Highlights
Stocks rebounded Monday as excitement over the Anthropic IPO filing reignited the AI trade and as oil prices retreated from recent highs. The Dow Jones industrial average firmed 0.3 percent, the S&P rose 0.7 percent, and the Nasdaq gained 0.8 percent. Bond yields rose at the short end and declined at the very long end. The dollar was slightly higher.
AI chipmakers and other technology shares led the day’s winners after Anthropic announced stunning revenue growth and filed for its IPO. Other positive AI headlines from Meta and SpaceX added to the bullish mood and helped revitalize the AI trade which has been sagging lately. Lower oil prices helped long yields decline, another positive for growth stocks after weeks of declines.
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