Wall Street rises ahead of Big Tech earnings as AI spending takes focus
Wall Street opened higher Monday ahead of quarterly results from major tech companies, with the Dow Jones up 0.71%, the Nasdaq up 0.67%, and the S&P 500 up 0.69% by 14:20 GMT. Investors are focused on earnings from Microsoft, Alphabet, and Amazon this week, seeking reassurance on AI spending and growth prospects. Semiconductor stocks gained on bargain buying, while Anthropic's IPO filing showed first-half revenue of $16.3 billion. Oil prices eased slightly, and the 10-year Treasury yield fell to 4.96%. Markets await the Federal Reserve's meeting Tuesday and Wednesday, with investors expecting a pause. Meta fell 1.83% on its $35 billion AI fundraising plan, and SpaceX dropped 1.56% after announcing $40 billion in debt financing.