The Nasdaq Composite index recovered its post-election losses on November 11, rising by approximately 1.8–2.2% to reach nearly 25,500. The rally occurred during a thin trading session as the bond market remained closed for Veterans Day, leading to a squeeze on short sellers.
The surge was primarily driven by CoreWeave, a neocloud provider, whose shares jumped 20–26% following strong quarterly results. The company also issued a revenue forecast for 2026 in the range of $13–13.3 billion, signaling continued demand for AI computing capacity.
The positive sentiment extended to the semiconductor sector, with the Philadelphia Semiconductor Index rising by approximately 7–8%. Companies including Micron, Broadcom, Intel, and Nvidia recorded gains, while major cloud providers like Microsoft and Alphabet lagged behind.
This market movement follows a significant decline on November 5, when the Nasdaq fell 5.52% to 24,315. That drop marked the index's steepest one-day decline since April 2025 and left it more than 10% below the record high established on October 6.
