U.S. equities climbed on Oct. 27 as semiconductor stocks led a technology rally, while a return to net inflows for spot Bitcoin ETFs helped Bitcoin hold above $80,000. The session was shaped by reports of Anthropic’s proposed Nasdaq listing, upcoming earnings from major technology companies, and a Federal Reserve meeting that was expected to leave interest rates unchanged.
The Philadelphia Semiconductor Index rose 3.6% to 11,482.50, outperforming the broader market. The Nasdaq Composite gained 1.18%, its strongest session in nearly a month, while the S&P 500 added 0.60%. The Dow Jones Industrial Average was nearly flat, rising 0.03%.
The split between the Dow and technology-heavy indexes reflected concentrated demand for chipmakers and large-cap companies tied to artificial intelligence spending. Semiconductor shares have become a focal point for equity markets as companies build data-center capacity for AI models, increasing demand for advanced processors, memory, and networking equipment.
Anthropic filing lifts focus on ai valuations
The move followed an S-1 registration filing by AI developer Anthropic with the U.S. Securities and Exchange Commission, according to the supplied filing details. Anthropic plans to seek a Nasdaq listing under the ticker “ANT,” with Goldman Sachs and Morgan Stanley named as lead underwriters.
The filing described a potential valuation range of $1.5 trillion to $2 trillion and targeted the week of Nov. 16 for a listing. It also reported $16.3 billion in first-half revenue, a 1,258% increase from a year earlier, alongside the company’s first quarter of positive operating profit.
Anthropic disclosed a net revenue retention rate of roughly 900%, a measure showing how spending by existing customers changes over time. Such a figure points to sharply rising use among its customer base, although the durability of that growth would depend on enterprise demand and the substantial cost of operating large AI systems.
A successful listing at the proposed scale would place another major AI company at the center of public-market trading. It would also give markets a new reference point for valuations across chip suppliers, cloud providers, and software groups that generate revenue from AI infrastructure and services.
Chipmakers and mega-cap technology shares advance
Several leading technology names rose alongside the semiconductor index. Nvidia gained 2.4% on Oct. 26, Broadcom rose 2.3%, Micron added 3%, and Microsoft increased 1.5%, according to the market figures provided.
Nvidia closed that session at $216.00 and traded at $217.94 after hours, up 0.90%. Microsoft ended at $532.60 before slipping 0.24% to $531.33 in late trading.
Earnings from Microsoft and Alphabet were scheduled after the market close on Oct. 28. Their reports were set to offer a closer look at whether spending on cloud infrastructure and AI services is translating into revenue growth quickly enough to support elevated technology valuations.
Alphabet closed Oct. 26 at $316.80 and traded at $320.58 after hours, a 1.19% increase. Apple rose 0.93% in after-hours trading to $347.10 after closing at $343.91. Meta Platforms moved in the other direction, falling 1.64% to $620.19 in late trading after a $630.56 close.
The market’s response to those results could extend beyond individual stocks. Large technology companies are among the biggest purchasers of AI hardware, making their capital-expenditure plans relevant for semiconductor producers and the broader risk appetite that often influences crypto-linked equities.
Fed meeting and oil pullback shape the macro backdrop
The Federal Reserve began its Oct. 27-28 meeting with its policy decision due at 2:00 a.m. Beijing time on Oct. 29. The federal funds target range stood at 3.75% to 4.00%, and a survey of 94 economists expected no change at the meeting.
September’s U.S. consumer price index rose 3.7% from a year earlier, compared with 3.4% in August. The acceleration in inflation kept attention on the Fed’s language around future policy, including market discussion of a possible 25-basis-point adjustment in December.
Energy prices offered a partial offset to inflation concerns. WTI crude slipped below $100 a barrel after reaching a six-month high, following talks between Iran and Oman on a framework related to navigation through the Strait of Hormuz.
The International Energy Agency projected that global oil demand in the fourth quarter would decline by 2.5 million barrels per day from a year earlier. It forecast a 2.6 million-barrel-per-day drop in average demand for the full year, which it described as the first annual decline since 2009. A sustained retreat in oil prices could ease pressure on headline inflation, though central-bank policy will also depend on services prices, labor-market data, and inflation expectations.
Bitcoin etf inflows resume as Bitcoin holds $80,000
U.S. spot Bitcoin ETFs recorded net inflows of $110 million on Oct. 26, reversing the prior week’s net outflows. BlackRock’s IBIT accounted for $110.3 million of the day’s inflow, according to the ETF flow figures supplied.
IBIT held about 814,263 Bitcoin and had attracted cumulative net inflows of $66.244 billion. Across U.S. spot Bitcoin ETFs, total net asset value stood near $102.840 billion, equivalent to approximately 6.41% of Bitcoin’s total market value. Cumulative net inflows across the products were reported at $57.293 billion.
Bitcoin traded near $80,777 after recovering from an intraday low around $79,830. The return of positive ETF flows provided a constructive demand signal, but one day of inflows offers limited evidence of a durable trend. The products had just emerged from a week of net redemptions, leaving daily flow data sensitive to shifts in broader market sentiment.
Spot Ether ETFs drew $16.10 million in net inflows on Oct. 26, while Solana ETFs posted $8.20 million in net outflows.
Strategy pauses Bitcoin purchases as index rules draw attention
Strategy reported holding 848,517 Bitcoin as of Oct. 25, acquired at a total cost near $64.02 billion, or an average price of roughly $75,446 per coin. The company said it made no Bitcoin purchases or sales during the Oct. 19-25 week and issued no stock through its at-the-market program.
Instead, Strategy used about $205 million to repurchase 2,068,459 shares of its STRC series perpetual preferred stock. It projected a non-cash digital-asset fair-value gain of about $20.9 billion for the third quarter.
Strategy shares closed Oct. 26 at $139.82, down 4.24% from the Oct. 23 close, before rising 1.13% in after-hours trading to $141.40. Mining-related stocks also moved higher after the regular session, with RIOT and CIFR cited as gaining about 10% or more and MARA rising more than 3%.
MSCI’s Oct. 15 update to its index rules added another variable for companies that hold digital assets as a central treasury strategy. The index provider said firms classified as digital-asset treasury companies may be excluded under the revised rules, though no implementation date or specific removals had been confirmed in the material provided.
Interested in how Fed policy and tariffs move both Wall Street and crypto? Explore our latest insights in this analysis.
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