By William Collins, consultant in stock markets – Eurasia Business News, November 11, 2026. Article no 3255
U.S. stocks rallied Wednesday, November 11, as upbeat CoreWeave earnings restored confidence in artificial intelligence spending. The Nasdaq Composite led the advance, gaining about 2%, while the S&P 500 climbed roughly 1.5% and the Dow Jones Industrial Average added around 0.3% in afternoon trading. CoreWeave shares surged approximately 25%, lifting cloud and semiconductor stocks.
Oil prices rebounded as renewed uncertainty surrounding Iran revived supply concerns. Gold initially recovered from Tuesday’s selloff but subsequently reversed lower, with afternoon spot quotation falling below $4,000 per ounce. These figures are intraday updates, not official closing prices.
Stock Market Today: Nasdaq Leads Wall Street Higher
Technology shares powered Wednesday’s recovery, reversing the defensive mood that followed Tuesday’s hotter-than-expected inflation report. Around 12:45 p.m. Eastern Time, the Nasdaq Composite was up approximately 2.2%, the S&P 500 had gained 1.5%, and the Dow industrials were ahead 0.3%, according to a market update citing CNBC.
The gap between the indexes highlighted the rally’s concentration in technology. Investors returned to AI infrastructure companies after CoreWeave’s results eased immediate concerns about demand, financing and the sustainability of heavy capital spending. Reuters also reported gains in related businesses, including Nebius Group and Applied Digital.
Wednesday’s advance therefore represented more than a routine rebound. It showed how quickly earnings evidence could redirect attention from macroeconomic risks toward company-specific growth prospects. Nevertheless, stronger technology shares did not remove the interest rate uncertainty that had pressured markets one day earlier.
CoreWeave Earnings Reignite the AI Trade
CoreWeave became the session’s central catalyst after reporting quarterly revenue of $3.7 billion and a business backlog of $133 billion. The company’s results reassured investors watching closely for signs that AI infrastructure demand remained strong enough to support its expansion.
The company occupies an important position within the AI investment cycle. It purchases advanced Nvidia graphics processors, installs them in data centers and leases computing capacity to customers including Microsoft and OpenAI. Its performance consequently offers a window into demand beyond the chipmakers themselves.
CoreWeave’s debt-heavy business model had made it a focal point for concerns about excessive AI investment. Wednesday’s earnings reaction temporarily shifted that narrative toward customer commitments and revenue visibility. Its approximately 25% share-price jump spread optimism across other cloud and chip companies.
However, revenue and backlog are not equivalent to immediate profitability. Reuters reported that CoreWeave expects to become profitable on an adjusted basis in the first half of 2028, leaving execution and financing important considerations.
Veterans Day Closes Bond Markets, Not Stocks
U.S. Treasury markets were closed Wednesday for Veterans Day, while equity trading continued. The holiday interrupted bond trading after Tuesday’s inflation-driven selloff, when the benchmark 10-year Treasury yield briefly exceeded 5% before easing toward 4.98%.
October consumer prices had risen 0.4% month over month, above expectations for 0.3%. Core inflation, excluding food and energy, increased 0.3%, also exceeding forecasts. Those readings reinforced expectations that the Federal Reserve would maintain restrictive monetary policy.
The distinction matters for interpreting Wednesday’s rally: improving corporate sentiment did not signal that inflation concerns had disappeared. Instead, investors were weighing encouraging AI earnings against a policy environment still unfavorable to richly valued assets.
Oil Prices Today: Brent and WTI Rebound
Crude oil recovered from Tuesday’s two-month lows as traders reassessed the likelihood of further disruption involving Iran and regional shipping.
At 12:04 p.m. Eastern Time, Reuters reported:
| Oil benchmark | Intraday price | Daily gain |
|---|---|---|
| Brent crude futures | $93.64 per barrel | $2.15, or 2.35% |
| WTI crude futures | $87.73 per barrel | $1.69, or 1.96% |
These were trading quotations rather than final settlement prices.
The rebound followed Tuesday’s settlements of $91.49 for Brent and $86.04 for West Texas Intermediate. Earlier declines had reflected expectations that Washington would avoid additional military escalation with Iran, reducing some concerns about immediate supply losses.
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Wednesday brought renewed uncertainty after Iran’s security chief said enriched nuclear material would not leave the country. Continuing threats to commercial shipping also complicated expectations for de-escalation. Together, those developments restored some geopolitical premium to crude prices.
For the broader stock market, rising oil introduced a counterweight to technology optimism because renewed energy inflation could complicate the Federal Reserve’s task.
Gold Price Today According to Kitco News
Gold’s direction changed significantly during Wednesday’s session. Kitco News initially reported spot gold near $4,042.50 per ounce, up $10.70, or 0.27%, as bargain hunting and short covering supported an early recovery.
That rebound subsequently faded. Kitco’s live spot chart showed a bid price of $3,982.80 per troy ounce at 2:20 p.m. Eastern Time, down $49, or 1.22%. The quoted session range extended from $3,982.70 to $4,067.90.
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The later quotation is particularly important: describing gold simply as “higher today” would miss its afternoon reversal. It also illustrates why readers should distinguish an early Kitco News report from a later live-market update.
Kitco identified elevated yields, dollar strength and expectations for additional Fed tightening as obstacles to a sustained gold recovery. Geopolitical uncertainty offered support, but that defensive appeal competed with monetary-policy pressure.
What Investors Are Watching Next
Attention now turns to Thursday’s weekly jobless claims and Friday’s October producer price index, both scheduled for 8:30 a.m. Eastern Time. Those releases may clarify whether inflation pressure is easing or strengthening. Meanwhile, AI earnings and developments involving Iran remain immediate drivers for technology shares, crude oil and precious metals
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© Copyright 2026 – Eurasia Business News. Article no. 3255
