Wall Street Rallies as Anthropic IPO Filing Lifts Tech Stocks

Wall Street rallied Monday as AI developer Anthropic filed for a US IPO, lifting semiconductor and tech stocks. The Dow rose 0.3 percent, while the S&P 500 and Nasdaq gained 0.7 and 0.8 percent, ending a two-week losing streak. Anthropic's filing showed high losses but rapid revenue growth, renewing optimism in the tech sector after recent concerns over investment costs and rising rates. Semiconductor stocks led gains, with the Philadelphia SE index up 2.8 percent, while Meta fell 1.9 percent on plans to raise up to $95 billion. Investors now await a busy week, with earnings from Alphabet, Microsoft, and Amazon, plus the Fed's rate decision Wednesday. Markets see only a 13 percent chance of a hike, though persistent inflation suggests rates may stay elevated.