Nasdaq futures surge as CoreWeave results revive AI stocks despite Fed concerns

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Nasdaq futures surge

Highlights

Nasdaq-100 futures surged 1.96% to 28,381.
CoreWeave jumped 13%, while Nvidia rebounded about 5%.
Strong U.S. inflation reinforced expectations of a December Fed rate hike.

Nasdaq-100 futures climbed 1.96% to 28,381.75, while S&P 500 futures rose 0.94% to 7,615.00. Dow Jones futures advanced 0.25% to 52,444.00, according to the latest market readings. The rebound followed Tuesday's broad market decline, when technology shares came under renewed selling pressure amid concerns about monetary policy and Nvidia, as reported by CNBC.

CoreWeave earnings lift Nasdaq and global technology stocks

CoreWeave shares surged approximately 13% in premarket trading after the AI cloud infrastructure provider reported third-quarter revenue above analysts' expectations and raised its 2026 forecasts for revenue and operating income. The results helped restore investor confidence in companies supplying computing power for artificial intelligence, a sector that has faced growing scrutiny over valuations and spending. Nvidia also rebounded about 5% after losing nearly 10% during the first two sessions of the week, providing additional support for Nasdaq futures and semiconductor stocks.

The recovery extended across international markets. South Korea's Kospi closed 2.45% higher, with memory chipmakers SK Hynix gaining 5.36% and Samsung Electronics advancing 3.57%. Japan's Nikkei 225 also traded higher, while European semiconductor companies recorded substantial gains. Infineon rose 6.3%, ASMI added 5.5%, STMicroelectronics climbed 4%, and ASML gained approximately 3%, reflecting renewed demand for technology shares beyond the U.S. market.

Federal Reserve rate expectations remain a challenge

Despite the technology rally, investors continued to assess the implications of stronger U.S. inflation. October consumer prices increased 0.4% from the previous month, exceeding forecasts and reinforcing expectations that the Federal Reserve will raise interest rates in December. According to CME Group's FedWatch tool, traders assigned approximately a 90% probability to a quarter-point increase, while comments from Fed Governor Christopher Waller added to expectations of tighter monetary policy.

The divergence between recovering technology stocks and rising interest rate expectations remains important for the Nasdaq, where valuations are particularly sensitive to borrowing costs and future earnings growth. CoreWeave's improved outlook has strengthened confidence in AI infrastructure demand, but sustained gains will depend on whether corporate results can offset the pressure from tighter financial conditions. The U.S. bond market was closed Wednesday for Veterans Day, limiting Treasury market activity during the rebound.

We have previously highlighted that gold prices rebound above $4,050 as traders weigh U.S. inflation.

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