investingLive Americas FX news wrap 26 Oct: Anthropic IPO puts AI back in focus as stocks rebound

• At the close: US stock markets climb Monday as Anthropic files for IPO
• US and Canada working on deal to ease tariffs on Canadian steel and auto imports
• The once Magnificent 7 are not so magnificent, but they still are large cap technology movers
• Saudi Arabia offers cash to Houthis to stop attacks - report
• The cost of intelligence is collapsing
• US Treasury sells $69 billion of 2-year notes at a high yield of 4.708%
• Saudi, Pakistani, Iranian and Turkish security chiefs sit down in Tehran, agree to continue talks
• US October Dallas Fed manufacturing index 13.4 vs 9.8 prior
• Anthropic files for IPO on Nasdaq, will use the symbol 'ANT'
• Morning Kickstart: Dollar higher as Fed, earnings and data flood loom
• investingLive European session wrap: Stocks rebound as oil eases, French bonds find relief

AI moved back into the spotlight Monday as Anthropic’s public IPO filing gave traders another reason to assess both the opportunity—and the enormous financing requirements—behind the industry’s expansion.

U.S. stocks moved higher, while oil pulled back. The dollar strengthened against all the major currencies in your closing snapshot, but gold still managed a modest gain. Treasury trading was more divided, with shorter yields rising and longer yields edging lower.

Anthropic: A big IPO—and a big test for AI

Anthropic filed for an IPO, applying to list on the Nasdaq under the symbol ANT. The maker of Claude has taken another step toward becoming a publicly traded company, although the filing leaves the number of shares and offering price unset. Filing for an IPO is a step toward a listing; the shares have not begun trading. sec.gov

InvestingLive reported expectations that the offering could raise more than $100 billion at a valuation of $1.5 trillion to $2 trillion. Those remain potential deal parameters, rather than a priced offering. investinglive.com

The growth is substantial. Anthropic reported more than $16 billion in first-half revenue, roughly 14 times the year-earlier amount. That gives investors evidence of rapidly expanding demand, but the company also disclosed substantial losses.

For traders, the question is straightforward: How much is that growth worth, and how much additional capital will be needed to support it? A successful offering would demonstrate continued appetite for AI exposure. It would also bring another major company competing for investor dollars. My takeaway is that enthusiasm for the technology and discipline about valuation will need to travel together.

Dollar finishes higher across the board

The USD gained against every major currency Its largest advance was against the Japanese yen, while its smallest gain was against the Canadian dollar:

• Versus JPY: +0.41%, with USDJPY at 157.51.
• Versus NZD: +0.35%, with NZDUSD at 0.5679.
• Versus CHF: +0.34%, with USDCHF at 0.8277.
• Versus AUD: +0.26%, with AUDUSD at 0.7015.
• Versus EUR: +0.23%, with EURUSD at 1.1176.
• Versus GBP: +0.21%, with GBPUSD at 1.3344.
• Versus CAD: +0.11%, with USDCAD at 1.4020.

Treasury curve flattens

The late-session Treasury snapshot showed yields mixed:

• 2-year: 4.7159%, +3.39 basis points.
• 5-year: 4.8209%, +1.39 basis points.
• 10-year: 4.9863%, −0.17 basis points.
• 30-year: 5.2985%, −1.65 basis points.

The curve flattened as shorter maturities underperformed. That was consistent with continued caution about the near-term policy outlook, even as longer yields found some relief.

The Treasury also sold $69 billion of 2-year notes at 4.708%, slightly above the 4.705% when-issued yield. That 0.3-basis-point tail indicated buyers required a small yield concession. Investinglive.com

U.S. stocks rebound; chips lead

The closing levels shows:

• Dow industrial average: 52,297.02, +0.16%.
• S&P 500: 7,675.07, +0.67%.
• Nasdaq Composite: 26,186.93, +0.89%.

Semiconductors outperformed, with the Philadelphia Semiconductor Index gaining more than 3%. Tesla rose around 5.3% following a Barclays upgrade. Anthropic’s filing helped put AI back in focus ahead of major technology earnings and the Fed decision.

Chip and AI shares lead the rebound

Chipmakers and companies tied to the AI infrastructure buildout were among the session’s strongest performers. The buying extended beyond processors to optical networking, memory, storage, power generation and cooling equipment.

In your late-session snapshot, the winners included:

• Lumentum (LITE): +8.19%
• Arm (ARM): +6.19%
• Coherent (COHR): +5.83%
• Bloom Energy (BE): +5.49%
• GE Vernova (GEV): +4.92%
• Texas Instruments (TXN): +4.72%
• Skyworks Solutions (SWKS): +4.09%
• Intel (INTC): +4.04%
• Datadog (DDOG): +3.93%
• Western Digital (WDC): +3.63%
• Cisco (CSCO): +3.51%
• Lam Research (LRCX): +3.22%

Anthropic’s IPO filing put the AI growth story back in the spotlight. The breadth of Monday’s gains suggested buyers were looking across the infrastructure needed to support that growth. Data centers need chips, but they also need faster connections, storage, reliable electricity and cooling.

After last week’s pressure on technology shares, buyers made a stronger showing. The next question is whether earnings and spending guidance can give them a reason to keep going.

European shares finish higher

The European closing snapshot showed broad gains:

• Germany’s DAX: 25,410.85, +0.91%.
• France’s CAC 40: 7,847.33, +0.83%.
• U.K. FTSE 100: 10,767.32, +0.72%.
• Spain’s IBEX 35: 19,033.29, +0.23%.
• Italy’s FTSE MIB: 49,186.16, +0.99%.

Oil retreats, but geopolitical risk remains

WTI futures were near $101.64, down $1.63, or 1.58%, in your snapshot.

InvestingLive’s oil coverage pointed to relief after anticipated U.S. strikes on Iran did not materialize over the weekend. The risk of further attacks nevertheless remained a support for prices. investinglive.com

Lower oil offered some relief for inflation concerns. However, oil above $100 remains a meaningful cost pressure for businesses and consumers.

Gold holds higher; Bitcoin slips

Spot gold traded near $4,012.36, up $16.55, or 0.41%. Gold held higher despite the stronger dollar, with the modest decline in longer Treasury yields providing a somewhat more supportive backdrop. investinglive.com

Silver was nearly unchanged at $53.856, up 0.05%.

Bitcoin traded at $79,811, down $237, or 0.30%. It failed to follow the equity rebound, showing that Monday’s improvement in risk appetite did not extend evenly across markets. investinglive.com

The next test is follow-through. Traders have an improving equity tone and lower oil, but also a stronger dollar and substantial expectations surrounding AI. Earnings, the Fed and the market’s willingness to finance the next stage of the AI buildout remain the key themes.