Technology Stocks Lift Equities as Treasuries Rise: Markets Wrap
(Bloomberg) — Technology stocks lifted global equities after stellar revenue growth at Anthropic PBC bolstered the view that massive spending on artificial intelligence will be sustained. Treasuries gained as oil prices fell.
Nasdaq 100 futures rose 0.6%, while the S&P 500 was set to test new highs. Tech stocks fueled gains in Asia and Europe. Brent dropped toward $88 a barrel despite an escalation in Middle East tensions, as producers continued to move large volumes of crude. The dollar fell for a third straight day.
AI-linked stocks have reasserted their leadership after a volatile July that saw investors rotate into economically sensitive sectors. Fresh evidence of surging demand came from Claude chatbot owner Anthropic, which told prospective investors its second-quarter revenue jumped at least 14-fold from the same period in 2025, according to documents seen by Bloomberg.
Traders were also following quarterly disclosures of US equity holdings by large institutional investors, with Berkshire Hathaway Inc. adding to its stake in Alphabet Inc.
“We continue to see strong risk appetite among institutional investors, particularly in areas where earnings are strongest, such as US equities and technology,” said Marija Veitmane, head of equity research at State Street Global Markets.
Gold topped $4,400 an ounce, extending a two-week advance as fading bets on a Federal Reserve interest-rate hike this year weighed on the dollar, making bullion cheaper for most buyers. Copper advanced toward a record, with a key spread in London widening to extreme levels in a sign of competition for prompt supply.
Corporate News:
Stripe Inc. has finalized an agreement to acquire OpenRouter Inc. for more than $7 billion, according to people familiar with the matter. Alphabet Inc. hired banks for what would be a debut offering of Australian dollar bonds. Anthropic PBC is telling prospective investors its second-quarter revenue jumped at least 14-fold versus the same period a year ago, according to documents seen by Bloomberg News. Alibaba Group Holding’s open-weight models have accumulated more than 3 billion global downloads in the past six months, eclipsing Meta Platforms Inc., Alphabet and domestic peers to become the world’s No. 1 artificial-intelligence model. Some of the main moves in markets:
Stocks
The Stoxx Europe 600 rose 0.3% as of 8:39 a.m. London time S&P 500 futures rose 0.2% Nasdaq 100 futures rose 0.6% Futures on the Dow Jones Industrial Average were little changed The MSCI Asia Pacific Index rose 0.4% The MSCI Emerging Markets Index rose 0.6% Currencies
The Bloomberg Dollar Spot Index fell 0.3% The euro rose 0.3% to $1.1608 The Japanese yen rose 0.3% to 158.92 per dollar The offshore yuan was little changed at 6.7390 per dollar The British pound rose 0.2% to $1.3567 Cryptocurrencies
Bitcoin rose 0.8% to $63,510.89 Ether rose 1.1% to $1,901.94 Bonds
The yield on 10-year Treasuries declined two basis points to 4.67% Germany’s 10-year yield declined one basis point to 3.19% Britain’s 10-year yield declined three basis points to 5.01% Commodities
Brent crude fell 0.4% to $88.15 a barrel Spot gold rose 0.7% to $4,407.10 an ounce This story was produced with the assistance of Bloomberg Automation.
–With assistance from Neil Campling.
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