Post-Market Summary – Nov 11, 2026: CoreWeave Sparks an AI Rebound, S&P 500 Gains 1.3% as Chips Soar

Written about 5:00 PM ET Wednesday. All times Eastern. This post grades the calls in this morning’s Pre-Market Summary.

Closing levels

×

This was a one-theme day. CoreWeave’s results eased the fear that AI companies can’t earn enough to cover the debt behind their data centers, since management said customer prepayments will keep its borrowing in check. That sent buyers back into memory, photonics and chip names, and Nvidia (NVDA) bounced 2.9% after two straight heavy losses. The S&P 500 is now within about 2.6% of last month’s record. Breadth was solid, with 332 S&P 500 stocks up and 168 down. The VIX fell 10% to 17.49, while the dollar index climbed to its highest level in more than a year as traders keep betting on a December Fed hike. Oil edged up on hopes that a U.S.-Iran deal could reopen the Strait of Hormuz, and gold slipped back under $4,000.

Best and worst sectors

Technology (+3.23%) ran away with the day, followed by energy (+1.86%) and industrials (+1.33%). Consumer discretionary (-0.05%) finished last, with real estate and health care roughly flat, as money moved out of consumer and defensive names and into chips. Microsoft (MSFT) bucked the tech rally, falling 2.3%.

The data and what moved markets

• No major U.S. data today. The cash Treasury market was closed for Veterans Day, so there were no official yield moves and nothing on the economic calendar to measure against forecasts.
• CoreWeave’s quarter. Third-quarter revenue of $3.66 billion, up 168% from a year earlier, beat estimates of about $3.55 billion, and the company raised its full-year outlook. The stock closed at $60.77 on heavy volume.
• Memory and optical names led the AI rebound. Sandisk (SNDK) rose 13.7%, Micron (MU) 11.9% and Lumentum (LITE) 10.7%, and Nebius (NBIS) gained about 15%.
• A stronger dollar. The dollar index hit a one-year-plus high, reflecting how firmly the market now expects the Fed to raise rates in December.

Top gainers and losers (S&P 500)

Earnings so far, and after the bell

During the session: CoreWeave, which reported late Tuesday, was the day’s story. Azenta (AZTA) jumped about 22% after its fiscal fourth-quarter profit and next-year revenue outlook beat estimates. NextNav (NN), which reported Tuesday night, opened sharply higher but faded through the day.

After the close: It’s a light night with no large-cap reporters. About 40 smaller companies are scheduled, including Omeros (OMER), OptimizeRx (OPRX), 4D Molecular Therapeutics (FDMT) and Sutro Biopharma (STRO). Options were pricing in moves of roughly 17% for Omeros and OptimizeRx. In early after-hours trading, chip suppliers such as Marvell Technology (MRVL) and Credo Technology (CRDO) added about 1%.

Our watchlist

Predictions vs Reality — 7/10 hits, 0 partial, 3 misses

Graded against Nov 10 closes. Sectors are ranked by SPDR sector ETF day change. Our 10-year yield call (higher than 4.98%) can’t be graded today because the cash Treasury market was closed; it is left out of today’s tally.

We read the AI rebound well: higher stocks, a lower VIX, tech on top, and memory, uranium and Galaxy all up. We missed on ImmunityBio and SpaceX, which both lagged the rally, and on health care as the weakest sector, since consumer stocks did worse. Running scorecard: 138 hits + 3 partial across 201 graded calls = 139.5/201 (69.4%).

Look ahead — Thursday, Nov 12

The bond market reopens tomorrow and has two days of stock and dollar moves to catch up on, so the first test is whether the 10-year holds under 5%. S&P futures were near 7,643 late this afternoon. The question is whether today’s AI rally has follow-through or was mostly a short-covering bounce. Bull (30%): yields stay calm, chips keep running and the S&P pushes toward 7,700. Base (45%): a pause that holds most of today’s gain, between 7,570 and 7,670. Bear (25%): the 10-year breaks above 5% and the S&P gives back more than half of today’s rally, slipping under 7,570. Wick's pick: Base.

What to watch

• U.S. Treasury market reopens on Nov 12 after Veterans Day.
• October PPI at 8:30 AM ET on Nov 13..ics
• FOMC minutes at 2:00 PM ET on Nov 18..ics
• FOMC rate decision at 2:00 PM ET on Dec 9.

Wick's take: One strong quarter from CoreWeave was enough to wipe out the Nasdaq’s post-midterm losses, which shows how crowded the bearish bets on AI had become. But nothing changed on rates: the dollar is at a one-year-plus high on December hike bets, and the 10-year is still parked at about 5%. We’d enjoy the bounce without chasing it until the bond market reopens and Friday’s producer-price report is out.

Market data and opinions by Wick. This post is informational only and is not financial advice. Prices may differ slightly between data vendors; predictions are tracked and scored openly.