U.S. stocks closed higher on Veterans Day, with the Nasdaq Composite leading a broad advance as renewed enthusiasm for artificial intelligence infrastructure helped offset concerns about inflation and the Federal Reserve’s next interest rate decision. The Nasdaq gained 1.60%, the S&P 500 rose 1.31%, and the Dow Jones Industrial Average added 0.49%. Small-cap stocks joined the rally, lifting the Russell 2000 by 0.88%. Wednesday’s session unfolded against the backdrop of the nation’s observance honoring military veterans. U.S. stock exchanges remained open, while the Treasury market observed the holiday, creating an important distinction between the day’s equity performance and the bond-market readings displayed on trading screens. CoreWeave (CRWV) helped set the tone after stronger quarterly results and an improved outlook revived confidence in AI computing demand. Nvidia (NVDA) participated in the technology rebound, while Bloom Energy (BE) benefited as attention extended from computing hardware to the electricity needed to power data centers.

Veterans Day Stock Market Close: Nasdaq and S&P 500 Lead

The major U.S. stock indexes finished Wednesday, November 11, with gains across large-cap technology, blue-chip companies and small-cap shares. The Nasdaq’s advance outpaced the Dow, showing that the strongest buying remained concentrated in the technology-heavy portion of the market.

The Cboe Volatility Index, commonly called the VIX, fell 1.92 points to 17.54, a decline of 9.85%. That retreat accompanied gains in all four equity benchmarks, although the performance gap between the Nasdaq and Dow showed that Wednesday’s strength was not evenly distributed.

Why the Veterans Day Trading Schedule Matters

Veterans Day created a split trading calendar: equities traded, but the cash Treasury market was closed. As a result, a displayed Treasury yield should not automatically be interpreted as a new bond-market move occurring alongside Wednesday’s stock rally. This distinction is particularly relevant for technology shares. Wednesday’s equity gains reflected renewed confidence in corporate growth prospects, even as the broader market continued to assess inflation and the possibility of tighter monetary policy.

CoreWeave Earnings Restore Confidence in AI Infrastructure

CoreWeave (CRWV) supplied one of the session’s most important corporate catalysts. The specialized cloud provider reported stronger-than-expected quarterly results and raised its full-year outlook, helping ease concerns about the durability of AI infrastructure spending. Third-quarter revenue increased 168% from a year earlier to $3.7 billion. The company lifted its full-year revenue forecast to between $13 billion and $13.3 billion and projected adjusted operating income of $1.275 billion to $1.375 billion. The financing discussion was especially important. CoreWeave (CRWV) highlighted approximately $9 billion in customer prepayments and deposits, alongside financing supported by customer contracts. Those arrangements offered greater visibility into how the company plans to fund its expansion. For many, that addressed a central concern surrounding the AI buildout: strong demand does not automatically solve the challenge of paying for equipment, facilities and power before the resulting revenue is collected. Wednesday’s report strengthened the demand case while providing additional information about the funding behind it. The distinction remains important. Rapid growth and a stronger outlook do not eliminate borrowing costs, construction requirements or execution risk. They do, however, give the market more concrete operating evidence to evaluate than enthusiasm about AI alone.

Nvidia Rebounds as Attention Returns to Computing Demand

Nvidia (NVDA) joined Wednesday’s recovery as CoreWeave’s (CRWV) results reinforced expectations for continued spending on AI computing infrastructure. The rebound followed weakness in the chipmaker and broader concerns about inflation that had pressured the preceding session. Separate reporting about CEO Jensen Huang’s personal conduct and related governance questions remained a company-specific issue. Those matters should be distinguished from operating performance, and allegations should not be presented as established findings. The broader market connection was clearer: stronger demand for specialized cloud capacity supported sentiment toward the companies supplying the underlying computing technology. Still, future equipment demand depends not only on customer interest, but also on financing and the ability to bring new capacity into service.

Macroeconomic Report: Inflation Complicates the Fed Outlook

The latest Consumer Price Index report remained a significant counterweight to Wednesday’s optimism. Consumer prices increased 0.4% in October on a seasonally adjusted basis, following a 0.6% increase in September. Core CPI, which excludes food and energy, rose 0.3% for a third consecutive month. Several essential spending categories contributed to the increase:

• Shelter prices rose 0.3%, accounting for more than 30% of the monthly headline increase.
• Food prices increased 0.5%, including a 0.4% rise in grocery prices.
• Energy prices advanced 0.7%, following a larger increase in September.

The release also requires care when discussing annual inflation. Missing October 2025 survey data prevented publication of standard 12-month changes for many CPI series. Monthly changes therefore provide a more appropriate basis for describing this report than an unsupported annual headline comparison. Market commentary following the release pointed to increased expectations for a December Federal Reserve rate increase. Those expectations reflect market pricing, not a policy commitment, and remain subject to subsequent economic reports and Federal Reserve communications.

