US Market Wrap 26 October: Stocks Rise as Anthropic’s IPO Filing Lifts the AI Trade
All five US indices closed higher on Monday. The Nasdaq 100 rose 1.09 percent, the Nasdaq Composite 0.82 percent and the S&P 500 0.70 percent, as Reuters reported Anthropic’s filing for an initial public offering helped boost sentiment in AI-related stocks at the start of a week packed with the Federal Reserve’s decision, growth and inflation readings and the hyperscalers’ earnings. The VIX fell 5.45 percent to 18.39. Brent crude settled at 115.81 dollars a barrel, 0.78 percent below Friday on our calculation from the settlement as carried in CNBC’s settlement report.
The AI Trade Turns on a Filing
The S&P 500 closed 53.09 points higher at 7,676.77 and the Dow Jones Industrial Average added 146.42 points to 52,361.58, with the S&P 500 and the Nasdaq Composite, at 26,169.38, each snapping two straight declines, the Nasdaq 100’s 1.09 percent rise to 29,273.41 doing the same, and the Dow and the Russell 2000, 0.38 percent higher at 2,786.42, each rebounding after one decline; the Nasdaq Composite’s change is 0.82 percent on our calculation from the published close and change, where the feed and the wire carry 0.83. The wire reported that Anthropic disclosed steep losses and red-hot revenue growth in its filing, that the Philadelphia chips index rose 2.8 percent on the day while still down 12.2 percent on the month, and that photonic product makers Lumentum and Coherent, up about 8 and 6 percent by its reckoning, were among the best-performing S&P 500 stocks. Tesla jumped 5.2 percent to its highest close in more than three months after Barclays upgraded the stock, while Meta closed 1.9 percent lower after saying it plans to raise up to 95 billion dollars in equity for its AI build-out, both per the same report. Technology led the sectors with a 1.50 percent rise and communication services fell 1.42 percent, a fifth straight decline on our count against our published closes, with industrials up 1.40 percent and consumer discretionary 1.11 percent, seven of the eleven sectors higher.
The 10-Year Yield Holds at 5 Percent Ahead of the Fed
The 10-year Treasury yield held at 5.00 percent. The 2-year eased a basis point to 4.68 and the 30-year slipped two to 5.31, while the 6-month rose five to 4.35, the 1-year three and the 3-year four, leaving the 2s10s gap at 32 basis points, one wider on our arithmetic. Reuters reported that markets price only a 12.7 percent chance of a rate rise at Wednesday’s meeting, citing CME FedWatch, and that more than a third of S&P 500 companies report this week, including Alphabet, Microsoft and Amazon. Advancing issues outnumbered decliners 1.36 to 1 on the New York Stock Exchange in the same report, on volume of 16.7 billion shares against a 17.2 billion 20-day average.
Strongest gains
| Index | Close | Change |
|---|---|---|
| Nasdaq 100 | 29,273.41 | +1.09% |
| Nasdaq Composite | 26,169.38 | +0.82% |
| S&P 500 | 7,676.77 | +0.70% |
All five indices closed higher, so the pair of tables splits today as the strongest and the shallowest gains, with the reason disclosed here. Closes of Monday 26 October from CNBC’s feed at 21:01 GMT, ranked by change on the unrounded values against Friday’s closes as published; the three majors’ closes are as printed in Reuters’ closing report, and the Nasdaq Composite’s percent is our calculation from the published close and change, where the feed and the wire carry 0.83. Run lengths are counted against our published closes.
Shallowest gains
| Index | Close | Change |
|---|---|---|
| Dow Jones Industrial Average | 52,361.58 | +0.28% |
| Russell 2000 | 2,786.42 | +0.38% |
Shallowest gains, same session and basis, ranked from the shallowest.
S&P 500 sectors
| Sector | Close | Change |
|---|---|---|
| Technology | 6,996.43 | +1.50% |
| Industrials | 1,412.96 | +1.40% |
| Consumer discretionary | 1,880.22 | +1.11% |
| Utilities | 432.37 | -0.02% |
| Consumer staples | 985.72 | -0.13% |
| Communication services | 429.60 | -1.42% |
The three strongest and three weakest of the eleven sectors, CNBC’s feed at 21:01 GMT, against Friday’s closes, ranked on the unrounded values; seven of the eleven rose; omitted middle: real estate +0.53 percent at 272.84, energy +0.50 at 1,071.17, financials +0.21 at 931.95, materials +0.15 at 645.84, health care -0.01 at 2,089.41.
Treasury par yield curve
| Maturity | Yield | Change |
|---|---|---|
| 3-month | 4.22% | unchanged |
| 2-year | 4.68% | -1 bp |
| 10-year | 5.00% | unchanged |
| 30-year | 5.31% | -2 bp |
The Treasury’s daily par yields for 26 October against 23 October; omitted maturities: 1-month 4.11 unchanged, 6-month 4.35 up 5, 1-year 4.47 up 3, 3-year 4.79 up 4, 5-year 4.84 up 2, 7-year 4.91 up 2, 20-year 5.35 down 2. The 2s10s gap of 32 basis points, one wider, is our arithmetic.
