S&P 500 Rises 1.3% as CoreWeave Results Lead Tech Rebound

Key Facts

The S&P 500 rose 1.3% to 7,619.38 points in Wednesday’s session on November 11, while the Nasdaq Composite climbed 1.6% to 25,466.19 points in a rebound led by technology and artificial intelligence stocks. The Associated Press said results from cloud computing provider CoreWeave came in stronger than analysts’ expectations and helped drive the session’s gains. It added that the S&P 500 came within 2.6% of its record high set the previous month. The advance followed a U.S. inflation reading released the previous day that, according to the agency, raised expectations for interest rate increases. The index therefore remained close to its monthly high, without having returned to a new record level.

The rally extended to other major indexes, with the Dow Jones adding 254.60 points, or 0.5%, to close at 52,486.49 points. Over the trading week through the November 11 close, the S&P 500 rose 3.3% and the Nasdaq 3.6%, according to Associated Press figures. The weekly gains show that Wednesday’s session was part of a broader rebound, rather than a move separate from the previous days’ performance. In a morning update on the session, Charles Schwab said technology and artificial intelligence stocks led the early rebound after CoreWeave’s results and Nvidia’s recovery. It added that trading in U.S. bonds was closed for the holiday, limiting the availability of bond-market trading that day.

CoreWeave’s third-quarter 2026 results showed revenue of $3.661 billion, compared with $1.365 billion in the same quarter of 2025, according to the company’s filing with the U.S. Securities and Exchange Commission. The company raised its full-year revenue outlook range to $13.0–$13.3 billion. It also raised the lower end of its 2026 capital spending estimate to $37 billion from $35 billion, setting the new range at $37–$39 billion. The company said the higher spending estimate reflects its expectation of delivering infrastructure to customers ahead of schedule. The figures link the demand growth underpinning its results with substantial spending to expand the capacity needed to meet that demand.

CoreWeave’s contracted revenue backlog stood at about $132.5 billion as of September 30, 2026, according to its filing. Chief Executive Michael Intrator said about $9 billion in customer prepayments and deposits were expected in the three months following the results announcement on November 10. The company said it added more than 200 megawatts of active power during the quarter, bringing its total active capacity to more than 1.7 gigawatts and doubling its active footprint since the start of the year. At the same time, it posted a net loss of $709 million in the third quarter, up from $110 million in the same period of 2025. This places the company’s expansion and contracted revenue backlog in the context of higher quarterly losses, with its plans’ execution dependent on increased capital spending.

The stock rebound came as data from the Bureau of Labor Statistics showed the U.S. Consumer Price Index rose 0.4% month over month in October, after a 0.6% increase in September. The core index, excluding food and energy, rose 0.3% in October, the same monthly increase recorded in August and September. The food index also rose 0.5% and the energy index 0.7%, while the housing index rose 0.3%. The higher-than-expected inflation reading the previous day had raised expectations for interest rate increases, according to the Associated Press. Schwab said futures were pricing in a 15% probability of a 50-basis-point increase in December, according to the CME FedWatch tool.

The BLS explained that a lapse in appropriations prevented the collection of October 2025 survey data, so year-over-year changes for October 2026 cannot be published for some Consumer Price Index series that lack prior October data. In the market, CoreWeave shares closed at $60.77 on November 11, according to EL7 data. Schwab tracked the breadth of the stock market’s advance, noting that 69% of S&P 500 stocks were above their 50-day moving average, compared with 20% in early October. This comes as investors remain focused on the inflation path and interest rate outlook, as well as the ability of AI infrastructure companies to convert demand into revenue and actual deliveries. The BLS had scheduled the October Producer Price Index release for Friday, November 13, at 8:30 a.m. Eastern time, while the November Consumer Price Index was set for release on December 10 at 8:30 a.m. Eastern time.