Anthropic IPO filing in focus; Boeing to report - what’s moving markets
Investing.com - Futures tied to the main U.S. stock market indexes point to a mostly lower start after a major filing by Anthropic for a possible initial public offering (IPO) helped stocks rise in the previous session. Chip stocks climbed after the filing was released, partly because Anthropic's revenue grew sharply in the first half of the year. Boeing is set to report its results before the market opens, as many companies release their earnings. Voters in Israel are heading to the polls for an important election, while new diplomatic efforts aim to reduce tensions in the Middle East.
1. Futures slip
U.S. stock futures changed little overall on Tuesday. Anthropic's filing for a possible record-setting IPO has renewed confidence in the AI boom, which had recently weakened. At the same time, traders are getting ready for many company earnings reports and the start of the Federal Reserve's latest two-day meeting on interest rates.
At 03:56 ET (07:56 GMT), futures tied to the S&P 500 had fallen by 11 points, or 0.1%. Nasdaq futures were down 125 points, or 0.4%, while Dow futures were almost unchanged.
All three major Wall Street indexes rose in the previous session. The technology-heavy Nasdaq Composite led the way, gaining 0.83%. The S&P 500 rose 0.7%, and the Dow Jones Industrial Average, which tracks major blue-chip companies, gained 0.3%.
It is an especially busy week for traders. Even without the large amount of information in Anthropic's filing, markets were already preparing for results from several major technology companies in the coming days. Investors also expect the Fed to leave interest rates unchanged.
Politics is also making markets harder to predict. Brazilian stocks fell after the country's current president, Luiz Inacio Lula da Silva, unexpectedly won re-election. Investors worried that Brazil's already difficult government finances could get worse. Another important vote is taking place in Israel today, and the U.S. midterm elections are just one week away.
2. Chip stocks rise as Anthropic filing renews interest in AI
Semiconductor stocks and companies linked to artificial intelligence (AI) were among the strongest performers on Monday. A major reason was Anthropic's filing, which was released before U.S. markets opened.
The iShares Semiconductor ETF rose almost 3%, while the Philadelphia Semiconductor Index gained 2.82%. Shares of Nvidia, Broadcom, Advanced Micro Devices and Micron also finished higher.
Anthropic's roughly 400-page filing showed that its revenue grew by 1,304% to $1.16 billion in the six months ending in June. It also revealed the big plans of the company behind the popular Claude chatbot. Analysts have said the San Francisco-based company, which is not yet making a profit, could go public as soon as next month. Some reports suggest it could be valued at between $1.5 trillion and $2 trillion.
Anthropic listed many possible risks, including the chance that AI systems could escape human control and that the company might not be able to get enough insurance to cover the costs of a possible AI-related disaster. Even so, the filing gave new support to interest in AI investments, which had recently weakened. It especially helped calm worries about whether huge amounts of borrowed money spent on AI infrastructure could be justified. Those worries had caused sharp swings in technology stocks the previous week.
"A successful listing could also encourage more AI companies to test the public markets, accelerate broader IPO momentum, and reinforce the view that the AI trade still has room to run," analysts at Evercore ISI said in a note.
Other news also helped lift confidence. Meta Platforms, the company that owns Facebook, said it plans to raise $95 billion to support its AI goals. SpaceX CEO Elon Musk also revealed that the rocket company had secured a $40 billion debt agreement to obtain AI chips.
3. Boeing to report
Boeing's earnings report is expected to be a major focus before U.S. markets open later today.
During the third quarter, the aircraft maker scored several important wins. These included winning a U.S. Navy contract for its sixth-generation F/A-XX fighter and getting certification for the final two versions of its 737 MAX aircraft. Boeing also delivered 363 737 MAX planes in the first nine months of 2026, the fastest rate in the company's history.
However, analysts on Wall Street expect Boeing to report a loss of $0.21 per share, based on estimates from LSEG cited by Reuters. Investors are expected to focus less on the company's recent wins and more on its free cash flow and plans to build new defense production facilities, Reuters reported.
Other companies reporting quarterly results before the market opens include food and drink maker Coca-Cola and manufacturing company Corning. After the market closes, Visa and Seagate Technology are among the major companies due to report.
4. Israeli elections ahead
Israel will hold parliamentary elections on Tuesday. These are the country's first elections since Hamas carried out its October 7, 2023 attack, the deadliest day in Israel's history. Much of the debate before the vote has focused on Prime Minister Benjamin Netanyahu's leadership following the attack.
The election could have major consequences for Israel, including its national security and its standing in the world. Investors are also unsure how the result could affect the ongoing war involving the U.S. and Israel against Iran, which has now entered its eighth month.
Gadi Eisenkot, who is running against Netanyahu, has accused Israel's longest-serving prime minister of offering "eternal war." Netanyahu's supporters, however, have praised his forceful attacks on Iran, Hamas and Hezbollah in Lebanon.
5. Oil prices move up and down
Oil prices rose in uneven trading as investors weighed diplomatic efforts to reduce tensions in the war involving the U.S., Israel and Iran. These efforts eased fears that the conflict could spread further across the region.
At 03:52 ET, Brent crude futures, the main international oil benchmark, had risen 0.4% to $116.28 per barrel. U.S. West Texas Intermediate (WTI) crude futures gained 0.5% to $102.24 per barrel.
Oil prices had fallen on Monday. The previous week, Brent prices reached their highest level in six months because investors feared further attacks on energy facilities and commercial ships in the Middle East.
The latest diplomatic efforts have focused on talks involving Iran, Saudi Arabia, Turkey and Pakistan. Officials from Qatar have also been talking with Tehran in an effort to stop the conflict from spreading.
Senior officials from Saudi Arabia, Turkey and Pakistan met Iranian leaders in Tehran on Monday. They were trying to lower tensions across the region and create opportunities for negotiations.
(Reuters contributed reporting)
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