[New York Stock Market] Rises on Anthropic IPO Filing... Semiconductor Stocks Gain

Investor sentiment toward AI and semiconductor stocks strengthens
International oil prices fall across the board

All three major indexes on the New York Stock Exchange were rising on Monday (local time). Investor enthusiasm for AI grew after Anthropic filed for an initial public offering (IPO), lifting semiconductor stocks as well.

As of 9:57 a.m. on the New York Stock Exchange, the Dow was trading at 52,441.39, up 226.23 points (0.42%) from the previous trading day. The S&P 500, which is made up of large-cap stocks, rose 33.30 points (0.44%) to 7,656.99, while the Nasdaq, which is weighted toward technology stocks, gained 68.50 points (0.26%) to 26,023.85.

Buying flowed into AI- and semiconductor-related stocks after news that Anthropic plans to list on the Nasdaq. Anthropic filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission and announced plans to list on the Nasdaq. It plans to use "ANT" as its ticker symbol, but has not yet determined the number of shares to be offered or the price range.

Markets expect the IPO to be the largest on record. Anthropic's listing is drawing particular attention because it could serve as a test of market demand for the AI industry.

Semiconductor stocks led gains by sector. Nvidia was up 1.68%, Micron Technology 1.42%, Broadcom 0.87%, AMD 0.09%, Qualcomm 0.66%, Intel 0.50% and Cisco Systems 2.31%.

Financial stocks also rose across the board, with Blackstone up 0.44%, Goldman Sachs 2.07% and Morgan Stanley 2.43%. In contrast, oil and energy stocks were lower. Exxon Mobil fell 0.33%, Chevron 0.64%, Occidental Petroleum 0.64%, Diamondback Energy 0.13% and APA 0.72%.

Lower international oil prices also supported the stock market. West Texas Intermediate (WTI) crude for December delivery fell 1.35% from the previous session to $101.88 per barrel on the New York Mercantile Exchange. Brent crude for December delivery was trading at $115.95 per barrel on the ICE Futures Exchange, down 0.63% from the previous session.

Investors are also watching the Federal Reserve's (Fed) interest rate decision and earnings reports from major technology companies scheduled for this week. The Fed is expected to announce its benchmark interest rate after concluding its Federal Open Market Committee (FOMC) meeting on October 28. In the federal funds futures market, traders are pricing in a 90% chance that the Fed will hold its current rate at 3.75%-4.00% per year.

This content was produced with the assistance of AI translation services.