Stocks Extend Gains on Anthropic IPO, Oil Drops: Markets Wrap
(Bloomberg) — Global stocks extended gains as Anthropic PBC’s filing for an initial public offering renewed optimism over the artificial intelligence trade following recent strains. Crude oil declined further.
Asian equities rose 0.8%, led by technology shares in South Korea and Japan, after Wall Street benchmarks on Monday snapped a two-day losing streak. Chip heavyweights SK Hynix Inc. and Samsung Electronics Co. — seen as the picks and shovels of the AI boom — both rallied over 4%, with earnings scheduled later this week.
The advance in equities, though, showed signs of losing some steam, with Nasdaq 100 futures slipping 0.1% and European shares set for a weaker open.
Beyond Anthropic, tech fundraising was the main sentiment driver, with Meta Platforms Inc. seeking to raise as much as $95 billion. Broadcom Inc. arranged a $63 billion deal to finance the purchase of chips, while SpaceX signed a roughly $40 billion equipment-finance lease deal.
Elsewhere, global crude oil benchmark Brent fell 1% to about $114.70 a barrel as senior officials from several countries traveled to Tehran in a bid to revive talks aimed at preventing a broader escalation in the Middle East.
Anthropic’s offering will be a key test of investor appetite for AI companies after concerns over stretched valuations and heavy spending triggered a rout in chip stocks. Attention now turns to the Federal Reserve’s rate decision Wednesday and results from megacap firms, which will provide fresh clues on whether the tech trade can recover from its recent weakness.
“Anthropic’s IPO filing is expected to reignite interest in the AI sector,” said Hideyuki Ishiguro, chief strategist at Nomura Asset Management. Semiconductor stocks are poised for a near-term rebound, given their cheap valuations and improving technical signals, he said.
In other corners of the market, a Bloomberg gauge of the dollar’s strength held its gains from the past two sessions. Treasuries edged up across the curve, with the yield on the benchmark 10-year falling two basis points to 4.97%.
Treasuries have rallied across the board this month as a selloff in AI-related shares, the crisis in France and ongoing tensions in the Middle East all combined to make US government debt the investment of choice for global investors. The benchmark 10-year Treasury yield has slumped more than 30 basis points so far in October, set to snap a seven-month rising streak.
Anthropic filed its long-awaited S-1, moving closer to becoming the first publicly traded company focused primarily on developing advanced AI models. Investors are scrutinizing the filing for clues on AI demand after weeks of doubts over the trade.
Wall Street has been racing to finance the AI frenzy, which includes surging demand for chips and data centers to provide computing power needed to back the technology.
But the rising levels of debt and equity pouring into the space, along with cash burn at frontier AI labs, have raised worries that some of the financing could be unsustainable.
“This is one of the most exciting investment periods I’ve ever seen,” Rick Rieder, global fixed income chief investment officer at BlackRock Inc., said in an interview with Bloomberg TV. “I spent the entire weekend looking at some of these transactions, participating in a pretty significant way in some of these transactions.”
The rebound in the AI trade faces a test later this week when some of the biggest AI spenders report earnings.
Alphabet and Microsoft Corp. are due Wednesday, followed by Amazon.com Inc. and Intel Corp. on Thursday. Investors will be watching their spending plans and, crucially, whether those investments are generating sufficient returns.
“The key question is whether this week’s results can restore confidence in the durability of AI-related demand,” said Jung In Yun, chief executive officer at Fibonacci Asset Management Global. “For the recovery to last, we need reassuring earnings guidance and sustained foreign buying,” Yun said.
The Fed also provides another major test, with policymakers widely expected to leave rates unchanged after raising them in September. Markets are pricing about a 10% chance of a hike Wednesday, compared with more than 70% odds of an increase by year-end.
“With so many firms reporting this week, we would typically say that macro factors will take a back seat to idiosyncratic results. However, we have the Fed on Wednesday and what could be a very tricky, complicated press conference,” wrote Christopher Harvey, head of equity and portfolio strategy at CIBC, in a note.
Corporate Highlights:
HSBC Holdings Plc reported a 32% jump in quarterly profit, missing analyst estimates even as the lender expressed optimism about the rest of the year. Microsoft will offer buyouts to about 60,000 workers, part of the company’s efforts to trim costs and retool its workforce for the AI era. The iPhone Duo, one of Apple Inc.’s biggest new products in years, is drawing a growing number of complaints from customers who say the foldable display cracked after just hours or days of use. Some of the main moves in markets:
Stocks
S&P 500 futures were little changed as of 1:55 p.m. Tokyo time Japan’s Topix rose 0.5% Australia’s S&P/ASX 200 rose 0.5% Hong Kong’s Hang Seng fell 0.1% The Shanghai Composite fell 0.1% Euro Stoxx 50 futures fell 0.2% Currencies
The Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1169 The Japanese yen was little changed at 157.60 per dollar The offshore yuan was little changed at 6.6674 per dollar Cryptocurrencies
Bitcoin fell 0.2% to $79,547.4 Ether rose 0.2% to $2,307.06 Bonds
The yield on 10-year Treasuries declined two basis points to 4.97% Japan’s 10-year yield advanced one basis point to 2.790% Australia’s 10-year yield was little changed at 5.15% Commodities
West Texas Intermediate crude fell 1% to $100.72 a barrel Spot gold fell 0.1% to $4,012.05 an ounce This story was produced with the assistance of Bloomberg Automation.
–With assistance from Momoka Yokoyama, Youkyung Lee, Paul Dobson and Winnie Hsu.
(An earlier version corrected references to China bond yield.)
©2026 Bloomberg L.P.
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