(Sharecast News) - Wall Street trading got off to a mixed start on Wednesday as neocloud giant CoreWeave traded higher on the back of its solid third-quarter earnings report and shares in chipmaker Nvidia bounced.
As of 1500 GMT, the Dow Jones Industrial Average was down 0.17% at 52,142.89, while the S&P 500 advanced 0.83% to 7,583.14 and the Nasdaq Composite came out of the gate 1.22% firmer at 25,372.72.
The Dow opened 89.00 points lower on Wednesday, extending losses recorded in the previous session as expectations for a quarter-point rate increase from the Federal Reserve at its next policy meeting rose to roughly 90% after a hotter-than-expected US inflation print increased by 0.4% month-on-month in October.
Cloud infrastructure technology firm CoreWeave surged 16.93% at the open after topping Wall Street expectations with its latest quarterly revenues overnight, fuelled by solid demand for its cloud services. CoreWeave posted revenues of $3.66bn, up from $1.37bn twelve months earlier and ahead of estimates of $3.55bn. It also hiked its full-year revenue forecast to between $13bn and $13.3bn, up from $12.4bn to $13.2bn.
Elsewhere, Nvidia rose 2.52% in early action after the stock dropped almost 10% to in back-to-back losing sessions after chief executive Jensen Huang confirmed he had an affair with an alleged Chinese spy
On the macro front, US mortgage applications rose by 6.2% in the week ended 6 November, according to the Mortgage Bankers Association, marking the sharpest weekly increase since June. Last week's increase helped trim the sharp decline in mortgage applications since the start of September, with a pullback in oil prices and a pivot to Treasury securities drove benchmark mortgage rates lower. Applications to refinance a mortgage, which are typically more sensitive to week-to-week interest rate changes, rose by 4.5%, while applications for a mortgage to purchase a new home rose by 7.5%.
No major corporate earnings were slated for release on Wednesday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Intel Corp. (INTC) $61.31 5.10%
Cisco Systems Inc. (CSCO) $100.32 3.84%
Dow Chemical Co. (DOW) $32.10 1.84%
Caterpillar Inc. (CAT) $593.76 1.52%
Goldman Sachs Group Inc. (GS) $918.10 0.86%
Salesforce.Com Inc. (CRM) $214.10 0.72%
Chevron Corp. (CVX) $211.09 0.12%
Apple Inc. (AAPL) $352.39 0.07%
Dowdupont Inc. (DWDP) $0.00 0.00%
Walmart Inc. (WMT) $0.00 0.00%
Dow Jones - Fallers
Microsoft Corp. (MSFT) $532.64 -1.67%
Home Depot Inc. (HD) $346.19 -1.39%
Nike Inc. (NKE) $38.31 -1.27%
Johnson & Johnson (JNJ) $277.61 -1.24%
McDonald's Corp. (MCD) $278.53 -1.19%
Procter & Gamble Co. (PG) $166.57 -1.17%
Merck & Co. Inc. (MRK) $146.36 -1.15%
Visa Inc. (V) $419.47 -0.91%
Travelers Company Inc. (TRV) $396.50 -0.87%
American Express Co. (AXP) $321.11 -0.76%
S&P 500 - Risers
Seagate Technology Plc (STX) $538.62 10.49%
Broadcom Inc. (AVGO) $351.24 10.15%
Charter Communications Inc. (CHTR) $132.77 9.44%
Akamai Technologies Inc. (AKAM) $85.43 8.12%
Micron Technology Inc. (MU) $772.81 8.08%
Western Digital Corp. (WDC) $304.35 7.33%
Fortinet Inc. (FTNT) $127.46 6.34%
Corning Inc. (GLW) $118.69 6.18%
KLA-Tencor Corp. (KLAC) $158.09 5.98%
Texas Instruments Inc (TXN) $309.51 5.91%
S&P 500 - Fallers
Coterra Energy Inc. (CTRA) $32.56 -8.62%
H&R Block Inc. (HRB) $49.25 -3.87%
Booking Holdings Inc. (BKNG) $158.64 -3.55%
Equity Residential (EQR) $63.66 -3.50%
Invesco Ltd. (IVZ) $28.13 -3.08%
Under Armour, Inc. (UA) $4.86 -3.04%
Expedia Group Inc. (EXPE) $251.91 -2.84%
American Airlines Group (AAL) $13.95 -2.79%
Whirlpool Corp. (WHR) $29.61 -2.54%
ConAgra Brands Inc (CAG) $14.83 -2.37%
Nasdaq 100 - Risers
Seagate Technology Plc (STX) $538.62 10.49%
Broadcom Inc. (AVGO) $351.24 10.15%
Charter Communications Inc. (CHTR) $132.77 9.44%
Micron Technology Inc. (MU) $772.81 8.08%
Western Digital Corp. (WDC) $304.35 7.33%
KLA-Tencor Corp. (KLAC) $158.09 5.98%
Texas Instruments Inc (TXN) $309.51 5.91%
Lam Research Corp. (LRCX) $232.40 5.61%
Applied Materials Inc. (AMAT) $387.38 5.23%
Intel Corp. (INTC) $61.31 5.10%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
NetEase Inc. Ads (NTES) $123.39 -5.04%
Booking Holdings Inc. (BKNG) $158.64 -3.55%
Expedia Group Inc. (EXPE) $251.91 -2.84%
American Airlines Group (AAL) $13.95 -2.79%
Mercadolibre Inc. (MELI) $1,483.57 -2.39%
Vodafone Group Plc ADS (VOD) $15.34 -2.29%
Trip.com Group Limited (TCOM) $43.53 -2.24%
JD.com, Inc. (JD) $27.94 -2.02%
Intuitive Surgical Inc. (ISRG) $449.62 -1.79%
83.88 (0.78%)
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