Good afternoon and welcome to Markets Desk.
CoreWeave is the standout mover today, with the AI cloud provider surging after posting revenue and earnings well above expectations. Its chief executive called the quarter an important inflection point, and Wall Street appears to agree — the stock is soaring as demand for AI infrastructure continues to accelerate with no sign of cooling.
Staying in the AI space, Super Micro is also climbing after its latest earnings forecast came in ahead of expectations. The company had already signaled an improved profitability trajectory weeks ago, and this report confirms that trajectory is holding. Investors are rewarding the follow-through, sending shares higher in what amounts to a second consecutive vote of confidence from the market.
On the macro side, the dollar edged marginally higher Tuesday as crude oil prices pushed up more than one percent to a one-week high. The move in oil is stoking inflation expectations, which in turn raises the prospect of tighter Fed policy — a combination that tends to attract flows into the greenback, even as equity markets softened on the session.
That's the tape. Markets Desk, signing off the floor.
