US session purchasing power weakens
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AI trading rebounds; storage chip and optical communication stocks rise broadly in U.S. pre-market, CoreWeave surges 17%, oil prices stabilize.
Before the US stock market opened, CoreWeave rose about 17% as its Q3 revenue exceeded expectations and the company raised its annual revenue guidance. Storage chip stocks generally increased, with SK Hynix up about 7% and SanDisk up about 7%. Optical communication stocks also rose, with Coherent up about 9%, Credo up about 8%, and Lumentum up about 8%. Futures for all three major US stock indexes were up: Nasdaq 100 index futures rose 1.6%, S&P 500 index futures rose 0.7%, and Dow Jones index futures rose 0.2%.
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