.png){kind=logo}
US stocks have opened higher on Monday, Oct. 26, as Anthropic’s plan to go public brought buyers back to technology shares while oil prices retreated. The gains came ahead of corporate earnings and a Federal Reserve interest-rate decision.
The Dow Jones Industrial Average rose 105.3 points, or 0.20%, to 52,320.45 at the opening bell. The S&P 500 gained 16 points, or 0.21%, to 7,639.70, while the Nasdaq Composite advanced 71.5 points, or 0.28%, to 26,026.87. Both indexes fell for two straight weeks.
Anthropic filed its registration statement with the Securities and Exchange Commission on Monday. The Claude developer plans to list Class A shares on Nasdaq under the ticker “ANT.” It has not set an offer size or price range.
The filing put renewed attention on AI companies after last week’s technology stock sell-off. Anthropic reported USD 16.29 billion in revenue for the first six months of 2026, compared with about USD 1.16 billion a year ago.
Chipmakers joined Monday’s advance. Nvidia gained about 1.4%, Micron rose 2.3%, Broadcom added 1.5%, and Advanced Micro Devices climbed 1.3% in early trading. However, shares of companies that rent AI computing capacity remained under pressure following concerns over debt used to build data centers.
Lower crude prices provided another change from the previous week’s trading. Brent futures fell about 1.4% to USD 115.02 a barrel, while West Texas Intermediate crude dropped roughly 2% to USD 101.01. Both benchmarks had climbed sharply as fighting in the Middle East raised concerns about energy supplies.
Brent had reached a multi-month high on Friday. Higher fuel prices had added to inflation concerns and contributed to selling across several stock market sectors. Monday’s decline offered some relief, although oil remained higher than at the start of October.
The market's recovery followed a difficult week for AI-related investments. The Nasdaq 100 declined 5.5% last week, while Meta shares dropped about 10% after the company indicated it needed more capital for AI spending.
Investors now face the Federal Reserve’s two-day policy meeting on Oct. 27–28. The central bank raised its benchmark interest-rate target to 3.75%–4% in September. Futures markets were pricing in about a 90% probability that officials would leave rates unchanged on Wednesday.
The Fed has continued to focus on inflation while assessing economic growth and employment. Recent oil gains have complicated that assessment. Investors will examine the central bank’s statement for its assessment of price pressures.
Corporate earnings will provide another test for technology shares. Microsoft and Alphabet are scheduled to report results on Wednesday, followed by Amazon on Thursday. Investors will review revenue, profit and planned AI spending after questions about the cost of expanding data centers affected technology stocks last week.
Away from chipmakers, Tesla rose around 2% in premarket trading after Barclays upgraded the electric vehicle maker to overweight. The bank cited the company’s core operations, its robotaxi business and possible transactions involving SpaceX.
Range Resources gained about 15% before the bell after EQT announced an all-stock acquisition. The companies said their combination would create a natural gas producer with an enterprise value exceeding USD 50 billion. EQT shares fell about 4%, and the transaction is expected to close in the first quarter of 2027, subject to approvals.
The broader rebound follows heavy trading by investment funds. Goldman Sachs reported that its prime brokerage clients sold about USD 20 billion in technology stocks over the past two weeks.
Its figures showed trend-following hedge funds lost 2% last week, their worst weekly performance since 2024. The same period brought the largest reduction in single-stock positions since late July.
Also Read: FTSE 100 Index Trades 10 Points Higher at 10,701 Amid Falling Treasury Yields
