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NextFin News - U.S. stocks rose Monday, snapping back from last week's losses, as Anthropic's public IPO filing renewed enthusiasm for artificial intelligence stocks ahead of a heavy week of big-tech earnings and a Federal Reserve decision. The S&P 500 gained 0.70%, the Nasdaq advanced 0.82% and the Dow added 0.28%. The session's central tension was between that AI-driven rebound and the macro backdrop of high oil prices, which pulled back from Friday's peak, and a Fed meeting that investors expect to hold rates before a likely hike in December. A closely watched chip gauge rose about 3.3%, and even CoreWeave, which has been hit by AI financing worries, ended in positive territory.
The Dow Jones Industrial Average rose 0.28%
The S&P 500 Index rose 0.70%
The Nasdaq Composite advanced 0.82%
Stock & Sector Performance
Technology led the advance, with semiconductors and optical-networking names among the day's biggest winners. Lumentum, Coherent, Bloom Energy and Comfort Systems were among the strongest S&P 500 performers at midday, while Microsoft rose 1.54% to lead the megacaps. The Nasdaq closed at 26,169.38, the S&P 500 at 7,676.77 and the Dow at 52,361.58, up 146.42 points. The Russell 2000 gained 0.43% to 2,787.81. Fair Isaac, Reddit, Omnicom and Charter Communications were among the laggards in the S&P 500 at midday.
Hot Sectors to Watch
AI infrastructure and semiconductors are in focus again, and Monday's move shows how quickly sentiment can swing. The Nasdaq-100 rose about 1.2%, and the chip gauge's 3.3% gain more than recovered part of last week's slide, which had taken the sector to its lowest level since late July. This is a relief rally inside a still-damaged trend, not a confirmed recovery, and Anthropic's filing provides a catalyst rather than a change in the earnings or financing picture.
Wolfe Research's Rob Ginsberg noted that market action beneath the surface last week was healthier than the headline indexes suggested, and equal-weight measures have outperformed in October. That suggests the market's leadership is broadening even as AI names swing sharply.
Major Story of the Day
Anthropic's IPO filing was the day's dominant story. The company filed its S-1 with the SEC to list Class A shares on the Nasdaq under the ticker ANT, with Goldman Sachs and Morgan Stanley leading the offering. The prospectus shows first-half 2026 revenue of $16.3 billion, up from $1.16 billion a year earlier, with second-quarter revenue of $11.56 billion and a first operating profit of $974 million. The company reported an $80.7 billion net loss, driven mostly by $72.4 billion in non-cash fair-value changes on financing instruments. It also lists compute commitments of at least $114.5 billion with Google, $110 billion with Amazon and $44.9 billion with Microsoft. The filing does not set a price range, share count or valuation. Reports say the company aims to list in the week of Nov. 16, possibly at a valuation of $1.5 trillion to $2 trillion, which would be a roughly 22 to 30 times multiple on that revenue run-rate by one analyst's estimate. Alphabet and Amazon, both major Anthropic partners, also report earnings this week.
After-Hours Earnings Preview
This week's big-tech earnings, including results from Alphabet and Amazon, will test whether AI capital spending is paying off after Meta's post-earnings drop last week. The Federal Reserve decision is due Wednesday, and the personal consumption expenditures inflation report follows later in the week.
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