Morning wrap: Equity indices extend rebound. CoreWeave outlook supports Nasdaq? (11.11.2026)

• Global equity market sentiment remains positive, as renewed demand for AI-related stocks outweighs concerns about a more hawkish Fed following hotter-than-expected US inflation. Nasdaq 100 futures are up more than 1%, recovering part of Tuesday’s sell-off triggered by regulatory concerns, while S&P 500 futures are gaining 0.5%.

• Positive sentiment is also visible in Europe and Asia. European index futures point to a higher open, while the MSCI Asia Pacific is up 1.6% after its strongest two-day advance in more than three months. Asian technology stocks remain the main drivers of the rally.

• The AI narrative has been supported by CoreWeave’s optimistic outlook and rising expectations around a potential Anthropic IPO. Bankers working on the listing are reportedly considering an initial valuation of at least $1.5 trillion, highlighting the scale of investor demand for AI-related assets.

• CoreWeave shares jumped nearly 13% in overnight trading after Q3 revenue rose 168% y/y to $3.66 billion, beating expectations of around $3.55 billion. The company also raised its 2026 revenue outlook to $13.0-13.3 billion from $12.0-13.0 billion, reinforcing signs of strong demand for AI computing capacity.

• The rebound comes after CoreWeave shares had fallen more than 40% over the previous month amid concerns over debt-funded expansion, financing costs and the sustainability of AI infrastructure spending. The stronger results and guidance helped ease some of those fears.

• The sector is also being supported by reports concerning OpenAI. The company’s quarterly revenue reportedly exceeded $10 billion for the first time, reinforcing the market’s view that heavy spending on AI infrastructure and development is still translating into very rapid revenue growth among industry leaders.

• At the same time, the bond market remains under strong pressure following higher-than-expected US inflation. The yield on the 2-year US Treasury rose by as much as 17 basis points on Tuesday, marking its biggest one-day move in 19 months.

• Money markets have started pricing in a 25 bp Fed rate hike as early as next month, while some market participants are also assigning a certain probability to a larger move. This reflects a clear shift in expectations toward a more restrictive monetary policy stance.

• Oil is rebounding after two consecutive sessions of declines as investors assess the prospects for an end to the US-Iran conflict. Brent has nevertheless moved back above $92 per barrel, while an agreement between Washington and Tehran remains far from certain.

• USDIDX, the US Dollar Index futures contract, is edging lower after strengthening by around 0.5% yesterday. The FX market is currently caught between support for the dollar from rising Treasury yields and more hawkish Fed expectations, and improving risk appetite across global equity markets.

US100 (D1 interval)