Stock market today: Dow, S&P 500, Nasdaq rally as investors parse Anthropic IPO filing, busy week of tech earnings

1 day ago

US stocks rose on Monday as investors parsed Anthropic’s public IPO filing and braced for a full earnings docket and the Federal Reserve’s next policy decision this week.

The Dow Jones Industrial Average (^DJI) rose 0.3% while the S&P 500 (^GSPC) added 0.9%. The Nasdaq Composite (^IXIC) jumped 1.2% higher after the S&P 500 and Nasdaq Composite posted their second straight week of losses.

52,309.04 +93.88 (+0.18%)

As of 12:44:50 PM EDT. Market Open.

^DJI ^IXIC ^GSPC

Chip stocks including Nvidia (NVDA), Broadcom (AVGO), and Micron (MU) jumped after AI giant Anthropic publicly submitted its S-1 investment prospectus with the Securities and Exchange Commission in a highly anticipated filing on Monday. The filing disclosed that Anthropic earned over $16 billion in revenue in the first half of the year as well as a slew of risk factors.

Follow along live updates from Anthropic’s IPO filing >

Meanwhile, oil prices dipped, with Brent crude futures (BZ=F) falling to $110 per barrel after the global benchmark hit its highest level since April amid escalating tensions in the Middle East.

AI stocks stabilized during the session following last week’s sell-off. Alphabet (GOOG, GOOGL) and Microsoft (MSFT) report earnings on Wednesday as investors weigh growing AI spending and backlogs.

The key event this week will be the Federal Reserve’s policy meeting, where Fed officials are expected to hold rates steady. However, after hotter-than-expected inflation data, many experts expect Fed Chairman Kevin Warsh to tilt toward a “hawkish pause.” Several other global central banks, including the European Central Bank, the Bank of Canada, and the Bank of Japan, will also hold policy-setting meetings this week.

LIVE 12 updates

Oil eases but gasoline prices remain above $4 per gallon

Oil prices eased on Monday, with Brent crude oil futures (BZ=F) tumbling to $110 per barrel and WTI (CL=F) also declining to $101 ahead of a crucial Federal Reserve policy meeting this week.

The decline in crude prices followed a visit by Saudi Arabia’s defense minister to Tehran for talks with senior Iranian officials.

Meanwhile, gasoline prices have eased over the past month but remain above $4 per gallon. On Monday, the national average stood at $4.28 per gallon, down $0.20 from a month ago but up $1.23 from a year earlier, according to AAA data.

Diesel prices stood at $5.34 per gallon, roughly $3.28 more than a year ago.
Tesla stock jumps as Barclays bets a SpaceX takeout bump is coming

Barclays believes a Tesla (TSLA) merger with SpaceX (SPCX) will deliver a takeout premium to shareholders, while the EV maker’s core business and robotaxi push gain momentum.

Lead analyst Dan Levy upgraded Tesla to Overweight from Equal Weight and raised his price target to $450 from $370, citing the confluence of positive factors.

Tesla stock surged 6% on Monday.

“We believe the improvement in Tesla’s core business + inflection in Robotaxi, alongside the potential premium from a combination with SPCX [SpaceX], offers attractive risk/reward for the stock,” Levy wrote.
Retail investor trading is declining, per Goldman Sachs

Retail traders are becoming less engaged with the stock market, Yahoo Finance’s Brian Sozzi reports. He writes:

Retail volumes have declined by about 20% since mid-summer and by more than 40% since late 2025, Goldman Sachs strategist Ben Snider wrote in a new note.

Retail trading activity has recently accounted for only 9% of total US equity trading volume, down from 15% late last year and close to the lowest level since 2020.

“Weak consumer sentiment and elevated energy prices likely explain most of the reduction in retail trading activity,” Snider said.

But it’s not the total explanation, he added.

Read more.

Retail trading on a downtrend. · Goldman Sachs
CoreWeave, AI landlord stocks hover at lowest levels in more than a year

Yahoo Finance’s Jared Blikre reports:

Wall Street is still paying up for the companies that buy AI computing power. It’s dumping the ones that borrowed billions to rent it out.

Think of the neoclouds as AI’s landlords. They take on heavy debt to buy Nvidia (NVDA) chips, then rent out the computing power to companies building AI. That works fine while money is cheap and tenants keep signing leases. It gets dicey when lenders start asking questions.

They’re asking now. A Yahoo Finance basket of eight neoclouds has lost more than 40% since late July. Microsoft (MSFT), one of the biggest renters of AI computing power, has gained nearly as much.

Read more here.
Meta announces plans to raise up to $95 billion for AI build-out

Meta (META) announced plans to raise up to $95 billion to build out its AI infrastructure, with an initial $35 billion in common and preferred stock.

Nvidia (NVDA), AMD (AMD), and Broadcom (AVGO) have signaled they might buy up to $5 billion of the stock, the company said.

Meta said the capital raised would be used for “its core business and emerging AI opportunities.” Those include its apps, its agent Muse, and AI infrastrucutre infrastructure build-out.
Stocks rise at the open

US stocks rebounded at the open on Monday as oil prices fell and anticipation built ahead of tech earnings.

The tech sector (XLK) also got a lift as AI giant Anthropic (ANTH.PVT) filed its S-1 investment prospectus, showing strong revenue growth and spending for the startup. Anthropic’s public debut is expected to rival or surpass SpaceX’s record-breaking IPO in June.

