Nasdaq Surges as CoreWeave and Tech Rebound Drive U.S. Markets
U.S. stocks advanced on Wednesday following a sharp rebound in the technology sector, led by strong gains from CoreWeave and a recovery in Nvidia. The broader market rebound helped offset losses from earlier in the week, which had been pressured by inflation concerns and Federal Reserve rate expectations.
The Nasdaq Composite jumped 1.60% to close at 25,466.19, while the S&P 500 advanced 1.31% to finish at 7,619.38. The Dow Jones Industrial Average added 254.60 points, or 0.49%, ending the session at 52,486.49. Market sentiment received a strong boost from neocloud stock CoreWeave, which rallied nearly 25% after reporting third-quarter revenue that surpassed analyst estimates and raising its full-year guidance for 2026. Nvidia also climbed 2.9%, rebounding from an early-week pullback that followed CEO Jensen Huang confirming an affair with an alleged Chinese spy.
Additional momentum came from artificial intelligence developments, including Anthropic's updated SEC filing outlining plans for an upcoming initial public offering. Analysts noted that cleaner market positioning and positive earnings reports across the artificial intelligence ecosystem helped propel equities higher after cooler heads prevailed following Tuesday's hotter-than-expected October inflation data.
