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Affected by the rebound of chip stocks and investors’ adjustment to expectations of Fed interest rate cuts, the three major US stock indexes closed higher on the 11th, with AI concept stocks and CoreWave becoming the focus of the market.
Chip stocks like Nvidia rose as investors readjusted their expectations for the Federal Reserve’s interest rate policy next month.US stocks Rose on the 11th. It was Veterans Day, and US stocks were trading as usual, while the US bond market was closed for the day.
The Dow Jones Industrial Average rose 254.60 points, or 0.49%, to 52,486.49;stamp 500 The index closed 98.45 points or 1.31% higher at 7,619.38; The index focuses primarily on technology stocksNasdaq The composite index closed at 25,466.19 points, up 400.31 points or 1.6%. By the close on the 11th, it had officially recovered from its post-election defeat.
As AI unicorn Anthropic’s high-profile initial public offering (IPO) approaches, AI concept stocks are still the focus of the market. Especially after the midterm elections, US data center construction is facing an important crossroads.
Huida, once the darling of AI trading, hit a comeback after CEO Huang Jensen was embroiled in a controversy and its share price declined for two consecutive days. However, Huida’s share price is still down about 12% since November.
CoreWeave benefited from strong demand for AI computing power and announced a better-than-expected revenue outlook, sending its stock price up 24%.
News on financial reports and economic data was relatively light. Traders continued to adjust their bets on keeping interest rates high for longer after the last consumer price index (CPI) data came in higher than expected.
Oil prices bounced back, recovering some of the losses suffered earlier this week. Brent crude oil rose 1.4% to $92.76 a barrel. Since the situation in the Middle East sent oil prices soaring earlier this year, Brent crude oil has continued to fluctuate between US$72 and US$120 per barrel, and the current price is near the middle of the range.
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Mainly due to the rebound of chip stocks such as Huida, which led to the strength of technology stocks; At the same time, the market readjusted its expectations for the Federal Reserve’s interest rate policy next month, increasing overall risk appetite and the three major indexes closed higher.
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AI concept stocks are still the focus of the market, and the approach of Anthropic’s IPO has heated up the topic; CoreWeave’s share price soared 24% after announcing a better-than-expected revenue outlook, showing that demand for AI computing power is still strong.
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Huida bounced back from its previous decline, but is still down about 12% since November; Brent crude rose 1.4% to $92.76, reflecting a bounce in energy prices and still in the middle of the range.
