Equities climb as Anthropic's IPO filing buoys AI stocks
SPY•U.S. stocks rose on Monday as Anthropic's IPO filing lifted AI-related shares, with the S&P 500 up 0.67%, the Nasdaq up 0.89% and the Dow up 0.16%. Investors were also watching for a Fed decision, economic data and earnings reports this week.
1. Indexes advance
The S&P 500 and Nasdaq rose after two consecutive weekly declines, as Anthropic's IPO filing helped lift sentiment toward AI-related stocks. The Dow gained 0.16% to 52,297.02, the S&P 500 added 0.67% to 7,675.07 and the Nasdaq Composite rose 0.89% to 26,186.93.
2. AI shares rise
Chip-related companies helped drive the advance, with the Philadelphia semiconductor index up more than 3%, though it remained nearly 12% lower for the month. CoreWeave and Nebius turned higher after early losses, while Lumentum gained about 10% and Coherent rose about 7%. Meta said it plans to raise up to $95 billion in equity to fund AI-related expansion; its shares were down 0.4%.
3. Investors eye catalysts
Anthropic's filing disclosed steep losses and rapid revenue growth, while outlining its ambition to build AI systems. Investors were also preparing for the Federal Reserve's policy statement on Wednesday, economic growth and inflation readings on Thursday, and earnings from more than a third of S&P 500 companies, including Alphabet, Microsoft and Amazon.
