Nasdaq Movement Overview
US stocks rebounded on Monday 26 October 2026 as Anthropic’s public IPO filing revived enthusiasm for artificial intelligence stocks, with chipmakers leading the gains. The Nasdaq Composite closed at 26,169.38 and the S&P 500 rose 0.70%, as of the US close at 04:00 UTC+8 on 27 October 2026. The advance followed back-to-back weekly losses for both indexes.
Key Driver Behind The Move
Anthropic publicly filed for an IPO on Monday, seeking to list on the Nasdaq under the ticker ANT. The filing disclosed first-half revenue of $16.29 billion alongside a large net loss, highlighting the steep costs of developing and scaling up advanced AI models. Investors are betting the offering will add new life to the flagging tech sector.
Investors had increasingly questioned whether debt-fuelled AI spending would yield adequate returns, which battered AI and tech valuations over the past two weeks and drove deep losses on Wall Street.
Market Data And Reaction
The Philadelphia Semiconductor Index rose 2.82%, but it remains down 12.2% for the month, leaving Monday’s move as a partial recovery. Optical-component makers Lumentum and Coherent were among the best performers in the S&P 500, and neocloud firms such as CoreWeave erased earlier declines.
Futures edged higher in Monday evening trade, with technology stocks remaining upbeat.
Broader Market Implications
The AI trade remained in focus. Many parts of the market took part in Monday’s rise, but the gains were led by technology.
Megacap tech earnings later this week are expected to give further clues on the AI trade, and the Federal Reserve’s decision is also due, with a hold largely expected.
What Equity Traders Should Watch
- Alphabet and Microsoft’s September-quarter earnings on Wednesday 28 October 2026, and Amazon’s on Thursday 29 October 2026.
- The Federal Reserve’s policy decision on 28 October 2026, where a hold is largely expected.
- Third-quarter US GDP and the PCE price index, the Fed’s preferred inflation gauge, both due on Thursday 29 October 2026.
- Anthropic’s planned Nasdaq listing, which the company is targeting for November.
