# CoreWeave's raised outlook lifts chip stocks before a quiet Veterans Day open Canonical URL: https://mrkts.gg/desk/morning-2026-11-11 Last updated: Nov 11, 2026, 6:20 AM ET Morning brief · Published Nov 11, 2026, 6:20 AM ET > Chip stocks are rebounding hard after CoreWeave beat estimates and raised its annual forecast, with the chip ETF up about 4.9% and the Nasdaq proxy about 1.8% premarket. Today's calendar is empty for Veterans Day, so the next scheduled test is weekly jobless claims Thursday at 8:30 AM ET. ## In short - 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 - SPY PRE: +0.85% (6:16 AM ET vs Tue close) - QQQ PRE: +1.84% (6:18 AM ET · tech leads) - SMH PRE: +4.86% (6:18 AM ET · chips rebound) - CRWV PRE: +12.87% (6:18 AM ET · after its report) - NVDA PRE: +4.95% (6:18 AM ET · after −5.5% Tue) - VXX PRE: −2.22% (6:01 AM ET · vol eases) - TLT PRE: −0.10% (6:14 AM ET · after −1.3% Tue) - JOBLESS CLAIMS: Thu 8:30 AM (No releases today) 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. ## Scenarios - If If the chip rebound holds through the first hour…: Big tech drags the S&P proxy to a solid gain on a holiday-thin tape. - If If chips fade but stay green…: The index gains shrink to a slow, narrow drift. - If If new Nvidia headlines hit the tape…: The AI names swing hard while the rest of the market waits. - If If the rebound reverses below Tuesday's close…: Hike fears and AI doubts return together and the vol proxy jumps. --- Get the Desk's daily market feature by email: https://mrkts.gg/newsletter?ref=ai&src=desk-morning-2026-11-11 AI-assisted commentary. Not investment advice.