Wednesday, November 11, 2026 · 8:15 AM ET · Shahryar Rahmani, MTC Desk
CoreWeave lifts the chips this morning. The AI cloud company raised its 2026 revenue outlook to $13.0–$13.3 billion, and chip stocks are bouncing hard: Nasdaq 100 futures were up about 1.6% to 1.9% early Wednesday (as of about 4:30 AM ET), while Dow futures were only about 0.1% to 0.2% higher. It’s Veterans Day, so stocks trade but the bond market is closed.
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Morning, I’m Shah, your host, and this is MTC Radio, premarket edition.
Okay, so the chips are flying this morning, and it’s basically all about CoreWeave. They reported last night, revenue came in at almost three point seven billion dollars for the quarter, and they raised their outlook for the whole year to somewhere between thirteen and thirteen point three billion. The stock is up about seventeen percent as of about a quarter to eight.
Now, why does that matter for everyone else? Because CoreWeave rents out computing power built largely on Nvidia’s chips. So when they say demand is still there, the whole group reacts. Nvidia is up about five percent after two rough days tied to the board’s investigation around Jensen Huang. Micron, AMD and Applied Materials are up about six, seven percent. Nasdaq futures are up somewhere around one point six to one point nine percent, but the Dow is barely green. So this is really a tech move, not the whole market.
And don’t forget yesterday. The inflation number came in hot, and the market is now pricing a Fed hike in December as close to a done deal. The ten year finished just under five percent. Today is Veterans Day, so stocks are open, but the bond market is closed. No economic data, no Fed speakers. So the chip trade is driving everything today.
As for Spy, it’s trading around seven fifty seven, just above the seven fifty two to seven fifty five zone. That’s Monday’s high and close. If we pull back into it and buyers defend it, okay, that tells us the gap has some strength behind it. Above us, the seven sixty two to seven sixty six zone is where last week’s selloff started, so we’ll see how price reacts up there.
Q Q Q is sitting right at the six eighty eight to six ninety two zone. Technically, a gap straight into a zone like this, I want to see a reaction first. If it rejects and starts pushing lower, well, the six eighty to six eighty two area is the gap fill. However, if it holds above six ninety two after the first fifteen, thirty minutes, this might be real strength. I’m not chasing the open either way.
Tomorrow we get jobless claims, the thirty year bond auction, and Cisco and Applied Materials after the close. Then the producer price numbers on Friday.
So yeah, that’s what I’m watching. If you want to trade it with us, we’re live Monday, Tuesday, Thursday and Friday in the community. See you there.
CoreWeave (CRWV) was up about 17% at 7:43 AM ET (Nasdaq.com). Third-quarter revenue came in at $3.66 billion, about 2.7 times a year earlier, and the company raised its full-year revenue and adjusted operating income outlook (company release). Investing.com says the report eased some worries about demand for AI infrastructure after recent selling in AI stocks.
That pulled the whole chip group up. Nvidia was up about 4.5% to 5%, bouncing after two days of losses tied to its board’s investigation of allegations about CEO Jensen Huang. Micron, AMD and Applied Materials were up about 6% to 7% (Nasdaq.com; Investing.com). The full story of Tuesday is in our Tuesday close recap.
The backdrop hasn’t changed. Tuesday’s October CPI rose 0.4% against 0.3% expected, and the 2-year yield jumped 17 basis points to 4.73% (BLS; Treasury). A December Fed hike is close to fully priced. Daily updates live on our stock market today hub.
Market Snapshot: Tech Leads, Dow Lags
| Market | Move | Note |
|---|---|---|
| S&P 500 futures | about +0.7% to +0.9% | 4:30 AM ET (Stocktwits; NEXUS); CoinCentral |
| Nasdaq 100 futures | about +1.6% to +1.9% | Chips lead |
| Dow futures | about +0.1% to +0.2% | Barely higher |
| Russell 2000 (IWM) | about +0.8% | IWM at 7:42 AM ET (Nasdaq.com) |
| SPY premarket | 756.95 (about +0.9%) | 7:42 AM ET; Tuesday close 750.02 |
| QQQ premarket | 688.31 (about +2.0%) | 7:42 AM ET; Tuesday close 674.76 |
Top Premarket Stories
Moves are premarket, as of about 7:43 AM ET (Nasdaq.com).
CoreWeave (CRWV), about +17%. Third-quarter revenue rose to $3.66 billion from $1.37 billion a year earlier, adjusted operating income was $379 million, and the revenue backlog stood at about $132.5 billion. CoreWeave raised its 2026 revenue outlook to $13.0–$13.3 billion and adjusted operating income to $1.275–$1.375 billion, up 26% at the midpoint (company release). Investing.com put 2026 revenue consensus at about $12.9 billion.
