U.S. stocks rise as Dow gains 200 points, AI firm Anthropic files for IPO
Wall Street opened higher on Monday with the Dow Jones up over 200 points and the S&P 500 and Nasdaq 100 each gaining about 0.4%, while crude oil prices slipped and the Federal Reserve is expected to hold rates steady.
U.S. equity markets started the week in positive territory on Monday, with the Dow Jones Industrial Average climbing more than 200 points (0.4%), and the S&P 500 and Nasdaq 100 each advancing roughly 0.4% during regular trading. The gains followed a previous week in which the major indices closed lower amid a decline in artificial-intelligence-related stocks.
Oil prices retreated from five-month highs, with West Texas Intermediate falling over 2% to around $100 a barrel and Brent crude trading about 1.5% lower at $114 a barrel as investors reassessed geopolitical risks in the Middle East.
U.S. Treasury yields continued to move lower, with the 10-year and 30-year yields extending their declines, while the two-year yield rose 9 basis points to 4.7% ahead of the Federal Reserve’s policy decision scheduled for Wednesday.
The CME FedWatch tool now indicates a 90% probability that the Fed will leave its benchmark rate unchanged in the October meeting, maintaining the target range of 3.75% to 4.00%. Federal Reserve Chairman Kevin Warsh reiterated the central bank’s commitment to reducing inflation.
The latest consumer-price index report showed inflation at 3.7%, ending a two-month pause at 3.4%. Economic activity remained stable, with the composite PMI for October at 57.1.
In corporate news, AI company Anthropic filed an S-1 registration statement for an initial public offering. Analysts project the company could raise about $100 billion at a valuation near $2 trillion, joining the megacap tier after listing. Anthropic reported $16.3 billion in revenue for the first half of 2026 and a net loss of $80.7 billion, and its filing includes warnings about the existential risks of AI.
Semiconductor stocks rallied, with the SOX index gaining over 1% as several chip makers posted gains. Notable performers included NXP Semiconductors (+3.5%), Lam Research (+2.5%), Tower Semiconductor (+2.1%), Nvidia (+1.8%), Broadcom (+1.3%), Micron Technology (+1.3%) and Qualcomm (+0.7%).