![U.S. Market Close data snapshot for 2026-10-26: Dow Jones Industrial Average 52,361.58 (+0.28%), S&P 500 7,676.77 (+0.70%), Nasdaq Composite 26,169.38 (+0.82%), biggest moves we track Lumentum (+8.19%), Tesla (+5.21%), Intel (+4.04%) [en].](https://fermata.it.kr/wp-content/uploads/2026/10/us_2026-10-26_editorial_en-6446fdc1da12.png)
Anthropic's IPO Filing Lifts the Nasdaq 0.82%: Will the AI Bid Last?
Nasdaq Leads as Anthropic's IPO Filing Lifts AI Stocks
Wall Street started the week higher. The S&P 500 and Nasdaq Composite, both coming off a second straight weekly loss, rose together, and the catalyst was Anthropic making its IPO filing public.
The filing showed first-half revenue of $16.3 billion, more than three times the $4.6 billion for all of 2025. For a market worried about AI spending, it was a hard number showing demand is real.
Checking Friday's Three Watch Points
Two of the three watch points set on Friday held. The semiconductor ETF stayed above $478.20 and closed at $491.83, and WTI stayed above $100 at $101.76.
The 10-year yield finished at 4.99%, short of 5%. Oil and rates did not tighten together, and AI-linked stocks rebounded first.
Anthropic's Filing Pulled AI Stocks Higher
According to Yahoo Finance, Anthropic plans to list on the Nasdaq under the ticker ANT, with timing reported as mid-November. The same filing disclosed $9 billion of AI infrastructure spending, so it showed demand and cost together.
Investing.com reported a first-half net loss of $80.7 billion, about $72 billion of it a non-cash accounting charge. The market reacted to revenue growth first.
Beginner note: an S-1 is the registration statement a company files before going public. It carries revenue, losses and risk factors, which makes it nearly the only look inside a company before its listing.
Chip ETF Gains 2.85%
The Philadelphia semiconductor ETF closed at $491.83, up 2.85%. Micron rose 2.98%, Nvidia 2.39%, AMD 2.80% and Broadcom 2.33%, so the gains were broad.
Reuters reported that Wall Street banks and Blackstone are lining up $63 billion to finance Broadcom’s AI chip business. That is from the headline only, so size and terms need more confirmation.
Lumentum Rises 8.19% on StoneX Buy Rating
Among the stocks we follow, the largest move was optical-parts maker Lumentum. StoneX started coverage with a Buy rating and a $1,200 price target, and the shares rose 8.19% to close at $818.10.
The target is about 47% above the close. Still, a stock that jumps this much in a day can give it back quickly if the catalyst fades. Dollar volume was roughly $4.9 billion, near the top of the day’s list.
Tesla and Intel Get Upgrades
Tesla rose 5.21%. Barclays upgraded it to Overweight with a $450 price target, and analyst Dan Levy cited a possible combination with SpaceX and robotaxi growth.
Intel rose 4.04% after New Street Research moved it from Neutral to Buy ahead of earnings on the 29th. Both upgrades are forecasts, not results yet.
Meta Falls 1.88% on Its Funding Plan
Meta said it plans to raise up to $95 billion for AI infrastructure, starting with $35 billion in common and preferred stock. CNBC reported that Nvidia, AMD and Broadcom signaled they might buy up to $5 billion of it.
Issuing stock dilutes existing holders, which weighs on the price. Meta fell 1.88% while Microsoft rose 1.54% to $532.60. Microsoft was reported to be offering voluntary buyouts to about 60,000 employees.
Oil Holds Above $100
WTI fell 1.46% but still settled at $101.76. Yahoo Finance tied the move to a visit by Saudi Arabia’s defense minister to Tehran, and Brent was near $110.
Slightly lower oil revived risk appetite. Still, oil above $100 has been a weight for three weeks, so one down day does not change direction.
Yields, Gold and the VIX
The 10-year yield was 4.99% and the 30-year 5.30%. The VIX fell 5.45% to 18.39, a step down in anxiety.
