A rally in tech giants drove stocks higher on bets the artificial-intelligence trade that has powered the bull market has more room to run.Just days after a selloff that shook Wall Street, tech staged a comeback, with the Nasdaq 100 rising 2.5% Wednesday. Nvidia Corp. jumped 4%.
“The rebound in the tech sector is something that is helping investors to be less concerned about whether the upcoming Anthropic IPO will get done or not,” said Matt Maley at Miller Tabak. “If the Anthropic IPO had been postponed, it would have raised even further questions about whether the AI bubble was bursting.”
With equities bouncing back — and the “flight to safety” trade fading — Maley says fixed-income investors could be facing some renewed volatility for a while after the recent economic data.
While cash trading in Treasuries was closed for Veterans’ Day, futures suggested a retreat is set to continue as faster-than-expected inflation data cemented wagers on more aggressive Federal Reserve hikes. The dollar hit the highest since May 2025.
Oil rose after a two-day decline, as traders weighed mixed signals on the prospects for a conclusion to the Iran war.