Productivity Provides a More Encouraging Offset

The economic picture was not uniformly negative. Preliminary third-quarter data showed nonfarm business productivity rising at a 3.6% annualized rate, while unit labor costs declined at a 0.7% annualized rate. Output increased 3.7%, compared with a 0.1% increase in hours worked. That combination suggests businesses produced substantially more with only a small increase in labor hours. It provides a constructive counterpoint to consumer price pressure, although unit labor costs remained 2.4% higher than a year earlier. The October employment report also pointed to continued expansion. Payrolls increased by 165,000, while the unemployment rate remained near 4.1%. Together, the labor and productivity reports describe an economy still growing, but one whose inflation performance continues to complicate monetary policy.

Tariffs Keep Business Costs in the Spotlight

Trade policy added another layer to the macroeconomic discussion. Canada’s ambassador to the United States warned Wednesday that tariffs were increasing costs and discouraging business expansion, underscoring the uncertainty facing companies making long-term spending decisions. The concern extends beyond the direct price of imported goods. Businesses considering new facilities, research projects or cross-border supply arrangements must also assess whether trade rules will remain stable enough to support those commitments. That uncertainty adds to the challenge of planning expansion in an already demanding financing environment.

Bloom Energy Connects the AI Rally to Electricity Demand

Bloom Energy (BE) benefited as the AI infrastructure rally spread into power-related shares. CoreWeave’s (CRWV) earnings helped renew attention to the electricity requirements associated with expanding data center capacity. Bloom Energy (BE) reported third-quarter revenue of $1.24 billion, up 138% from a year earlier, and raised its 2026 revenue outlook to between $4.4 billion and $4.6 billion. However, operating cash flow was negative $27.1 million, while capital expenditures totaled $153.5 million. Those figures capture both sides of the opportunity. Revenue growth demonstrates expanding demand, but delivering that growth requires spending. For many following the AI power theme, cash generation, project execution and customer payment timing remain essential measures alongside sales growth.

Costco Adds a Shareholder-Return Story

Costco Wholesale (COST) provided a separate corporate headline with a reported $30-per-share special cash dividend and a reauthorized $4 billion share repurchase program. The announcement brought capital returns into a session otherwise dominated by AI and interest rates. The distinction between a special dividend and a recurring dividend matters. A one-time distribution should not be treated as a permanent increase in annual dividend income. The supplied account also contains conflicting expiration dates for the repurchase authorization, so no expiration date is included here.

Anthropic IPO Discussion Raises the Valuation Question

Anthropic’s proposed initial public offering added another dimension to the AI debate. The supplied reporting described a proposed share-price range of $70 to $78 and a potential fully diluted valuation of approximately $1.4 trillion at the upper end. These were proposed offering terms, not a completed transaction or an established public-market trading price. The underlying issue is the difference between a promising business and an attractive purchase price. Historical IPO research discussed in the supplied material associated higher initial sales multiples with weaker average subsequent performance. That pattern does not determine the outcome of an individual offering, but it provides a useful counterweight to first-day enthusiasm.. Anthropic is discussed as a prospective listing. No unverified trading ticker is assigned.

Bitcoin, Oil and Gold: Additional Market Readings

What the Veterans Day Rally Means for the Market Outlook

Wednesday’s Veterans Day session showed that stronger corporate results can still lift stocks even when the macroeconomic backdrop remains unsettled. The Nasdaq led, small caps participated, and the VIX declined as confidence improved across the equity market. The next test is whether AI-related revenue growth produces durable cash generation while companies manage funding requirements and higher financing costs. CoreWeave (CRWV) offered a more encouraging demand and financing update, while Bloom Energy (BE) illustrated both the growth opportunity and the spending required to support it. Inflation, tariffs and the Federal Reserve’s next decision remain important constraints. Improving productivity provides an offset, but Wednesday’s rally did not settle those questions. It showed that, on a holiday marked by an open stock market and a closed Treasury market, stronger company-level evidence was enough to bring buyers back to equities.

Updates From the VP Watchlist

Amwell® (NYSE: AMWL)

Amwell® (NYSE: AMWL), a leading provider of technology-enabled care, closed at $12.31, +2.41%. Amwell reported after the close Nov. 3 the company’s Third Quarter 2026 Highlights: Recorded Total Revenue of $49.0 million, exceeding the previously provided financial guidance range for Q3, Achieved subscription revenue of $23.9 million, Recorded Amwell Medical Group (“AMG”) visit revenue of $23.7 million, Reported gross margin of 53%, Net loss was ($11.0) million, compared to ($9.6) million in the second quarter of 2026, Adjusted EBITDA of ($3.6) million compared to ($1.2) million in the second quarter of 2026, & Total visits on the platform were 0.8 million.

