Markets
Wall Street Closes Higher as an AI Rebound Lifts the Nasdaq 1.6% and Leaves the S&P 500 Within 2.6% of Its Record
Image: AhmadArdity via Pixabay
The S&P 500 gained 1.3% on Wednesday as CoreWeave and chip stocks led, while the bond market was closed for Veterans Day.
By Emma Cruz ·
U.S. stocks closed higher on Wednesday, Nov. 11, as a rebound in artificial intelligence stocks pulled the market back toward where it stood before last week's selloff, The Associated Press reported [1]. The S&P 500 rose 98.45 points, or about 1.3%, to 7,619.38, which leaves it within 2.6% of the record high it set last month [1].
The Dow Jones Industrial Average gained 254.60 points, about 0.5%, to 52,486.49, while the Nasdaq Composite climbed 400.31 points, or 1.6%, to 25,466.19, the strongest advance of the three major indexes [1]. Yahoo Finance reported that the Nasdaq's gain erased its losses since the election [2]. TheStreet's closing tally showed the small-cap Russell 2000 up 0.88% at 2,846.26 [3].
Technology and chip shares did most of the lifting. CoreWeave jumped 24.7% after reporting a smaller-than-expected loss and raising its revenue forecast, Micron Technology gained 11.9% and Broadcom rose 4%, the AP said [1]. Fossil Group rose 26.7% after a stronger-than-expected quarterly profit and a higher revenue outlook [1]. Among decliners, United Airlines fell 1.8%, D.R. Horton lost 1.5% and PulteGroup slipped 0.8% [1].
Oil edged higher. Brent crude rose 1.4% to $92.76 a barrel, and the AP noted it has traded between $72 and $120 since the war with Iran began early this year [1]. Yahoo Finance said the December crude oil contract settled at $86.41, up 0.43% [2]. TheStreet reported that the secretary of Iran's Supreme National Security Council vowed on Wednesday to keep enriched nuclear material inside the country, which it said casts doubt on diplomacy [3].
The Treasury market did not trade. The U.S. bond market was closed Wednesday in observance of Veterans Day, so there were no new closing yields to reflect the equity rally [1]. Yahoo Finance reported that the 10-year Treasury yield briefly rose above 5% on Tuesday after hotter-than-expected consumer price data, and that traders have raised their bets on Federal Reserve rate hikes [4]. Daniela Hathorn, a senior market analyst at Capital.com, said a December hike "now appears almost fully priced in," with markets assigning about an 11% chance to a larger half-point move [3].
Fed officials have kept that message in view. Governor Michelle Bowman said there is "still work to do to bring inflation closer to 2%," according to Yahoo Finance [4]. Bank of America's head of U.S. equity and quantitative strategy, Savita Subramanian, said the firm is not particularly bullish on the index and flagged the risk of outflows from the S&P 500 [4].
For Thursday, Nebius is due to report earnings before the opening bell, a test of whether the AI infrastructure rally extends beyond CoreWeave [2]. Investors will also watch how Treasury yields behave when bond trading resumes after the holiday, given how close the 10-year has come to 5% [4]. Anthropic's initial public offering, reportedly aiming for a valuation of up to $1.4 trillion, could begin trading as soon as next week, Yahoo Finance said, which may keep attention on how much capital the AI trade can absorb [2]. Wednesday's session leaves the S&P 500 a modest distance from its high, but the combination of hotter inflation, a likely December rate increase and elevated oil prices remains the backdrop against which each rally is being measured.
Sources:
[1] The Associated Press (via WPTF), "AI stocks rebound, and Wall Street nearly returns to where it was before last week's sell-off", November 11, 2026. https://www.wptf.com/2026/11/11/19156/
[2] Yahoo Finance, "Stock market today: Dow, S&P 500, Nasdaq rise as chip stock rally rekindles AI trade", November 11, 2026. https://finance.yahoo.com/markets/live/stock-market-today-wednesday-november-11-dow-sp-500-nasdaq-nvidia-treasurys-veterans-day-140638547.html
[3] TheStreet, "Stock Market Today (Nov. 11, 2026): Nasdaq, S&P 500 gain after CoreWeave earnings beat; Apple hits new record", November 11, 2026. https://www.thestreet.com/stock-market-today/stock-market-today-dow-jones-sp-500-nasdaq-updates-nov-11-2026
[4] Yahoo Finance, "Stock market today: S&P 500, Nasdaq rise as Nvidia stock recovers, chip stocks rally after CoreWeave earnings", November 11, 2026. https://ca.finance.yahoo.com/news/live/stock-market-today-wednesday-november-11-dow-sp-500-nasdaq-nvidia-treasurys-veterans-day-140638547.html
This article was produced with AI assistance. It is for informational purposes only and is not financial advice. StockVolt and its authors may hold positions in securities mentioned.