U.S. stocks rose in Monday morning trading as chipmakers advanced and investors considered Anthropic PBC’s proposed offering, while oil retreated from recent highs, Reuters reported.
The Nasdaq Composite gained 0.46% to 26,074.96, while the S&P 500 rose 0.57% to 7,666.88 and the Dow Jones Industrial Average added 0.45%, or 236.42 points, to 52,451.58, Reuters reported in a 9:55 a.m. EDT snapshot on Oct. 26.
Anthropic said it filed a Form S-1 registration statement with the Securities and Exchange Commission for a proposed sale of Class A common stock. The company plans to list on the Nasdaq Global Select Market under the symbol “ANT,” but has not set the share count or price range. The registration statement is not yet effective.
In a later report, Reuters said Nvidia and Broadcom each gained about 3%, Micron rose 3% and Advanced Micro Devices climbed 2.5%. Reuters also reported the Philadelphia Semiconductor Index was up more than 3%. The news agency described the proposed listing as potentially the first stock market debut by a frontier AI lab. It said investors were examining debt-funded AI infrastructure spending amid higher borrowing costs, while analysts warned the offering could draw money away from other technology stocks.
Reuters’ 10:37 a.m. EDT snapshot put Brent crude futures at $114.70 a barrel, down 1.7%, and U.S. West Texas Intermediate futures at $100.71, down 2.5%. Reuters connected the decline to hopes of easing U.S.-Iran hostilities. The agency also reported Houthi claims of strikes on Saudi targets and Saudi Arabia’s statement that it intercepted missiles and drones.
Brent crude settled above $116 a barrel Friday, its highest level since June 2022, while U.S. stocks declined: the Dow fell 1.2%, the S&P 500 0.5% and Nasdaq 0.2%, the Associated Press reported.
The Federal Reserve calendar lists a two-day Federal Open Market Committee meeting for Oct. 27-28. Reuters reported the policy decision is due Wednesday.
