Wall Street started a packed week on the front foot. Stocks climbed Monday after Anthropic, the artificial-intelligence company behind the Claude chatbot, publicly filed its IPO paperwork, breathing new life into the AI trade after two straight weeks of losses for the major indexes.
The Dow Jones Industrial Average rose 146.42 points, or 0.3%, to close at 52,361.58. The S&P 500 gained 53.11 points, or 0.7%, to 7,676.79, leaving it within about 2% of the record high it set earlier this month. The Nasdaq Composite added 214.04 points, or 0.8%, to finish at 26,169.38. The small-cap Russell 2000 rose about 0.3%.
The filing that moved the market. In its prospectus filed with the Securities and Exchange Commission, Anthropic disclosed $16.29 billion in revenue for the six months ended in June, roughly fourteen times the $1.16 billion it reported for the same period a year earlier. The company plans to list on the Nasdaq under the ticker symbol ANT. For investors asking whether the AI boom is producing real revenue, the filing offered a concrete answer, and they bought the whole supply chain: Nvidia rose 2.4%, Micron gained 3%, Broadcom added 2.3% and AMD climbed 2.8%. Intel jumped 4.1% after New Street Research upgraded the stock to Buy with a $125 price target, arguing that a shortage of server processors could persist for years. AI infrastructure provider CoreWeave rose 1.8%.
Tesla’s big day. The standout among the market’s biggest names was Tesla, which surged 5.2% to $391.62, its highest close in more than three months. Barclays upgraded the stock to Overweight and raised its price target to $450 from $370, arguing that a potential combination with SpaceX could deliver a premium to shareholders while Tesla’s robotaxi business gains momentum. Elon Musk said over the weekend that SpaceX has closed a $40 billion debt deal for AI chips.
The losers told their own story. Meta fell 1.9% after saying it plans to raise $95 billion to fund its AI investments, a reminder of what the buildout is costing even its biggest backers. Alphabet slipped 1.1% ahead of its earnings report later this week. Netflix dropped 3% to a 52-week low, extending a post-earnings slide as investors weighed slowing viewer engagement and a softer advertising outlook. Coinbase fell 3%. The communication services sector, home to Meta, Alphabet and Netflix, was the day’s worst-performing group and touched a 52-week low of its own.
Oil, gold, bonds and the dollar. Oil gave back part of Friday’s surge after U.S. Central Command said American forces have helped Gulf partners export more than 1.5 billion barrels of crude since the summer, with over 3,000 commercial vessels passing through the Strait of Hormuz in the past six months, easing fears of supply disruptions. West Texas Intermediate settled down 1.5% at $101.76 a barrel, while Brent settled at $115.81, down 0.8%. Gold settled up 0.8% at $4,038.40 an ounce. The 10-year Treasury yield held just under 5%, little changed at about 4.98%, and the dollar index rose 0.2% to 102.00.
Why it matters for you. Days like this decide whether retirement accounts recover from a rough stretch or sink further, and Monday’s gain clawed back a piece of last week’s losses. The AI buildout behind the rally is also reaching everyday life, from electricity bills to hiring plans, and the price of oil, which came off its highs Monday, feeds directly into what drivers pay at the pump and what businesses pay to ship goods.
What to watch next. The week’s main event lands Wednesday, when the Federal Reserve announces its latest interest-rate decision. The central bank is widely expected to hold rates steady, so the language of its statement on inflation will get the closest read. Earnings season hits full stride Tuesday with more than a hundred companies reporting, and the biggest names follow the Fed: Microsoft and Alphabet report after the closing bell Wednesday, Amazon reports Thursday evening, and Apple caps the run early next week.
JBizNews Desk | Wall Street
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