AM Markets Need to Know: U.S.-Canada tariff talks, Anthropic IPO, and more

Stock market futures moved in different directions on Tuesday. Investors were preparing for a busy week of economic reports, the Federal Reserve's decision on interest rates, and earnings reports from major technology companies.

Here are five news stories investors should watch:

Apple's foldable iPhone has screen problems: Apple (AAPL) said on Monday that it knew about reports of bright horizontal lines appearing on the inner screens of some $1,999 iPhone Duo devices. The lines were reported to be spreading from the hinge. Apple said customers with affected phones should contact AppleCare to get replacements. This raises early concerns about the phone's reliability, even though many people placed preorders.

Meta increases its $37.5 billion stock offering: Meta Platforms (META) set the terms for an offering that includes $25 billion in Class A common stock and $12.5 billion in depositary shares linked to preferred stock that must be converted into common stock. Meta increased the common stock portion from the previously announced $22.5 billion. It also gave the underwriters 30 days to buy up to 37.5 million more depositary shares to cover demand above the amount offered.

U.S. and Canada discuss lowering steel and auto tariffs: The United States and Canada are discussing possible relief from U.S. tariffs on Canadian steel and cars, Reuters reported on Monday. The talks cover tariffs of up to 50% on steel and 25% on cars. The two countries could reach an agreement before the November 3 elections. Any progress could affect manufacturers and other companies that depend on trade across the border.

Anthropic IPO filing draws more money into ETFs: Exchange-traded funds (ETFs) that own shares in Anthropic (ANT) have seen more money flow in since the AI company filed to go public, according to Eric Balchunas, an ETF analyst at Bloomberg Intelligence. Anthropic filed its registration statement with the Securities and Exchange Commission on Monday. It plans to list on the Nasdaq Global Select Market under the ticker ANT. The filing comes as AI-related stocks have been moving up and down sharply and investors look for ways to invest in Anthropic.

Gold prices fall ahead of the Fed's decision: Gold futures fell on Tuesday after rising on Monday. Lower oil prices eased worries about inflation after gold suffered sharp losses last week. Investors are watching the Federal Reserve's decision on Wednesday. Most expect the Fed to leave rates unchanged after raising them in September. However, markets are also pricing in a strong chance of another rate increase in December. Expectations for interest rates remain an important factor in where gold prices go next.