TLDR
- The Dow rose 0.28%, the S&P 500 gained 0.7%, and the Nasdaq jumped 0.82% on Monday.
- Anthropic’s IPO filing showed $16.29 billion in revenue for the six months ended June.
- The iShares Semiconductor ETF rose nearly 3%, led by Nvidia, Micron, Broadcom and Advanced Micro Devices.
- Alphabet and Microsoft report earnings Wednesday, the same day as the Fed decision.
- Fed funds futures show a 90% chance rates hold at 3.75% to 4%.
US stocks rose on Monday as chip makers rallied. The gains followed Anthropic’s public IPO filing, which renewed interest in artificial intelligence stocks.
The Dow Jones Industrial Average added 146.42 points, or 0.28%, to close at 52,361.58. The S&P 500 gained 0.7% to 7,676.77.
The Nasdaq Composite rose 0.82% to finish at 26,169.38. Both the S&P 500 and the Nasdaq are coming off two straight weekly losses.
Anthropic Filing Lifts AI Shares
Anthropic reported $16.29 billion in revenue for the six months ended June. That is up 1,304% from $1.16 billion in the same period a year earlier.
The company behind Claude plans to list on the Nasdaq. Investors are hoping the offering will bring new life to the tech sector.
Anthropic has filed an S-1 registration statement with the SEC related to its proposed IPO.
Read more: https://t.co/zuRMrxXzNx
Legal disclaimer: A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities…
— Anthropic (@AnthropicAI) October 26, 2026
Jay Woods, chief market strategist at Freedom Capital Markets, said the market needed the news. He said he expects strong demand because people have waited a long time for this IPO.
The iShares Semiconductor ETF rose nearly 3%. Nvidia climbed 2.4%, Micron gained 3%, Broadcom rose 2.3%, and Advanced Micro Devices jumped 2.8%.
Chipmakers are still in a bear market. The semiconductor ETF is down about 25% from its high and 13% this month.
Other AI news added to the mood. Meta Platforms said it plans to raise $95 billion for its AI spending, and Elon Musk said SpaceX closed a $40 billion debt deal for AI chips.
Neocloud stocks also bounced. CoreWeave rose almost 2% and Iren gained 2.1%, even after Musk said more than 200 companies in the space face “guppy-level death.”
Falling oil prices also helped. Brent futures fell 0.8% to $115.81 a barrel, while West Texas Intermediate slid 1.7% to $101.57.
Brent hit its highest level since April on Friday. That followed reports that the US and Israel could be planning strikes on Iran after the midterm elections.
Earnings and Fed Decision Ahead
This is the peak week for earnings, with 163 S&P 500 companies set to report third quarter results. UPS, Coca-Cola, Visa and Boeing report on Tuesday.
Alphabet and Microsoft report on Wednesday. Amazon is also expected to report this week, after Meta’s results last week.
The Federal Reserve begins a two-day meeting on Tuesday. Fed funds futures show a 90% chance that rates will hold at 3.75% to 4%.
On Tuesday morning, Nasdaq-100 futures fell 0.3%, S&P 500 futures drifted lower, and Dow futures sat just above flat. Investors are pricing in only 10% odds of a rate hike, per CME Group.
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