US stocks end higher as Anthropic's IPO filing buoys AI stocks
SPY•US stocks closed higher Monday as Anthropic's IPO filing lifted AI-related stocks. The S&P 500 gained 0.70% to 7,677.03, the Nasdaq rose 0.83% to 26,169.38 and the Dow added 0.28% to 52,361.76.
1. Stocks gain on AI optimism
US stocks closed higher Monday, with the S&P 500 and Nasdaq ending a run of two consecutive weekly declines. Anthropic's IPO filing helped buoy sentiment toward AI-related stocks as investors weighed the potential returns from large AI investments.
2. Earnings and Fed in focus
More than a third of S&P 500 companies are scheduled to report earnings this week, including Alphabet, Microsoft and Amazon.com. Investors are also watching the Federal Reserve's policy statement on Wednesday and economic growth and inflation readings due Thursday. Semiconductor stocks rose about 3%, while Tesla reached its highest intraday level in more than three months after Barclays upgraded its rating to overweight from equal-weight.
