Market Overview - Markets rebounded positively with the Dow increasing by 381 points (+0.81%), S&P 500 gaining 103 points (+1.54%), Nasdaq rising by 522 points (+2.27%), and Russell 2000 adding 30 points (+1.27%) [1] AI and Semiconductor Sector - Nasdaq experienced its best trading day since May, driven by chipmakers and AI infrastructure, with NVIDIA's CEO meeting Taiwan Semiconductor to discuss production increases, alleviating concerns about AI infrastructure spending [2] Government and Economic Data - Washington officials are working to re-open the government, with a focus on upcoming economic data releases including CPI, PPI, Weekly Jobless Claims, and Retail Sales, which will provide insights into economic trends [3] Q3 Earnings Reports - Paramount Global and Skydance (PSKY) reported negative earnings of -$0.12 per share, missing the consensus of +$0.46, but raised full-year revenue guidance to $30 billion from $28.74 billion [4] - CoreWeave (CRWV) reported a loss of -$0.22 per share, better than the expected -$0.39, with revenues of $1.36 billion exceeding expectations of $1.28 billion [6] - Rigetti Computing (RGTI) posted a loss of -$0.03 per share, better than the expected -$0.05, but revenues fell short at $1.9 million compared to the consensus of $2.39 million [7] Upcoming Earnings - Upcoming earnings reports include AI firm Nebius (NBIS), AngloGold Ashanti (AU), Beyond Meat (BYND), Cisco Systems (CSCO), Disney (DIS), and Applied Materials (AMAT) [8][9]
Big Bounceback Trading Day for AI & Tech