Equities end higher as Anthropic's IPO filing buoys AI stocks
By Chuck Mikolajczak and Shashwat Chauhan
Mon October 26, 2026
Anthropic filed its IPO today which showed steep losses but huge revenue growth, the growth investors decided was the compelling factor to put AI back in favor again. This caused all three indexes to explode straight skyward right out the gate, the Dow up 400 points and Nasdaq 300 by 11 a.m. But at 11 a.m., though tech stayed relatively steady due to this week’s coming influx of Q3 from the hugest tech players, the Dow sank for the rest of the session but still managed a nice 3-digit gain.
The Anthropic news triggered AI optimism which shot the chip index up a whopping 2.8% for the day but due to the whipping it’s taken this month, still down 12.2% for October. Coming this week are Q3 reports from Alphabet, Microsoft and Amazon and, by Friday, 1/3 of the S&P Q3 will be in. But it is the reality that the market could tank again if those reports are not positive that likely caused the cautionary decline in the Dow. And there’s also the Fed meeting on Wednesday though the odds of a hike are only 12.7%. So no change in Fed policy this week but few on Wall Street believe that will last. At 16.7 billion, volume was a tad below the 17.2 average.
DJ: 52,215.16 -652.82 NAS: 25,955.34
-53.52 S&P: 7,623.68
-39.75 10/23
DJ: 52,361.58 +146.42 NAS: 26,169.38
+214.04 S&P: 7,676.77
+53.09 10/26
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