On October 27, the Nasdaq Composite rose 1.14% to close at 26,467.06, driven by a rally in semiconductor stocks and AI optimism. Broadcom shares climbed as investors assessed Anthropic's IPO filing, while the technology sector led overall market gains. Easing crude oil prices further supported investor sentiment by reducing inflation concerns ahead of the Federal Reserve's interest-rate decision. Additionally, the Federal Reserve began its two-day meeting with markets widely expecting rates to remain unchanged.
Chip stocks extended the rally for a third session, while transportation equipment led gains in U.S. durable-goods orders and markets awaited Wednesday’s rate decision.
Read the full storyThe structure links the purchase of Broadcom accelerators and networking equipment with their lease to Anthropic, while the company’s filing shows a jump in revenue, computing expenses and first-half losses.