Wall Street bounced back on Wednesday, Nov. 11, after a rough Tuesday, as strong quarterly results from AI cloud company CoreWeave pulled chip and technology stocks higher. The rally came on an unusual Veterans Day trading session: stock exchanges were open regular hours, but the U.S. bond market was closed for the federal holiday.
As of about 2 p.m. Eastern time, the S&P 500 was up about 1.6% at roughly 7,644, the tech-heavy Nasdaq Composite was up about 2.2% near 25,622, and the Dow Jones Industrial Average was up about 0.5% near 52,496, according to Yahoo Finance market data. The Russell 2000 index of smaller companies was up about 1%. Wall Street’s “fear gauge,” the VIX, fell nearly 11%. Final closing figures were not yet available when this article was written.
What drove the bounce
The spark came after Tuesday’s closing bell, when CoreWeave, which rents out computing power built on Nvidia chips to AI developers, reported third-quarter revenue of about $3.66 billion, up 168% from a year earlier and ahead of analysts’ estimates, according to the Seoul Economic Daily, citing LSEG data. The company raised its full-year revenue forecast to $13 billion to $13.3 billion and said its order backlog grew to $132.5 billion, up from $104.2 billion the quarter before.
Investors had worried about how CoreWeave would pay for its rapid expansion. Yahoo Finance reported the company expects about $9 billion in customer prepayments and deposits over the next three months and said it does not plan to take on more expensive debt through 2027. CoreWeave shares rose as much as 25% on Wednesday. Chief executive Michael Intrator said, “Demand for compute is growing faster than the capacity to deliver that infrastructure,” Yahoo Finance reported.
There is another side to the ledger. CoreWeave’s net loss widened to $709 million in the quarter, from $110 million a year earlier, and the company is targeting $37 billion to $39 billion in capital spending this year, according to the Seoul Economic Daily.
Chip stocks and Nvidia rebound
CoreWeave’s report eased fears that spending on artificial intelligence was cooling, and chipmakers led the market. Yahoo Finance reported that Sandisk, Micron and SK Hynix each gained more than 8% in morning trading, AMD and Broadcom rose more than 5%, and Taiwan Semiconductor climbed about 4%. TheStreet listed Coherent, Monolithic Power and Bloom Energy among the day’s biggest gainers by midday. Bloom Energy had reported record third-quarter revenue of $1.24 billion.
Nvidia rose nearly 5% by early afternoon, its first gain after two days of losses tied to the company’s board review of reports involving CEO Jensen Huang. Even after Wednesday’s bounce, Yahoo Finance noted the stock was still down about 14% in November. Investment firm Baird downgraded Nvidia to “neutral,” and TheStreet reported Baird cut its price target to $200, while Morgan Stanley kept a more positive rating.
Why the bond market was closed
Veterans Day is a federal holiday, and bond trading follows its own holiday calendar, while the New York Stock Exchange and Nasdaq stay open. That meant no fresh Treasury trading on Wednesday. The 10-year Treasury yield, which sets the tone for mortgage rates and other loans, was listed just under 5% from its last trade after briefly topping 5% on Tuesday, according to Yahoo Finance.
Those high yields reflect Tuesday’s hotter-than-expected October inflation report, which raised the odds that the Federal Reserve will raise interest rates again. Daniela Hathorn, a senior market analyst at Capital.com, told TheStreet that markets appear to have almost fully priced in a December rate hike.
The rebound also follows a bumpy stretch. The S&P 500 had its worst day since the April 2025 tariff shock on Nov. 5 during a sell-off in AI stocks, and the market has swung sharply since, including a 1,100-point jump in the Dow in a recent session.
Why it matters for families
Most families do not own CoreWeave shares, but many hold technology and chip stocks through 401(k) plans, IRAs and index funds, where a handful of large AI-related companies now carry heavy weight. A single strong day does not change long-term plans, and this article is general information, not investment advice; questions about your own savings are best taken to a licensed financial professional.
The bigger issue for household budgets may be interest rates. With the 10-year Treasury yield hovering near 5% and the Fed signaling more tightening may be needed, borrowing costs for mortgages, car loans and credit cards are likely to stay high for now.
What to watch next
- Bond trading resumes Thursday: Investors will see whether yields push back above 5% after the holiday break.
- More AI earnings: Cloud provider Nebius, whose shares jumped about 15% on Wednesday, reports results on Thursday, according to Yahoo Finance.
- The Fed’s December meeting: Markets are bracing for another rate increase after the hot inflation report.
- Nvidia: Analysts say uncertainty around possible U.S. government action is still weighing on the stock.
This is a developing story, and Upstormed News will follow the market’s reaction as trading continues this week.
Read more: Strong growth, hot prices, a likely rate hike: The U.S. economy for families now
Do big swings in tech stocks change how you think about your retirement savings?
Sources: Yahoo Finance, “Stock market today: Nasdaq, S&P 500, Dow rise as Nvidia stock recovers, chip stocks rally after CoreWeave earnings” (November 11, 2026); Yahoo Finance, “Nvidia stock rebounds, chip stocks surge as CoreWeave earnings boost AI trade” (November 11, 2026); TheStreet, “Stock Market Today (Nov. 11, 2026): Nasdaq, S&P 500 whipsaws higher as CoreWeave lifts AI trade” (November 11, 2026); Seoul Economic Daily, “CoreWeave Lifts Revenue Outlook as Backlog Climbs 30%” (November 11, 2026); AP via FOX19, “A brutal sell-off for AI stocks sends Wall Street reeling; S&P 500 sees worst day since 2025 ‘Liberation Day’ tariffs” (November 5, 2026)
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