Stock Market Today: Nasdaq 100 Rises as AI Chip Rout Reverses, SanDisk Jumps 7%
Tech rebounded from last week's rout as chip stocks bounced and steel maker Cleveland-Cliffs soared on earnings, while the 10-year yield climbed to 5.14%.
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Oracle stock trades down near $137 key support. Discover ORCL’s technical analysis, moving averages, and premarket price action.
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Tech rebounded from last week's rout as chip stocks bounced and steel maker Cleveland-Cliffs soared on earnings, while the 10-year yield climbed to 5.14%.
Guggenheim analyst Howard Ma has initiated coverage on NetApp, Inc. (NTAP) with a hold rating.
NetApp has introduced new hybrid multi-cloud features, including enhancements to its NetApp Console and Keystone services, designed to support consistent operations across on-premises, public cloud, and AI infrastructure.
U.S. stock markets gained modestly on October 28 as the Federal Reserve held interest rates steady. The S&P 500 rose 0.28%, Nasdaq Composite gained 0.27%, and Dow Jones added 0.19%. Energy stocks led gains while real estate and utilities declined. Major movers included Vertiv Holdings (up 17% on AI infrastructure demand), Oracle (up 11% after investor day), and Wingstop (up on earnings beat), while F5 Inc. plummeted over 20% on guidance concerns. After-hours, Microsoft beat earnings expectations while Alphabet missed revenue forecasts, raising questions about AI spending sustainability.
CoreWeave (CRWV) surged 7.32% to $63.93 after bringing its Denmark AI data center capacity online, addressing supply constraints for AI infrastructure. However, the company faces significant debt challenges with over $35 billion accumulated debt and some unsecured debt yielding over 15%, raising concerns about future funding capabilities despite strong $104 billion backlog and $25 billion in new Q3 commitments.