Risk appetite resumes as Nasdaq leads US indexes higher
SPY•US indexes ended higher on Monday, with the Nasdaq up 0.8% and the S&P 500 up 0.7%, as Anthropic’s IPO filing reinvigorated the AI trade. The 10-year Treasury yield edged down ahead of Wednesday’s Federal Reserve decision.
1. Indexes finish higher
Risk appetite returned on Monday as Anthropic’s IPO filing reinvigorated the AI trade ahead of a busy week of corporate earnings. The Nasdaq rose 0.8%, the S&P 500 gained 0.7% and the Dow Jones Industrial Average added 0.3%.
2. Sector and rate moves
Technology was the S&P 500’s top-performing sector, gaining 1.5%, while communication services was the weakest, dropping 1.4%. Longer-dated Treasury yields edged lower ahead of the Federal Reserve’s Wednesday rate decision; futures traders priced in 84% odds of a rate hike in December.