Among the major indexes, the Dow (^DJI), S&P 500 (^GSPC), and Nasdaq Composite (^IXIC) all gained by roughly 0.4% in early trading.
Anthropic publicly files IPO prospectus

Yahoo Finance’s Daniel Howley reports:

Anthropic (ANTH.PVT) has publicly filed its S-1 investment prospectus with the Securities and Exchange Commission, giving investors a look at the company’s most important financial information ahead of its initial public offering.

The company, which will trade under the ticker symbol ANT, said it generated $16.3 billion in revenue in the six-month period that ended in June, more than the $4.6 billion the company saw in all of 2025.

But the company also spent $9 billion on AI infrastructure in the first six months of the year, ahead of the $7.3 billion it spent throughout 2025.

Roughly one-fifth of Anthropic’s revenue came from two customers. The remainder came from a small handful of clients.

According to the S-1, Anthropic saw a net loss of $80.7 billion through June, though the vast majority of that was the result of accounting charges.

Read more.
The 10 biggest stocks are faltering, and it’s dragging the S&P 500 down

Yahoo Finance’s Brian Sozzi reports:

Apple (AAPL) and Nvidia (NVDA) may be renewing their battle for the world’s most valuable company, but a challenging few months for the S&P 500’s (^GSPC) 10 largest companies are holding back the broader index.

The 10 biggest stocks in the S&P 500 have started to falter again relative to the rest of the market, RBC strategist Lori Calvasina rightly pointed out in a new note. These 10 stocks include Apple, Nvidia, Amazon (AMZN), Broadcom (AVGO), the two classes of Alphabet (GOOGL) (GOOG) stock, Micron (MU), Meta (META), Microsoft (MSFT), and Tesla (TSLA).

Top 10 stocks relative to the rest of the S&P 500 stocks (Chart: RBC’s Lori Calvasina)

Their stutter step weighs on the overall stock market given their weight in the benchmark index.

Calvasina said she remains on the sidelines with tech, which she downgraded to a Market Weight rating earlier this month.

Read more.
Brazilian stocks plunge after Lula’s surprise election victory

Brazilian stocks plunged in premarket trading Monday after President Luiz Inácio Lula da Silva secured a surprise reelection victory over right-wing challenger Flávio Bolsonaro, reversing a rally earlier this month.

The iShares MSCI Brazil ETF (EWZ) tumbled 26% premarket, a drop that, if sustained through Monday, would mark its biggest single-day decline since 2000, according to Yahoo Finance data. Its previous record was a 23% decline in March 2020.

Brazilian stocks surged following Bolsonaro’s unexpected first-round lead on Oct. 4 as investors bet the son of former President Jair Bolsonaro would usher in more business-friendly policies.

Heading into Sunday’s runoff, polls showed Bolsonaro holding a narrow lead, while prediction market Kalshi suggested a stronger advantage.
Oil slips from near six-months highs despite supply concerns

Reuters reports:

Oil prices fell on Monday after surging to near six-month ‌highs late last week, although ongoing attacks on ‌Saudi Arabia kept supply concerns in focus.

Prices had settled nearly $3 higher on Friday after Houthi attacks in Saudi Arabia stoked energy ‌supply concerns. Brent finished ⁠the week up 6% and WTI ended 2.3% higher.

Attacks continued over the weekend with ⁠Houthis saying they had attacked the Saudi airport and oil facilities on Saturday. Saudi Arabia said on Sunday it had intercepted more missiles and drones.

The top oil exporter restarted ‌partial operations at its main airport on Sunday after damage in a previous round of Houthi attacks even as the militant group vowed to keep targeting the facility.

Read more.
Good morning. Here’s what’s happening today.

Economic data: Chicago Fed national activity index, September (-0.1 expected, -0.04 prior); Dallas Fed manufacturing activity index, October (9.8 prior)

Earnings calendar: Verizon Communications (VZ), Welltower (WELL), Cadence Design Systems (CDNS), Nucor Corporation (NUE), Public Storage (PSA), Amkor Technology (AMKR)

Catch up on some top stories from the weekend:

‘The world’s super company’: Wall Street weighs SpaceX earnings, company’s likely Tesla tie-up

Inflation under Trump is only about half the rate under Biden. Voters are still just as mad.

SpaceX, Meta, and other hyperscalers are dropping clues you should not ignore

AI bear slams Nvidia’s GPU pitch: ‘There’s not scarcity other than that which is created by Jensen Huang’

Americans have never had more of their money in stocks — not even in the dot-com bubble

Zero-day option traders are betting against big S&P 500 swings

Social Security says it’s cleaning up millions of records. What that means for you.
Fed expected to hold rates steady this week — but signal they’re not done hiking

Yahoo Finance’s Jennifer Schonberger reports:

The Federal Reserve heads into its interest-rate decision this week facing hotter inflation, keeping the meeting live even as markets widely expect the central bank to hold interest rates steady just days before the midterm elections.

Alan Blinder, a former Fed vice chair and a Princeton University economics professor, is expecting a “hawkish pause.”

Although Fed Chairman Kevin Warsh doesn’t favor telegraphing the central bank’s next move, Blinder said the moment calls for clarity.

“This is a perfect time for clear forward guidance that doesn’t quite say, but strongly hints, we’re pausing now, but we stand ready to raise again and even give a hint that the next meeting might be the next interest rate hike.”

Read more.

Chairman of the US Federal Reserve, Kevin Warsh, speaks during a “fireside chat” in Bangkok on Oct. 16, 2026. (Lillian SUWANRUMPHA / AFP via Getty Images) · LILLIAN SUWANRUMPHA via Getty Images