769_alex — “$CRWV beat and raised after the bell. Revenue $3.66B, +168%, full-year lifted to $13.0-13.3B”
- @GorillaMartinii — “stocks are open today. bonds aren't.”
- @Reuters — “Republican US Senator Kevin Cramer from the Senate Banking Committee has called on Jensen Huang to step down as Nvidia CEO”
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