US Futures Hold Steady
US equity futures were steady on Tuesday, holding the rebound from yesterday following fresh details on Anthropic's IPO as markets await October's CPI data. Contracts for the S&P 500 were flat while the Dow gained 0.4% and the Nasdaq 100 inched lower. Anthropic is due to start trading on the Nasdaq by next week, raising up to $90 billion at a valuation of around $1 trillion in what would be the largest IPO in history. The move attempts to take advantage of the market's demand for AI companies before recent signs of skepticism about whether capital expenditures were overdone could worsen this month's correction. Chip and AI services stocks were sharply higher for the week. Meanwhile, US consumer prices are expected to have risen 0.3% in October, consolidating bets on a Federal Reserve rate hike next month. Still, the recent drop in energy prices limited bets on multiple hikes next year, aiding fixed-income assets and lifting banks premarket. JPMorgan and Citigroup were 1% higher.
US equity futures were steady on Tuesday, holding the rebound from yesterday following fresh details on Anthropic's IPO as markets await October's CPI data. Contracts for the S&P 500 were flat while the Dow gained 0.4% and the Nasdaq 100 inched lower. Anthropic is due to start trading on the Nasdaq by next week, raising up to $90 billion at a valuation of around $1 trillion in what would be the largest IPO in history. The move attempts to take advantage of the market's demand for AI companies before recent signs of skepticism about whether capital expenditures were overdone could worsen this month's correction.
Chip and AI services stocks were sharply higher for the week. Meanwhile, US consumer prices are expected to have risen 0.3% in October, consolidating bets on a Federal Reserve rate hike next month. Still, the recent drop in energy prices limited bets on multiple hikes next year, aiding fixed-income assets and lifting banks premarket. JPMorgan and Citigroup were 1% higher.