Dow Jones, Nasdaq extend rebound before Nvidia sell-off as CoreWeave keeps sentiments intact

Résumé détaillé

The Dow Jones reversed losses of as much as 150 points to end with gains of 250 points and at the day's high, while the S&P 500 and the Nasdaq Composite gained 1.3% and 1.6% respectively. The gains also included a 3% rebound in shares of Nvidia, after the stock fell nearly 11% across Monday and Tuesday.

Benchmark indices on Wall Street continued their rebound on Wednesday, November 11, after results from CoreWeave kept sentiments regarding the AI trade and its infrastructure buildout intact. Nasdaq futures fell after Nvidia resumed its sell-off in extended trading after multiple damning reports surrounding Jensen Huang.

The Dow Jones reversed losses of as much as 150 points to end with gains of 250 points and at the day's high, while the S&P 500 and the Nasdaq Composite gained 1.3% and 1.6% respectively. The gains also included a 3% rebound in shares of Nvidia, after the stock fell nearly 11% across Monday and Tuesday, after the Jensen Huang scandal came to light. The stock is down 8.5% in extended trading.

CoreWeave shares jumped 24% in regular trading on Wednesday after its third quarter results showed revenue growth of 168%, and the company also raised its full year guidance, while sharing some very bullish commentary for the road ahead.

The stock was among the most damaged during the AI sell-off as investors questioned the durability of the company's debt after questions were raised on the survival of the theme in itself after democrats swept the midterm polls.

"Our asset level debt has basically been rock solid through this entire thing," Intrator told CNBC. "There is an enormous demand for that product. We’re about to launch another asset-level debt in the next week or two that has already been rated high investment grade."

Following CoreWeave's results, shares of fellow neoclouds such as Nebius Group, Applied Digital and Iren jumped between 5% to as high as 15%.

Elsewhere, crude oil prices staged a minor rebound after having slipped below $90 a barrel earlier in the week after Iran warned that any US attack will result in a wider retaliation at its bases, and that Iran will not remove "a single atom" of enriched nuclear material from the country.

Analysts have also warned that Iran's hesitation in conceding to the US demands on their nuclear program could test the…

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