Stocks rise on Anthropic’s IPO filing; futures little changed as the Fed meets
U.S. stocks closed higher Monday as Anthropic’s IPO filing lifted technology shares, CNBC reported. Stock futures were little changed early Tuesday as the Federal Reserve began a two-day meeting, with a rate decision due Wednesday, Reuters reported. Tuesday’s figures are premarket moves, not closing prices.
Monday’s close: The Dow rose 146.42 points, or 0.3%, the S&P 500 gained 0.7% and the Nasdaq Composite advanced 0.8%, CNBC reported. Tesla rose more than 5%, and Microsoft and Amazon also gained. The AI trade had been under pressure from worries that companies are borrowing too much to fund their AI build-outs, according to CNBC.
Early Tuesday: At 5:17 a.m. ET, Dow futures were up 0.14%, S&P 500 futures 0.05% and Nasdaq 100 futures 0.01%, Reuters reported. In a later update, CNBC reported S&P 500 futures down 0.1% and Nasdaq-100 futures down 0.19%. Whirlpool fell 8.8% before the open after reporting a third-quarter loss, according to Reuters.
The Fed: The Fed is widely expected to hold rates steady on Wednesday after raising them last month, though markets are pricing in at least two more hikes by mid-2027, Reuters reported. “While the Fed views itself above partisan politics, it would be unlikely that the Fed would move rates a week before a national election,” Fundstrat’s Thomas Block wrote, according to CNBC.
Earnings and oil: Coca-Cola, Boeing and PayPal report before Tuesday’s open, and Alphabet, Microsoft and Amazon report later this week, Reuters reported. Brent crude traded near $115.84 a barrel early Tuesday, CNBC reported. These are early figures that can change by the close; this is not investment advice.