Commodities
| Contract | Level | Change |
|---|---|---|
| Brent Crude, ICE (Dec’26), dollars a barrel | 115.81 | -0.78% |
| WTI Crude, NYMEX (Dec’26), dollars a barrel | 101.76 | -1.46% |
| Gold, COMEX (Dec’26), dollars an ounce | 4,029.30 | +0.53% |
| Silver, COMEX (Dec’26), dollars an ounce | 54.02 | +0.12% |
The crude rows are the day’s settlements as carried in CNBC’s settlement report, with the changes our calculation against Friday’s settlements; the gold and silver rows are the feed at 21:03 GMT, snapshots against Friday’s settlements, ahead of our commodities wrap’s settlements update tonight.
Currencies, volatility and crypto
| Instrument | Level | Change |
|---|---|---|
| VIX | 18.39 | -5.45% |
| Bitcoin | 79,872.89 | -0.75% |
| US Dollar Index (DXY) | 102.01 | +0.19% |
| Euro/Dollar | 1.1175 | +0.03% |
| Sterling/Dollar | 1.3339 | 0.00% |
| Dollar/Yen | 157.51 | +0.01% |
Intraday quotes at 21:01 GMT, in fixed order; the VIX row is the session’s last value on the feed; snapshots, not settlements; the currency, dollar-index and bitcoin rows are measured against the feed’s previous reference levels.
Asia, session of Monday 26 October
| Index | Close | Change |
|---|---|---|
| Nifty 50 (India) | 22,753.20 | +0.68% |
| Hang Seng (Hong Kong) | 23,211.81 | +0.51% |
| Shanghai Composite (China) | 3,697.52 | +0.19% |
| Topix (Japan) | 3,972.98 | +0.18% |
| S&P/ASX 200 (Australia) | 8,809.90 | +0.17% |
| Kospi (South Korea) | 5,469.47 | -1.46% |
| Shenzhen Component (China) | 11,534.38 | -1.19% |
| Nikkei 225 (Japan) | 62,189.65 | -0.80% |
| Straits Times (Singapore) | 5,415.91 | -0.12% |
Carried whole from our Asia Market Wrap of Monday 26 October 2026, gainers then losers; Taipei did not trade, by the Taiwan Stock Exchange’s adjusted holiday, and the Nifty 50 row is measured against the exchange’s own Friday close, which that edition’s note states.
Middle East, session of Monday 26 October
| Index | Close | Change |
|---|---|---|
| Tadawul All Share (Saudi Arabia) | 9,761.78 | +3.43% |
| QE Index (Qatar) | 8,852.29 | +2.75% |
| Boursa Kuwait All-Share (Kuwait) | 8,492.80 | +1.96% |
| MSX 30 (Oman) | 7,357.821 | +1.09% |
| ASE Index (Jordan) | 4,150.16 | +0.79% |
| FTSE ADX General (Abu Dhabi) | 9,640.79 | +0.55% |
| DFM General (Dubai) | 5,751.72 | +0.31% |
| EGX 30 (Egypt) | 48,416.94 | -1.66% |
| Bahrain All Share (Bahrain) | 1,845.66 | -0.15% |
Carried whole from our Middle East Market Wrap of Monday 26 October 2026, gainers then losers; seven of the nine markets rose that session.
Europe, session of Monday 26 October
| Index | Close | Change |
|---|---|---|
| FTSE MIB (Italy) | 49,186.81 | +1.29% |
| DAX (Germany) | 25,410.84 | +0.91% |
| CAC 40 (France) | 7,847.32 | +0.83% |
| Euro Stoxx 50 (euro area) | 6,116.23 | +0.79% |
| Stoxx Europe 600 (Europe) | 640.66 | +0.77% |
| FTSE 100 (UK) | 10,767.33 | +0.72% |
| SMI (Switzerland) | 14,538.95 | +0.53% |
| IBEX 35 (Spain) | 19,033.30 | +0.23% |
| AEX (Netherlands) | 1,133.19 | +0.14% |
Carried whole from our Europe Market Wrap of Monday 26 October 2026; all nine indices carried rose that session, and the rows run from the strongest gain to the shallowest.
Why it matters: One filing reset the week’s mood. Friday’s five-for-five decline became Monday’s five-for-five rise, the VIX fell back to 18.39, and the rebound ran around the clock, from Riyadh and the Gulf through Europe’s nine indices to New York. The split underneath was narrower than the headline: communication services fell a fifth straight session on our count, with Meta’s 95-billion-dollar equity plan inside it, and the wire’s breadth figures show advancers ahead only 1.36 to 1, so the day leaned on the AI complex rather than the whole list. The 10-year held at 5.00 percent into Wednesday’s decision, and across everything we published today, the Tadawul All Share’s 3.43 percent rise was the best close and the EGX 30’s 1.66 percent fall the worst.
Outlook: The Federal Reserve decides on Wednesday 28 October, on the meeting dates its own calendar confirms, with Reuters reporting a 12.7 percent market-priced chance of a rise via CME FedWatch; the advance GDP estimate and September PCE follow on Thursday and the employment cost index on Friday, on the agencies’ own schedules, and Alphabet, Microsoft and Amazon report during the week. The commodities wrap returns tonight with the session’s settlements.
How these wraps are prepared: Methodology.
Sources: US Department of the Treasury, Reuters, CNBC, The Edge.