Financial Outlook: The Company is raising its 2026 revenue outlook, and adjusted EBITDA outlook, and reaffirming its AMG visit guidance., Revenue in the range of $204 million to $206 million increased from $200 million to $205 million
AMG visits between 1.32 million and 1.37 million Adjusted EBITDA in the range between ($8) million to ($7) million increased from ($9) million to ($7) million.

The Company also provided financial guidance for Q4 2026 Revenue and adjusted EBITDA:

• Q4 revenue in the range of $48 million to $50 million
• Q4 adjusted EBITDA expected to in the range of $0 million to $1 million.

The Company also reiterated its objective to achieve positive cash flow from operations in the fourth quarter of 2026.

Serina Therapeutics (NYSE: SER)

Serina Theraeuptics (NYSE: SER, $1.50, +4.90%) is a clinical-stage biotechnology company developing a pipeline of wholly owned drug product candidates to treat neurological diseases and other indications. Serina’s POZ PlatformTM provides the potential to improve the integrated efficacy and safety profile of multiple modalities including small molecules, RNA-based therapeutics and antibody-based drug conjugates (ADCs). Serina is headquartered in Huntsville, Alabama on the campus of the HudsonAlpha Institute of Biotechnology.

On Thursday, September 24, 2026, Serina CEO Steve Ledger discussed discuss Serina’s programs’ progress during Tribe Public’s “A New Approach to Advanced Parkinson’s Disease: Serina Discusses SER-252’s Clinical Progress”webinar, followed by a live Q&A. You may view it below.

SER announced (Sept. 9) that the independent Safety Monitoring Committee (SMC) has completed its blinded review of Cohort 1 of the ongoing Phase 1b registrational study of SER-252 in patients with advanced Parkinson’s disease and recommended that the study advance to Cohort 2. Cohort 1 evaluated the lowest dose level in the single-ascending-dose portion of the study. In addition to supporting continued dose escalation, blinded Cohort 1 observations showed a pharmacokinetic profile consistent with the sustained apomorphine exposure SER-252 is designed to provide and included sustained periods of improvement in motor function in individual patients on exploratory clinical measures.

Eupraxia Pharmaceuticals Inc. (EPRX)

Eupraxia Pharmaceuticals Inc. (EPRX, $8.06, +5.64%), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology designed to optimize local, controlled drug delivery for applications with significant unmet need, today, ( Nov. 10), announced its financial results for the third quarter of 2026. Dr. James A. Helliwell, Chief Executive Officer of Eupraxia stated, “We remain on track to report interim results from the Phase 2b portion of the RESOLVE trial in December, and were pleased to announce in mid-October that we had reached our target enrollment of 120 patients. We are very encouraged by the Phase 1b/2a data from the open-label portion of the RESOLVE trial that was reported this quarter, which includes 36- and 52-week data from our highest dosing cohorts. We believe this data provides further evidence of the observed durable treatment effects of EP-104GI in EoE patients, seen in previous cohorts. In total, we have observed 64% of patients remaining in clinical remission over this 52-week period in addition to clinically meaningful histologic improvements. With cash runway into the second half of 2028, we believe we remain well funded to execute on our upcoming milestones for our EoE program.”

EPRX gained a significant new Wall Street endorsement Monday as RBC Capital Markets initiated coverage with an Outperform rating, a Speculative Risk designation and a $14 price target. The research makes a bullish case for EP-104GI, the company’s investigational treatment for eosinophilic esophagitis, ahead of an expected December clinical readout. Against the $6.89 reference price in RBC’s report, the target implies approximately 103% upside, not a forecast of where shares must trade. The attraction is unusually straightforward for biotechnology: take a familiar anti-inflammatory medicine, deliver it precisely into diseased tissue and attempt to make its benefits last long enough to change the treatment routine. If that approach succeeds, Eupraxia would offer more than another prescription for a chronic disease. It could offer a different calendar. RBC analyst Douglas Miehm’s November 9 initiation argues that EP-104GI could occupy a differentiated position in eosinophilic esophagitis, commonly called EoE, through localized delivery and the potential for once-yearly administration. The next major test is whether encouraging early results translate into convincing evidence against a vehicle control in the Phase 2b RESOLVE study.

EPRX announced (Oct. 15) that the ongoing RESOLVE study evaluating the safety and efficacy of EP-104GI for the treatment of Eosinophilic Esophagitis (“EoE”) has reached its enrollment target. “This is a significant milestone for the RESOLVE trial and the development of EP-104GI as a potential treatment option in EoE” said Dr. James Helliwell, Chief Executive Officer of Eupraxia. “We look forward to our interim analysis in December where we will be reporting on symptoms, histologic findings and safety in the first 60 patients in Phase 2b to reach 6 months. Data will also be available on the patients at 3, 9- and 12-month timepoints giving a fulsome interim look at the RESOLVE Trial”.