Gold rose 0.76% to $4,038.40 an ounce. Gold rising on a risk-on day suggests the market leans toward yields not rising further.
This Week's Earnings and the Fed
The Fed meets for two days starting Tuesday and decides Wednesday afternoon. According to Yahoo Finance, markets widely expect a hold, and former Fed vice chair Alan Blinder expects a hawkish pause.
Microsoft and Alphabet report after the close on Wednesday, followed by Amazon, Intel and Coinbase on Thursday. The test this week is whether today’s AI rally gets an answer on spending.
What It Means for Tuesday's Korean Session
Korea’s market on Tuesday morning is worth watching first in memory and chips. Micron rose 2.98% and SanDisk 1.42%, and the chip ETF rose 2.85%, so large chipmakers could pick up the same direction.
But worries about AI spending, such as Meta’s funding plan, came the same day. It is safer to check whether foreign investors buy Korean chip stocks as they rise.
What to Watch Next
First, whether the semiconductor ETF holds above $491.83. Second, whether WTI settles above $100 or jumps again. Third, whether the 10-year yield goes above 5%, and whether Wednesday’s Fed decision and Microsoft and Alphabet earnings ease the debate over AI spending.
What We Learned Today
Micron Trades at 4.4 Times Next Year's Earnings
On Yahoo Finance consensus, Micron trades at 4.4 times expected earnings for next year, and analysts’ average target is 72.8% above the price. Nvidia is at 13.6 times with 52.3% to its target.
Beginner note: the forward P/E divides the share price by expected earnings for the coming year. A low number means a low price against earnings, though memory profits swing so much that a low multiple cannot be read straight as undervalued.
Intel, by contrast, trades at 42.2 times and sits 36.4% below its 52-week high. The multiple is high even after the drop, so the market has priced in much of Intel’s earnings recovery.
| Micron | Forward P/E 4.4x, +72.8% to target |
| Nvidia | Forward P/E 13.6x, +52.3% to target |
| Intel | Forward P/E 42.2x, +30.1% to target |
Coatue Bought Micron and Intel at the End of June
In 13F filings as of June 30, Coatue Management added 2.98 million Micron shares, a rise of more than 17 times, and newly bought 12.08 million Intel shares and 18.56 million SpaceX shares. Berkshire Hathaway raised its Alphabet Class A stake by 45% and Class C by 658%.
13F filings come out 45 days after quarter end, so they show last quarter, not current positions. Still, it is worth noting that Micron and Intel, both up today, were names a large fund added a quarter earlier.
| Coatue (Micron) | +2,976,338 shares |
| Coatue (Intel) | +12,084,027 shares (new) |
| Berkshire (Alphabet A) | +24,541,369 shares (+45%) |
Fermata’s Take
We read today’s gain as one day of less worry about AI demand, not a change of trend. Anthropic’s first-half revenue of $16.3 billion was more than three times last year’s, but Meta also said it would raise up to $95 billion on the same day the Nasdaq rose 0.82%. Demand and cost were both confirmed. So before Wednesday’s Fed decision and the Microsoft and Alphabet earnings, our principle is not to chase today’s winners, and to watch whether the semiconductor ETF holds above $491.83 and WTI settles above $100 before changing our view.
Check · 2026-10-28 — Whether the semiconductor ETF (SOXX) holds above today's $491.83 close, whether WTI settles above $100, and whether the US 10-year yield goes above 5%, using closes before the Fed decision.
Sources
- Yahoo Finance Stock market today: Dow, S&P 500, Nasdaq gain as Anthropic IPO buzz reignites AI trade ahead of busy tech earnings week
- Investing.com Anthropic files for Nasdaq IPO as revenue jumps to $16.3 billion
- CNBC Meta launches plan for $95 billion stock offering to fund AI expansion
- Yahoo Finance Meta announces plans to raise up to $95 billion for AI build-out
- Investing.com U.S. stocks higher at close of trade; Dow Jones Industrial Average up 0.29%
Drafted with AI assistance and reviewed by KimHui.