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Daily check-in · 2026-11-11

Today on Closelooknet

Wednesday, November 11, 2026. Everything fresh from the ecosystem on one page.

The Midday 10 Wed, Nov 11, 2026 ~60 seconds 11:30 ET

Chips lead a narrow but strong rally. The chip index SOX is up 6.5% at 10,644.74 after CoreWeave beat on revenue and raised its outlook on Tuesday night. CoreWeave itself soars 23.5%, Dell 12.8% and Micron 12.7%. The S&P 500 gains 1.2% to 7,609.97 and the Nasdaq 1.8%.

With that the S&P 500 stands above its close of 30 October, the last one before the sell-off, and above its election-day close. The rally is concentrated: the Dow is flat, the equal-weight S&P 500 fund rises 0.4%, and health care, staples and homebuilders fall. Microsoft loses 2.4% for a second day. The US bond market is closed for Veterans Day, so the 10-year yield, which closed at 4.98% on Tuesday, is not being tested today.

US midday, quotes as of 11:23 ET

  1. The indices — S&P 500 up 1.2% and above its pre-sell-off close
  2. Chips — index up 6.5%, memory leads: Sandisk 15%, Micron 13%
  3. CoreWeave — up 24% after raising its outlook; Nebius 17%, Oracle 9%
  4. Servers, optics and power — Dell up 13%, Lumentum 14%, GE Vernova 3%
  5. Nvidia — up 3.8%, less than every other large chip stock
  6. Microsoft — down 2.4% for a second day after Anthropic’s spreadsheet launch
  7. ETF board — technology up 3.7%, health care and staples fall
  8. Dollar — yen near 160, euro at a two-week low; bonds closed
  9. Earnings record — four Tuesday closes over the paid line
  10. Thursday — bonds reopen, jobless claims, Cisco and Applied Materials

The ten lines

  1. 1

    LEVEL The indices — S&P 500 up 1.2% and above its pre-sell-off close

    SPYQQQDIAIWMRSP

    The S&P 500 rises 1.2% to 7,609.97 and the Nasdaq Composite 1.8% to 25,518.09; the Nasdaq-100 gains 2.5%. The Dow is flat at 52,247.43, and the Russell 2000 of smaller companies is up 0.8% at 2,842.96. The VIX, Wall Street’s fear gauge, falls from 19.46 to 17.79. The S&P 500 is now 0.4% above its close of 30 October (7,580.07), the last before the sell-off, and 0.5% above its election-day close; the Nasdaq-100 is back at its 30 October level. The S&P 500 fund SPY at 758.68 is still under its 50-day average of 765.00. The Russell 2000 fund IWM at 282.90 is back above its own, 281.58.

  2. 2

    UP Chips — index up 6.5%, memory leads: Sandisk 15%, Micron 13%

    SOXXSMHMUSNDKSTXARMMRVLAMD

    The chip index SOX gains 6.5% to 10,644.74 and the chip fund SOXX 6.7% to 156.40. Memory and storage, last week’s weakest group, lead: Sandisk rises 15.5%, Micron 12.7% to 817.51, Seagate 11.6% and Western Digital 8.9%. Arm gains 11.8%, Marvell 11.0%, Intel 8.5%, AMD 7.0% to 551.12 and Broadcom 6.3%; the equipment makers Lam Research and Applied Materials rise about 7%. Micron’s move is tied to CoreWeave, a large buyer of its memory chips (Investing.com). The chip index has 97% of the loss of the week to 6 November back and is 0.4% under its close of 30 October. SOXX is still 9.5% under its 50-day average of 172.73.

  3. Rubin 100 Our 100-name AI build-out index — masked headline, 37 sub-indices from architects to interconnects. Open Rubin 100 →
  4. 3

    UP CoreWeave — up 24% after raising its outlook; Nebius 17%, Oracle 9%

    CRWVNBISORCLIREN

    CoreWeave soars 23.5% to 60.19 from Tuesday’s close of 48.73. It reported third-quarter revenue of $3.66 billion, up about 168% from a year ago and above its own guidance, an order backlog of $132.5 billion against $104 billion at the end of June, and a higher revenue outlook for 2026 of $13.0–13.3 billion (CNBC, company). Nebius, which is listed to report on Thursday (vendor calendar), gains 16.6% to 156.29, Oracle 9.0% to 128.63 and IREN 8.3%. CoreWeave is still 19% under its 50-day average of 74.13.

Full Midday 10 →

The Morning 10 Wed, Nov 11, 2026 ~90 seconds 16:35 CET

Chip Stocks Jump in Asia; Nasdaq Futures Up 2% on CoreWeave

Chips — Taiwan Jumps 3.6%, SK Hynix 5.4% and Nasdaq Futures 2% Despite a Fed Hike and the Nvidia Case

Update, 15:30 UTC, one hour into US trading: the S&P 500 is up 0.9% at 7,587.05 and the Nasdaq Composite 1.3%; the chip index SOX gains 4.9%. Micron is up 10.7%, CoreWeave 21.0%, Broadcom 5.4%, AMD 4.9% and Nvidia 3.1%. The edition below was written before the open, with prices as of about 12:55 UTC.

