Wall Street rises as tech shares lead rebound, Nasdaq gains as Nvidia jumps 5%

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Wall Street rebounded on Wednesday as technology stocks led gains, with Nvidia jumping 5% and CoreWeave rallying 13% after strong quarterly results and an upbeat revenue outlook.

Wall Street moved higher on Wednesday, with technology shares leading the recovery as Nvidia rebounded after two consecutive sessions of losses and CoreWeave rallied on better-than-expected quarterly results.

The Nasdaq Composite gained 1.6%, while the S&P 500 advanced nearly 1%. The Dow Jones Industrial Average was up 45 points, or 0.1%, shortly after the opening bell.

CoreWeave shares surged 13% after the cloud computing company reported third-quarter revenue above analyst expectations. The company also raised its operating income and revenue guidance for 2026, boosting investor sentiment towards the stock.

Nvidia climbed 5%, recovering some of its recent losses after falling nearly 10% at the start of the week. The chipmaker's shares had come under pressure following reports concerning CEO Jensen Huang and allegations of an affair with an alleged Chinese spy. The decline in Nvidia had weighed on the broader market on Tuesday, with all three major US indices ending the session lower.

Investor sentiment has also been shaped by fresh inflation data, which reinforced expectations of a Federal Reserve rate hike in December. The US Consumer Price Index (CPI) rose 0.4% month on month in October, exceeding market expectations.

Following the release, the probability of a 25-basis-point rate increase next month climbed to around 90%, according to the CME Group's FedWatch tool.

BlackRock's Chief Investment Officer of Global Fixed Income, Rick Rieder, said higher-than-desired inflation levels could keep the Federal Reserve dissatisfied with the pace of progress on bringing inflation under control.

"Despite some technical uncertainty, higher than desired levels of inflation should keep the Fed in a stance of dissatisfaction with the degree of progress on inflation remaining lacklustre, so hiking the Fed Funds policy rate in December is our and the market's base case," Rieder said, according to CNBC.

Comments from Federal Reserve Governor Christopher Waller also contributed to…

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