Futures Rise As CoreWeave Calms Debt Jitters, Sparking AI Rebound; Oil Jumps On Hormuz Mines

Résumé détaillé

“It would appear overnight that the market feels a little bit more comfortable with the AI trade. Coreweave had some very good numbers, and the Korean market was reasonably strong overnight.”

US futures are higher as a trifecta of AI catalysts, i) CoreWeave's beat-and-raise, ii) reports that Anthropic's bankers are weighing an IPO valuation of $1.5 trillion or more and iii) word that OpenAI's quarterly revenue hit $10 billion for the first time, revived the battered tech trade and helped markets shrug off Tuesday's hot CPI hangover, even as oil rebounded after Iran's IRGC claimed two tankers hit mines in the Strait of Hormuz; as a result Nasdaq futures have more than recouped Tuesday's losses while cash Treasuries, closed for Veterans Day, sit just shy of 5% on the 10Y. As of 8:15 am ET, S&P futures are up 0.9% while Nasdaq 100 futures rise 1.8% and Dow futures are up 0.2%.

In premarket trading, Mag 7 stocks are mostly higher: (Nvidia (NVDA) +5.1%, Tesla (TSLA) +2%, Alphabet (GOOGL) +1.2%, Meta Platforms (META) +0.8%, Microsoft (MSFT) 0%, Amazon (AMZN) -0.1%, Apple (AAPL) -0.7%)

In other corporate news, CoreWeave staged a debt-relief victory lap, raising its annual revenue forecast and promising no additional parent-level unsecured debt through 2027 (Goldman's Gabriela Borges sees it as the start of a rerating), even as it guides to a hefty interest bill; Costco declared a $30 special dividend, its first in nearly three years, plus a buyback of up to $4 billion; Western Union terminated its pact to buy Intermex; BrightView sank after a disappointing fiscal 2027 outlook; Grocery Outlet lowered the high end of its adjusted Ebitda forecast; Akamai was cut to in-line at Evercore ISI; Alibaba's chip-design unit T-Head filed for a Hong Kong IPO; and TSMC said it plans to…

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