Modular Medical, Inc. (NASDAQ: MODD)

Modular Medical, Inc. (NASDAQ: MODD, $1.70, +1.80%), a commercial-stage medical device company preparing for the full commercial launch of its next-generation Pivot™ tubeless patch pump, is pursuing a different proposition: make insulin delivery less demanding for the people who must manage it every day. New patient research announced November 9 gives that strategy a persuasive commercial foundation. In a three-phase study conducted with Thrivable involving more than 540 people with Type 1 or Type 2 diabetes, approximately nine out of 10 surveyed multiple daily injection users said they would consider a simpler insulin delivery option. In the final-phase survey of 303 participants, 48.5% expressed strong interest in the company’s Pivot tubeless patch pump. The distinction matters. General enthusiasm for something easier is not the same as product-specific interest, and neither is a prescription. Still, the findings suggest Modular Medical is addressing a recognizable problem rather than inventing one for the benefit of a presentation deck. For many following MODD, the emerging opportunity centers on one word: simplicity. The company has already moved beyond the purely developmental stage. Its annual report documents U.S. Food and Drug Administration clearance for Pivot in April 2026, followed by commercial availability and initial patient shipments in June. The question now is whether a differentiated product, improving access and more focused patient education can turn that regulatory foundation into a repeatable commercial business.

MODD announced (Oct. 27) that it has received a positive decision from its notified body regarding certification of its quality management system under ISO 13485:2016. The notified body is designated under the European Union Medical Device Regulation (“MDR”).

MODD CEO, Jeb Besser, co-hosted a Tribe Public’s CEO Presentation and Q&A Webinar Event titled “The Road To Revenue: Modular Medical’s Strategy For Launching Pivot,” that was held Friday, September 4, 2026.. You may watch the event video below now if you missed it below now.

Nvidia (NVDA, $173.73, +2.92%)

NVIDIA Corp. (NASDAQ: NVDA), remains a cornerstone of the AI-chip investment story, supported by robust data-center demand, hefty profitability, and growing supply-chain commitments. Attention now turns to its November 17 earnings report, when investors will scrutinize the company’s $108 billion revenue outlook and assess whether demand has staying power, or merely an excellent publicist, as regulatory and infrastructure concerns linger.

Alphabet (NASDAQ: GOOGL $293.45, +2.11%)

Alphabet (NASDAQ: GOOGL, GOOG) is confronting an expensive paradox: Artificial intelligence is bringing more activity to Google while making the economics of that activity harder to predict. Yet the latest results offer a more constructive interpretation than a simple obituary for search. Third-quarter revenue increased 25% to $127.6 billion. Operating income climbed 30% to $40.6 billion. Google Cloud revenue more than doubled. Those are unusual credentials for a company supposedly being escorted toward technological irrelevance. At the close on Thursday, Alphabet shares traded at $283.82, following a 12.64% decline, many are clearly demanding more proof and fewer architectural renderings of future data centers. That skepticism is understandable. But the opportunity lies in distinguishing a difficult transition in monetization from a collapse in demand. Google’s problem is not that people have stopped asking questions. According to management, its year-over-year search-query growth reached its highest rate in five years during the third quarter. The more consequential question is how quickly Google can turn its expanding AI audience into attractive, durable cash flow. Wall Street has little patience for a renovation when the contractor’s estimate begins with a trillion.

Space Exploration Technologies Corp. (SPCX, $139.75, -2.33%)

SpaceX commanded the spotlight in SPCX coverage after Elon Musk projected annual recurring revenue above $500 billion by December 2027, leaving the $180 billion average analyst forecast looking almost bashful. Strong third-quarter revenue added momentum, though Texas data-center regulations and political exposure remained less glamorous items on the risk ledger.

The Sources

1. U.S. market setup and prior-session performance, November 10–11, 2026
2. Nvidia (NVDA) leadership and governance reporting
3. Canadian ambassador’s remarks on tariffs, costs and business expansion
4. CoreWeave (CRWV) quarterly results, outlook and AI infrastructure demand
5. Costco Wholesale (COST) special dividend and repurchase authorization
6. Anthropic’s proposed offering and historical IPO valuation research
7. Bloom Energy (BE), AI power demand and operating performance
8. November 11 equity trading and the Veterans Day market schedule
9. U.S. Bureau of Labor Statistics: October 2026 Consumer Price Index
10. U.S. Bureau of Labor Statistics: Preliminary third-quarter 2026 productivity and costs
11. U.S. Bureau of Labor Statistics: October 2026 Employment Situation