US stocks closed higher on October 26, 2026, with the S&P 500 and Nasdaq advancing after two consecutive weekly declines. Anthropic’s proposed initial public offering put artificial intelligence spending back in focus, while investors prepared for the Federal Reserve’s policy decision and a busy week of corporate earnings.
Key Takeaways
- The Nasdaq led the three major US benchmarks, gaining 0.83%.
- Anthropic filed for a proposed Nasdaq listing, but its offering size and price range remain undetermined.
- The Fed’s October 28 decision and major technology earnings are the next scheduled tests for markets.
US stocks advance, with chip shares outperforming
All three major benchmarks finished Monday higher. Semiconductor shares posted a larger advance, although the Philadelphia semiconductor index remained nearly 12% lower for October despite the day’s roughly 3% gain.
Among AI-related companies, CoreWeave erased earlier declines, while Lumentum and Coherent were among the stronger S&P 500 performers. The recovery did not erase the broader sector’s recent weakness.
Tesla reached its highest intraday level in more than three months after Barclays upgraded the stock to overweight from equal weight. That milestone describes its trading during the session, rather than a closing-price record.
| Item | Details |
|---|---|
| S&P 500 | Up 0.70% at the October 26 close. |
| Nasdaq | Up 0.83% at the October 26 close. |
| Dow Jones Industrial Average | Up 0.28% at the October 26 close. |
| Philadelphia semiconductor index | Gained about 3% during the session. |
Anthropic’s filing renews scrutiny of AI investment
Anthropic’s announcement of its proposed IPO confirms that it filed a Form S-1 with the Securities and Exchange Commission and intends to list Class A common stock on the Nasdaq Global Select Market under ANT. The number of shares and the offering’s price range have not been determined.
The registration statement has not yet become effective. The filing therefore marks a step toward a potential listing, not a completed offering or an established public-market valuation.
The company disclosed steep losses alongside rapid revenue growth, highlighting the cost of developing increasingly powerful AI systems. JP Powers, chief investment officer at RWA Wealth Partners, described investor sentiment as more optimistic following the release, while cautioning that the eventual listing’s reception remained uncertain.
Fed decision and technology earnings come next
The Federal Reserve is scheduled to announce its policy decision on Wednesday, October 28. CME FedWatch showed a 12.7% probability of a rate increase in the supplied market snapshot; that figure represents market pricing, not a commitment by policymakers.
More than a third of S&P 500 companies are scheduled to report earnings during the week, including Alphabet, Microsoft and Amazon. Their results will give investors further information on growth and the financial consequences of heavy AI investment.
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Disclaimer
This FinanceVelix article provides general information, not personalized financial, investment, legal, or tax advice. Market prices, interest rates and economic conditions can change; investments carry a risk of loss. Facts reflect the material available when published and may change. Check important information independently and consult a qualified professional when needed. Mentioning an asset, company, or service is not an endorsement.
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