AI stocks rebound as CoreWeave soars; Nasdaq jumps 1.6%
AI stocks rebounded Wednesday. The Nasdaq composite rose 1.6% to 25,466, about 400 points, the S&P 500 rose 1.3% to 7,619 and the Dow rose 0.5% to 52,486. CoreWeave shares jumped about 24% after the company reported better-than-expected third-quarter revenue of $3.66 billion. The bond market was closed for Veterans Day.
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Why it matters
Retirement and index funds that track the S&P 500 or Nasdaq gained Wednesday as AI-related stocks recovered. The U.S. bond market was closed for the Veterans Day holiday.
Sources
- Kiplinger: Nasdaq adds 400 points as CoreWeave earnings revive the AI trade
- Yahoo Finance: Stock market today, Nov. 11
- AP News Summary, Nov. 11
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