At the close, the Dow Jones Industrial Average had risen 0.3 percent, the broad S&P 500 index 0.7 percent and the tech-heavy Nasdaq Composite Index 0.8 percent.
A number of major index heavyweights with strong links to AI surged after Anthropic’s application, which is expected to receive a very high valuation.
Nvidia rose 2.4 percent and Broadcom 2.3 percent. Micron and AMD rose 3 percent and 2.8 percent, respectively. All of these are among the world’s 18 most valuable listed companies, with Nvidia at the top.
Intel, another major AI player, surged 4.1 percent.
Oil futures rose sharply last week to their highest levels in months following attacks on Saudi Arabia by Yemen’s Iran-backed Houthi movement.
On Monday, prices fell. A barrel of North Sea oil (Brent) cost $115.80 after falling 0.8 percent during the day.
On Wednesday, the US Federal Reserve (Fed) will announce its interest rate decision.
The market has now priced in an 89.5 percent probability that the interest rate will be left unchanged in the range of 3.75–4.00 percent, according to the analysis firm Fedwatch.
What do you think?