US close: Stocks higher as Anthropic IPO filing lifts chip stocks, policy week begins

(Sharecast News) - Major indices closed higher on Monday as market participants as market participants rotated back into tech and awaited a heavy slate of centralbank decisions later in the week.

At the close, the Dow Jones Industrial Average was up 0.28% at 52,361.58, while the S&P 500 advanced 0.70% to 7,676.77, and the Nasdaq Composite saw out the session 0.82% firmer at 26,169.38.

The Dow closed 146.42 points higher on Monday, reclaiming some of the heavy losses recorded in the previous session.

Microchip and AIlinked stocks traded higher on Monday after Anthropic formally filed for an initial public offering, a move investors hope will inject fresh momentum into a tech sector that has shown signs of fatigue. The Claude developer reported $16.29bn in revenues for the six months ended 30 June - a 1,304% jump from the $1.16bn posted a year earlier - and said it plans to list on the Nasdaq under the ticker ANT.

Elsewhere, Facebook parent company Meta Platforms said it had launched a $95bn equity raise to help fund its heavy investment in artificial intelligence infrastructure, marking one of the largest stock offerings ever attempted by a US tech group. The plan includes $35bn of underwritten new equity and a further $60bn via an atthemarket programme. Meta said the fundraising would support its expanding AI strategy, which it described as creating "significant opportunities" across its core business and new product areas.

Investors also looked ahead to interest rate decisions from the Federal Reserve, European Central Bank and Bank of Japan - due on Wednesday, Thursday and Friday, respectively. Traders will obviously be focused on the US central bank's call, with futures implying around a 90% chance policymakers keep rates at 3.75% to 4%. Even so, Bank of America said a quarterpoint hike remained possible, describing it as a "heavy lift" but not off the table.

Oil prices were in focus on Monday, offering some relief after last week's sharp runup, with Brent falling 0.78% to $115.81 a barrel, while West Texas Intermediate dipped 0.35% to $101.40 a barrel. Brent hit its highest level since April on Friday amid reports the US and Israel could be preparing strikes on Iran after the midterm elections.

In terms of earnings, Verizon reported a steady rise in thirdquarter revenuse on Monday, with earnings improving and adjusted profitability hitting a new high. The telecoms giant posted 1.5% yearonyear improvement in operating revenues to $34.3bn, while consolidated net income rose 5.2% to $5.3bn, and earnings per share increased to $1.25 from $1.17. Adjusted EPS climbed 8.3% to $1.31, while adjusted EBITDA advanced 8% to a record $13.8bn. Verizon also announced an agreement worth over $2bn with Amazon Web Services.

On the macro front, the Chicago Federal Reserve's national activity index improved in September, rising to +0.07 from -0.08 in August, pointing to a modest pickup in US economic momentum. Productionrelated indicators made the biggest positive contribution, strengthening to +0.13 from -0.06, while sales, orders and inventories also turned firmer at +0.02 versus -0.03 previously. Employment was broadly neutral after a slight drag in August. By contrast, personal consumption and housing weighed on the headline figure, with their contribution slipping to -0.08 from +0.02 a month earlier. The index's threemonth moving average edged up to +0.03 from +0.01, suggesting underlying activity remains slightly above trend.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Intel Corp. (INTC) $90.47 6.45%

Cisco Systems Inc. (CSCO) $110.24 4.91%

Dow Chemical Co. (DOW) $33.99 4.23%

Microsoft Corp. (MSFT) $532.60 2.82%

Goldman Sachs Group Inc. (GS) $893.28 2.01%

Nike Inc. (NKE) $37.91 1.64%

McDonald's Corp. (MCD) $250.83 0.95%

Johnson & Johnson (JNJ) $266.30 0.94%

Caterpillar Inc. (CAT) $692.13 0.82%

JP Morgan Chase & Co. (JPM) $334.04 0.74%

Dow Jones - Fallers

Verizon Communications Inc. (VZ) $43.10 -3.49%

Merck & Co. Inc. (MRK) $140.61 -3.19%

Apple Inc. (AAPL) $343.91 -2.03%

Walt Disney Co. (DIS) $110.40 -1.87%

Unitedhealth Group Inc. (UNH) $410.70 -1.77%

Visa Inc. (V) $404.16 -0.92%

Procter & Gamble Co. (PG) $159.92 -0.74%

Chevron Corp. (CVX) $232.01 -0.53%

3M Co. (MMM) $172.79 -0.40%

Salesforce.Com Inc. (CRM) $247.61 -0.39%

S&P 500 - Risers

Akamai Technologies Inc. (AKAM) $98.50 9.26%

Synopsys Inc. (SNPS) $454.33 8.67%

Ipg Photonics Corp. (IPGP) $72.81 6.65%

Intel Corp. (INTC) $90.47 6.45%

Texas Instruments Inc (TXN) $298.12 5.94%

Fortinet Inc. (FTNT) $183.33 5.65%

Lockheed Martin Corp. (LMT) $635.20 5.13%

Analog Devices Inc. (ADI) $407.93 5.11%

Lam Research Corp. (LRCX) $237.50 4.94%

Cisco Systems Inc. (CSCO) $110.24 4.91%

S&P 500 - Fallers

FMC Corp. (FMC) $4.61 -8.71%

Coterra Energy Inc. (CTRA) $32.56 -8.62%

Charter Communications Inc. (CHTR) $102.18 -7.75%

Whirlpool Corp. (WHR) $26.45 -5.91%

Mattel Inc. (MAT) $15.82 -5.41%

Tractor Supply Company (TSCO) $32.53 -5.30%

Netflix Inc. (NFLX) $63.90 -4.67%

Cognizant Technology Solutions Corp. (CTSH) $69.34 -4.62%

Intuit Inc. (INTU) $339.89 -4.44%

Adobe Systems Inc. (ADBE) $258.62 -4.37%

Nasdaq 100 - Risers

Synopsys Inc. (SNPS) $454.33 8.67%

Intel Corp. (INTC) $90.47 6.45%

Texas Instruments Inc (TXN) $298.12 5.94%

Tesla Inc (TSLA) $391.62 5.84%

Analog Devices Inc. (ADI) $407.93 5.11%

Lam Research Corp. (LRCX) $237.50 4.94%

Cisco Systems Inc. (CSCO) $110.24 4.91%

Cadence Design Systems Inc. (CDNS) $322.17 4.69%

Check Point Software Technologies Ltd. (CHKP) $159.63 4.30%

Micron Technology Inc. (MU) $903.70 4.28%

Nasdaq 100 - Fallers

Qvc Group Inc Series A (QVCGA) $0.34 -13.49%

Charter Communications Inc. (CHTR) $102.18 -7.75%

Mercadolibre Inc. (MELI) $1,668.72 -7.36%

Liberty Global plc Series A (LBTYA) $7.54 -5.87%

Liberty Global plc Series C (LBTYK) $7.50 -4.70%

Netflix Inc. (NFLX) $63.90 -4.67%

Cognizant Technology Solutions Corp. (CTSH) $69.34 -4.62%

Intuit Inc. (INTU) $339.89 -4.44%

Adobe Systems Inc. (ADBE) $258.62 -4.37%

Comcast Corp. (CMCSA) $22.05 -4.23%