Market Summary - November 11, 2026
Equity Indices Extend Rebound
The global equity market sentiment remains positive as renewed demand for AI-related stocks outweighs concerns regarding a more hawkish Federal Reserve following unexpectedly high US inflation rates. The Nasdaq 100 futures have risen over 1%, recovering part of the previous day's sell-off driven by regulatory concerns, while S&P 500 futures have gained 0.5%.
Positive Sentiment Across Markets
Positive sentiment is also evident in European and Asian markets. European index futures indicate a higher opening, and the MSCI Asia Pacific index has increased by 1.6%, marking its strongest two-day advance in over three months, primarily driven by Asian technology stocks.
CoreWeave's Impact on AI Stocks
The AI narrative has been bolstered by CoreWeave's optimistic outlook and rising expectations surrounding a potential IPO for Anthropic. Reports suggest that bankers are considering an initial valuation of at least $1.5 trillion for the listing, reflecting significant investor demand for AI-related assets.
CoreWeave shares surged nearly 13% in overnight trading after reporting a 168% year-over-year increase in Q3 revenue to $3.66 billion, surpassing expectations of approximately $3.55 billion. The company also raised its 2026 revenue outlook to between $13.0 billion and $13.3 billion, up from a previous estimate of $12.0 billion to $13.0 billion, indicating strong demand for AI computing capacity.
This rebound follows a more than 40% decline in CoreWeave shares over the past month due to concerns about debt-funded expansion, financing costs, and the sustainability of AI infrastructure spending. The stronger-than-expected results and guidance have alleviated some of these concerns.
OpenAI's Revenue Growth
Additionally, reports indicate that OpenAI's quarterly revenue has exceeded $10 billion for the first time, reinforcing the market's perception that substantial investments in AI infrastructure and development are yielding rapid revenue growth among industry leaders.
Bond Market and Fed Rate Expectations
Meanwhile, the bond market is under significant pressure due to 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 largest one-day increase in 19 months. Money markets are now pricing in a 25 basis point rate hike by the Federal Reserve as early as next month, with some participants considering the possibility of a larger increase, indicating a shift towards a more restrictive monetary policy stance.
Oil Market Update
Oil prices are rebounding after two consecutive days of declines as investors evaluate the prospects for a resolution to the US-Iran conflict. Brent crude has moved back above $92 per barrel, although an agreement between Washington and Tehran remains uncertain.
Currency Market Dynamics
The US Dollar Index futures are slightly lower after a 0.5% increase the previous day. The foreign exchange market is currently balancing support for the dollar from rising Treasury yields and hawkish Fed expectations against improving risk appetite in global equity markets.
Technical Analysis of Nasdaq 100
The Nasdaq 100 futures have exhibited a V-shaped rebound, similar to previous sharp corrections since 2025. For the third time since 2025, the index fell below the 200-session exponential moving average (EMA200) and is now on track to break back above this critical average near 28,600 points. The EMA200 serves as a significant resistance level, while the key support zone remains between 26,600 and 27,000 points. However, a continuation of the bull market from current levels is not guaranteed, as the index has yet to fully recover from last Thursday's sell-off.