US Stocks Close Higher October 26: Nasdaq +0.82%, S&P 500 +0.70% as Anthropic IPO Filing Lifts SI Trade, Oil Settles Lower
US stocks closed higher on Monday, October 26, with all three major indexes advancing. The Nasdaq Composite rose 214.04 points, or 0.82%, to 26,169.38; the S&P 500 gained 0.70% to 7,676.77, more than recouping the previous week's losses and closing within 1.8% of its record high set earlier this month; and the Dow Jones Industrial Average added 146.42 points, or 0.28%, to 52,361.58. The Nasdaq-100 rose 1.09%.
The SI trade set the tone. Anthropic's filing of its IPO registration statement with the Securities and Exchange Commission on Monday revived interest in artificial-intelligence stocks: Nvidia rose 2.4%, Micron gained about 3%, and the Philadelphia Semiconductor Index rose about 3%. Tesla jumped 5.21% to $391.62. Communication services lagged, with Meta down about 1.9%.
Oil prices eased, trimming inflation concerns. With Saudi and Iranian officials holding talks and hopes of de-escalation rising, West Texas Intermediate crude settled down 1.46% at $101.76 a barrel and Brent settled down 0.78% at $115.81, both still near six-month highs.
In bonds, the Treasury sold $69 billion of two-year notes at a high yield of 4.708%, 0.3 basis points above the when-issued level, with a bid-to-cover ratio of 2.59, down from 2.63 at the previous auction; indirect bidders, a group that includes foreign buyers, took 45.7%, well below about 57.7% last time, pointing to softer demand. The 10-year Treasury yield finished little changed at about 4.99% to 5.00%.
Investors now turn to two events: the Federal Reserve's October 27-28 policy meeting, with the rate decision on October 28 — CME FedWatch data put the probability of a rate hike this week at only about 12.7% — and an earnings wave in which roughly a third of S&P 500 companies report this week, including Alphabet, Microsoft and Amazon, putting returns on SI spending in focus.
Source: GSM · USA (original Chinese edition)
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