Market explainer · After the open

US stocks are higher; Technology leads while Financials lag

  • S&P 500+0.9%
  • Nasdaq 100+1.9%
  • Dow-0.2%
  • Russell 2000+0.5%

Tech is rebounding on AI infrastructure strength after CoreWeave's earnings beat and raised outlook, per CNBC and Yahoo Finance.

LeadingTechnology +3.0%Energy +1.6%Industrials +0.8%
LaggingHealth Care -0.7%Consumer Staples -0.5%Consumer Discretionary -0.4%

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CoreWeave's CEO is betting new GPU capacity clears a hurdle rate north of 15%, and canceling his preset selling plan says he wants to be seen taking that bet with his own shares.

CoreWeave $CRWV CEO Michael Intrator, asked on CNBC why it isn't buying back bonds yielding ~15%, said: "I can deploy the capital at a higher rate of return." Jim Cramer pressed whether it can really earn over 16%. Intrator also said he canceled his 10b5-1 stock trading plan.
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Biggest movers · On the open
  • CRWVCoreWeave$53.85+10.5%
  • LITELumentum$639.77+9.3%
  • DOCNDigitalOcean$86.33+8.6%
  • BEBloom Energy$201.49+8.6%
  • SNDKSanDisk$931.61+8.3%
  • GPROGoPro$0.73-13.4%
  • NTESNetEase$122.5-4.3%
  • PBR-APetrobras$15.72-3.0%
  • BUDAnheuser-Busch Inbev SA$83.84-2.6%
  • KMBKimberly-Clark$107.92-2.6%

AI infrastructure names are taking the whole top of the board at the open, led by CoreWeave's 10.5% jump the morning after its Q3 earnings filing. The downside is narrow by comparison: outside GoPro's 13% drop, no loser is worse than 4.3%.

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