Nvidia (NVDA), about +4.5% to +5%. A bounce after it fell 5.5% on Tuesday amid its board’s investigation of allegations about CEO Jensen Huang (Nasdaq.com; Investing.com; CoinCentral).
Marvell (MRVL), about +9%. Part of the chip rally. Micron (MU) about +7%, Intel (INTC) about +6.5%, AMD about +6%, Taiwan Semiconductor (TSM) about +5% and Broadcom (AVGO) about +4% (Nasdaq.com; Investing.com).
Applied Materials (AMAT), about +6%. Rising with the group ahead of its report on Thursday after the close.
GoPro (GPRO), about −9%. It delayed its third-quarter report to finish accounting work on financing deals and warned its planned merger could be at risk (Stocktwits).
Sectors
This is a tech-led morning. The chip ETF SMH was up about 4.9% at 7:43 AM ET while the Dow barely moved. Overseas, Taiwan’s Taiex closed up about 6.2% and South Korea’s Kospi about 2.6%, and European chip names like Infineon and ASML rose (NEXUS; CoinCentral).
Rates and Commodities
| Asset | Early Wednesday | One line |
|---|---|---|
| 10-year yield | 4.98% (Tuesday) | Bond market closed today (Treasury) |
| WTI crude | about $86.5–$86.9 | Bouncing off two-month lows (Stocktwits; NEXUS) |
| Gold | about $4,057 | NEXUS, 4:30 AM ET |
| Bitcoin | about $73,500 | NEXUS; CoinCentral |
| VIX | about 18.8 | NEXUS, 4:30 AM ET |
Economic Data Today
| Time (ET) | Release | Consensus | Prior | Actual |
|---|---|---|---|---|
| — | No US economic reports (Veterans Day) | — | — | — |
With no data (Kiplinger) and no Fed speakers today (NEXUS), the Fed sits in the background. Traders see about a 90% to 100% chance of at least a quarter-point hike in December and about 10% to 15% for a half point (CME FedWatch via CoinCentral; NEXUS, about 4:40 AM ET). Thursday brings jobless claims at 8:30 AM, the 30-year auction at 1:00 PM and six Fed speakers; Friday brings October PPI at 8:30 AM. Our guide to using premarket data shows how we prep a morning like this.
Earnings
Before the open: CGI and RUM Group. After the close: Franco-Nevada, Corteva and Tetra Tech (calendar per CappNotes and Stocktwits). Thursday after the close: Cisco and Applied Materials.
What to Watch Next
SPY was about 757, just above its lower Zone, 752–755.5 (Monday’s high and close, Tuesday’s high). We’d want to see whether a pullback into it holds after the open. The upper Zone is 762.5–766, where last week’s break started; how price reacts there matters more than the gap itself.
QQQ was about 688.3, right at its upper Zone, 688–692 (the November 3–4 area). The lower Zone, 679.5–682.5, is the gap-fill area. A gap straight into a Zone needs a reaction first: either rejection there or a hold above it after the first 15 to 30 minutes. Last Friday’s premarket brief shows how the last chip bounce set up.
Risks: a gap that fades, the Nvidia governance story, and the bond market reopening Thursday after Tuesday’s jump in yields. No alignment, no trade.
FAQ
Chip stocks are rallying after CoreWeave raised its 2026 revenue outlook to $13.0 billion to $13.3 billion. Nasdaq 100 futures were up about 1.6% to 1.9% early Wednesday (Stocktwits; NEXUS; CoinCentral), while Dow futures were up only about 0.1% to 0.2%.
Yes. US stock markets are open on Wednesday, November 11, 2026, but the bond market is closed, so Treasury yields do not update until Thursday. There are no US economic reports scheduled today (Kiplinger; NEXUS).
CoreWeave was up about 17% at 7:43 AM ET after third-quarter revenue of $3.66 billion, about 2.7 times a year earlier, and a raised 2026 outlook for revenue ($13.0 billion to $13.3 billion) and adjusted operating income ($1.275 billion to $1.375 billion), per its earnings release.
On SPY, 762.5 to 766 is the upper Zone and 752 to 755.5 the lower Zone; SPY was about 757 at 7:42 AM ET. On QQQ, 688 to 692 is the upper Zone and 679.5 to 682.5 the lower Zone; QQQ was about 688.3, right at the upper Zone. These are places to watch for a reaction, not entries.
Sources: Nasdaq.com premarket quotes (7:41–7:44 AM ET); CoreWeave Q3 2026 earnings release (SEC); Investing.com; Stocktwits (futures at 4:30 AM ET); CoinCentral; NEXUS morning note (about 4:40 AM ET); Kiplinger; BLS; U.S. Treasury. Featured image: AI scene built around the CoreWeave logo (Wikimedia Commons, public domain). Premarket moves are approximate and change before the open.
Education only. Not financial advice.
