---
title: "Chip stocks rise on CoreWeave’s outlook, sending ship S&P 500 up 1.3%"
url: "https://etf.net/news/chip-stocks-lift-sp-500-2026-11-11"
published_at: "2026-11-11T22:15:38.488Z"
updated_at: "2026-11-11T23:26:35.088Z"
byline: "ETF.net Research"
---

# Chip stocks rise on CoreWeave’s outlook, sending ship S&P 500 up 1.3%

The cash bond market closed for Veterans Day, but rate futures traded and still priced a December Fed hike after Tuesday’s hotter-than-expected inflation report.

By ETF.net Research. Published Nov 11, 2026.

The S&P 500 rose **1.3%** to 7,619.38 on Wednesday, and the Nasdaq Composite gained **1.6%** to 25,466.19, as chip stocks rallied after CoreWeave raised its 2026 revenue forecast.

CoreWeave also said it expects about $9 billion in customer prepayments and deposits over the next three months. CoreWeave's shares and bond prices had both fallen in recent weeks on concern about its borrowing costs.

The cash Treasury market was closed, Reuters reported, after the Securities Industry and Financial Markets Association [recommended a full close](https://www.sifma.org/news/press-releases/sifma-fixed-income-market-close-recommendation-in-the-u-s-the-u-k-and-japan-for-the-u-s-veterans-day-holiday-2026) for Veterans Day.

Fed funds futures still traded. These contracts track where traders expect the Fed’s benchmark rate to be. [CME Group’s FedWatch tool](https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool) turns futures prices into odds. As of 5:40 PM Wednesday, it put the odds of a quarter-point hike at the Fed’s Dec. 9 decision at 88.4% and a half-point hike at 11.6%. Late Tuesday, the odds were 91% and 9%, CNN reported.

The Dow Jones Industrial Average also rose **0.5%** on Wednesday to 52,486. State Street Technology Select Sector SPDR ETF, XLK, gained **3.2%**. VanEck Semiconductor ETF, SMH, rose **4.8%**.

## CoreWeave and Nvidia

CoreWeave rose **24.7%** to $60.77. That is still 56% below its 52-week high of $138.25.

CoreWeave reported third-quarter revenue of $3.66 billion in a  [release filed Tuesday](https://www.sec.gov/Archives/edgar/data/1769628/000176962826000461/coreweave3q26earningspress.htm). Analysts had expected revenues of $3.55 billion, [CNBC reported](https://www.cnbc.com/2026/11/10/coreweave-crwv-q3-earnings-report-2026.html).

CoreWeave raised its 2026 revenue forecast to $13.0 billion to $13.3 billion, up from $12 billion to $13 billion. It also increased its 2026 capital spending plan to $37 billion to $39 billion, up from $35 billion to $39 billion, “as a result of our expectation to deploy infrastructure and deliver it to customers sooner than planned," the company said.

The quarter’s net loss was $709 million, against $110 million a year earlier.

Reuters said the results cooled concerns about the durability of the artificial-intelligence trade. Micron rose **11.9%**.

Nvidia rose 2.9% to $173.73 on Wednesday after falling 4.3% on Monday and 5.5% on Tuesday. Nvidia’s board has opened an independent investigation into reports that Chief Executive Jensen Huang was the target of a foreign intelligence effort, [CNBC reported](https://www.cnbc.com/2026/11/09/nvidia-jensen-huang-chinese-spy-investigation.html) , CNBC reported.

Before Wednesday’s open, Baird analyst Tristan Gerra cut Nvidia to 'neutral' and lowered his price target to $200 from $500, MarketWatch reported. Gerra wrote that he would stay neutral until an upcoming congressional hearing and U.S. government investigations are resolved, until Nvidia can measure the revenue impact and any charges, and until questions about Huang’s tenure are settled.

From the Nov. 4 close through Wednesday, Nvidia fell **13%** and finished about 20% below its 50-day average closing price. Over the same five sessions, SMH rose **0.5%**, Invesco QQQ Trust, Series 1, QQQ, fell **0.2%**, and State Street SPDR S&P 500 ETF Trust, SPY, fell **0.9%**.

Chart: **SMH** finished the five sessions up; SPY and QQQ did not

QQQ rose **2.3%** on Wednesday. Micron, 3.8% of the fund’s assets [as of Sept. 30]https://www.invesco.com/content/dam/invesco/us/en/product-documents/etf/fact-sheet/qqq-invesco-qqq-etf-fact-sheet.pdf),  added about 0.45 percentage points to that return. Nvidia, at 6.8%, added about 0.19. CoreWeave, about 0.1% of the fund, added about 0.03. Microsoft fell **2.3%** and was the largest drag on the QQQ on Wednesday, , at about 0.15 points. Amazon fell **1.7%**, and Meta fell **2.0%**.

Chart: **Micron** added 0.45 points to QQQ; Nvidia added 0.19

## Tuesday's yield jump, with no follow-through

The [Bureau of Labor Statistics](https://www.bls.gov/news.release/archives/cpi_11102026.htm) said Tuesday that consumer prices rose **0.4%** in October, after increasing by 0.6% in September. Economists surveyed by Dow Jones had expected 0.3%, [CNBC reported](https://www.cnbc.com/2026/11/10/cpi-inflation-report-october-2026.html).

Core prices, which exclude food and energy, rose **0.3%**, matching September’s pace and above the 0.2% forecast. The Bureau published no 12-month rate because the 2025 government shutdown stopped price collection in October 2025.

The two-year Treasury yield jumped **17 basis points** to 4.73% on Tuesday, and the 10-year rose 10 basis points to 4.98%. CNN reported the two-year move was the largest one-day jump since April 2025.

The Fed raised its target range for the federal funds rate, the overnight rate banks charge one another, by a quarter point to 3.75% to 4% in September and held it there on Oct. 28. Its next decision is due Dec. 9. [Lorie Logan](https://www.dallasfed.org/news/speeches/logan/2026/lkl261110), president of the Federal Reserve Bank of Dallas, said Tuesday in Houston that skipping one meeting did not change where policy is headed.

"It remains clear to me, given the current outlook, that the FOMC needs to implement at least two more 25-basis-point rate increases," she said.

[Governor Christopher Waller](https://www.federalreserve.gov/newsevents/speech/waller20261110a.htm), speaking in London before the inflation release, said he would still support a quarter-point increase at the December meeting even if October improved on September.

If core inflation came in “around 0.3 percent or even higher,” Waller said, “I believe a 50 basis point hike in the policy rate should be considered at the December meeting. Hiking only 25 basis points would put our credibility at risk, a risk I am not eager to take.” Tuesday’s core reading, 0.3%, met that condition.

Cash Treasuries could not trade any of that on Wednesday. The U.S. dollar index rose **0.7%** to 102.92 by 4:43 p.m. ET, just under its high of the past year, 102.96, and gold futures fell 0.9% to $3,992.90. Invesco DB US Dollar Index Bullish Fund, UUP, rose with the index in the regular session. State Street SPDR Gold Shares, GLD, fell 1.1%, a little more than the futures.

## What to watch for

Cash Treasuries reopen Thursday. The Labor Department reports weekly jobless claims at 8:30 a.m. ET, Nebius Group reports earnings before the open, and the Treasury auctions 30-year bonds at 1 p.m. ET. The October producer price index follows Friday at 8:30 a.m. ET.

Source: etf.net, https://etf.net/news/chip-stocks-lift-sp-500-2026-11-11. Please cite the page URL.