US100 loses 0.5%🚩

Futures on the Nasdaq 100 index (US100) are down about 0.5%, roughly 30 minutes before the start of the U.S. trading session. Investor sentiment has slightly weakened, despite progress on reopening the U.S. government. The main factor behind the decline appears to be a negative market reaction to CoreWeave’s (CRWV.US) earnings report — the company is one of the key suppliers of GPU infrastructure for data centers used by major tech giants, including Nvidia.

• CoreWeave, once a significant Ethereum miner, has completely transformed its business model to capitalize on the artificial intelligence boom. The company now leases graphics processors and cooperates with major players such as Meta Platforms and OpenAI.
• The latest NFIB index publication from the U.S. came in slightly below expectations. Sentiment among small American businesses — which account for nearly half of the U.S. workforce — weakened in October. The US NFIB Business Optimism Index stood at 98.20 points, compared with the forecast of 98.3 and the previous reading of 98.80. However, the scale of the negative surprise remains relatively minor.

In the coming weeks, delayed U.S. macroeconomic data will be closely watched. If the releases turn out to be particularly weak, investors could overreact to recession fears. On the other hand, the overall picture of the U.S. earnings season remains solid, and the Federal Reserve could still opt for an interest rate cut in December. If the U.S. government reopening process is finalized in the coming days, a renewed rally on Wall Street remains possible.

CoreWeave under pressure – stock down 8%

CoreWeave shares are dropping in premarket trading after the company cut its annual revenue forecast due to delays in launching a key data center, despite strong demand for its AI services.

• The firm is struggling with rising infrastructure costs, higher GPU prices, and increasing competition for computing power, all of which are weighing on profitability. According to the company, the issues stemmed from cooperation with one of its major data center partners; however, the client agreed to extend the contract, keeping its total value unchanged.
• Barclays analysts noted that the results revealed operational risks in the AI infrastructure sector, reminding investors that building large-scale data centers is a highly complex engineering challenge.
• Since its IPO in March 2025, CoreWeave’s stock has surged more than 150%, but in the third quarter, its operating margin fell from 21% to 16%. Revenue reached $1.36 billion, above analysts’ expectations of $1.29 billion, though weaker profitability may become an issue once AI demand begins to cool.

Additional risk factors include the short lifecycle of GPU chips, the cyclicality of the industry, and the potential for write-downs on GPU assets. Despite the stock trading about 30% below its highs, CoreWeave’s market capitalization still stands at around $52 billion. The disappointing report has dampened sentiment across the broader AI infrastructure sector, with investors showing less conviction in the sustainability of its rapid growth.

Source: xStation5

US100 Technical Analysis 

H1 timeframe: The index pulled back after reaching the 25,700-point area. The contract is now hovering around the EMA50, which serves as a key intraday support level. The 25,700-point zone remains a strong resistance level from a price action perspective.

D1 timeframe: The index has defended short-term support near 25,200 points (EMA50, orange line). The RSI indicator remains neutral, around 53 points.

Source: xStation5