Chip stocks rose across Asia and Europe on Wednesday, and US futures point to a strong open, one day after a hot inflation report pushed Wall Street lower. Taiwan's TAIEX gained 3.6% and closed at its high, Korea's Kospi 2.6% and Japan's Nikkei 1.3%. Nasdaq 100 futures are up 2.0% and S&P 500 futures 0.9%.

The trigger is CoreWeave. The AI cloud company reported revenue of $3.66 billion, above its own guidance, and raised its outlook for the year (CNBC); its shares are up 15% before the open. That answers Tuesday's worry, when SoftBank's loss on power equipment raised doubts about data-center orders.

Two things have not changed. Markets still price a Fed rate hike in December as all but certain, with a chance of 11% to 15% that it is half a point. And Nvidia's board is still reviewing its chief executive; the stock is up 4% before the open after losing 9.5% in two days.

  1. Chips in Asia — Taiwan +3.6% at its high, Kospi +2.6%, Nikkei +1.3%
  2. Asia's AI Bellwethers — TSMC +4.8% and above its October close, SK Hynix +5.4%
  3. Europe — Infineon +8.3%, Siemens Energy +9.8% on record revenue, ASML +3.4%
  4. Wall Street on Tuesday — S&P 500 −0.4%, Nasdaq −0.7%, well off the lows
  5. CoreWeave — revenue up 168%, outlook raised, shares +15% before the open
  6. Nvidia — up 4% before the open after two days and −9.5%
  7. Rates — a December hike is all but certain; the 10-year yield closed at 4.98%
  8. Dollar, Gold, Oil, Bitcoin — the dollar rises again, gold steadies after −2.7%
  9. AI Indices — Rubin 100 rose 1.5% on Tuesday while US chips fell; 47% of last week's loss is back
  10. Today and This Week — bond holiday, four earnings-record grades, Cisco on Thursday

  1. Chips in Asia — Taiwan +3.6% at its high, Kospi +2.6%, Nikkei +1.3%

    Structure
    What
    Taiwan's TAIEX rose 3.62% to 44,257.15 and closed at the high of the day. Korea's Kospi opened 0.6% lower, turned and closed up 2.60% at 5,375.36. Japan's Nikkei gained 1.31% to 61,248.59. Markets with little chip exposure did not join: Hong Kong's Hang Seng fell 1.0% and Shanghai rose 0.5%; India's Nifty gained 0.8%.
    If
    US chip stocks give back their pre-market gains after the open. Asia would then have run ahead of New York.
    Why
    Asia trades the AI hardware names before New York opens. It rose although Wall Street had closed lower on Tuesday, because CoreWeave's results came after the US close (point 5).
    Then
    Of the loss of the week to 6 November Taiwan now has 83% back, Japan 65% and Korea 47%. Taiwan is 2.1% under its close of 30 October, Japan 3.2% and Korea 6.2%.

  2. Asia's AI Bellwethers — TSMC +4.8% and above its October close, SK Hynix +5.4%

    Structure
    What
    TSMC rose 4.81% to NT$2,395, the high of the day; its October revenue came in far above a year earlier (AP). SK Hynix closed up 5.36% at 1,277,000 won after a range of −1.6% to +6.4%, and Samsung Electronics gained 3.57%. In Tokyo Advantest rose 5.89%, Kioxia 5.55% and Tokyo Electron 2.95%. SoftBank, which had jumped 13.9% on Tuesday, opened 7.2% lower, fell as much as 10.5% and closed down only 0.44% at ¥3,855. Hon Hai was flat (+0.2%).
    If
    Memory keeps lagging. SK Hynix and Samsung still stand 9.9% and 8.4% under their closes of 30 October; without them the rebound stays a TSMC story.
    Why
    TSMC is the first of the large AI names to trade above its level from before the sell-off: it is 1.1% over its close of 30 October. SoftBank's swing shows how the market read its loss on power equipment: sold at the open, bought back within the day.
    Then
    SK Hynix has 51% of its loss of last week back and Samsung 48%; TSMC has all of it.
  3. The Print Record Beat histories against how the stock actually traded — one earnings name per day, all season. Open the Print Record →

  4. Europe — Infineon +8.3%, Siemens Energy +9.8% on record revenue, ASML +3.4%

    Structure
    What
    At about 12:40 UTC the Euro Stoxx 50 was up 0.7% and the DAX 0.75%. Infineon gained 8.3% to €53.13 on the day after its results. Siemens Energy rose 9.8% to €131.56: it reported record quarterly revenue and net income of €1.36 billion against €1.25 billion expected (CNBC). ASML was up 3.4%, ASM International 7.1% and BESI 5.7%. The power and cable names followed: Prysmian +4.0%, Nexans +3.4%, Schneider Electric +3.0% and ABB +2.8%. SAP slipped 0.5%.
    If
    Siemens Energy falls back under Tuesday's close of €119.84. It lost 3.4% that day with GE Vernova after SoftBank's loss; a return there would say the worry about power orders is back.
    Why
    Two European suppliers of power for data centers reported within 24 hours: Infineon forecast more than 20% growth, Siemens Energy beat. That speaks against reading SoftBank's loss as the start of a wider cut in orders.
    Then
    GE Vernova is up 5.8% and Vertiv 5.9% before the US open.

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