Today’s Market Recap: U.S. Stocks Edge Lower; AI Hardware Diverge as Anthropic Pitches Q3 to Investors Pre-IPO

Tracking the Market Trend

TradingKey – As the U.S. earnings season approaches, Anthropic plans to disclose its third-quarter financial results to institutional investors on October 14. The AI heavyweight is preparing for a potentially record-breaking IPO, making the financial disclosure a closely watched event.

U.S. stocks edged lower today, while AI hardware shares were mixed and memory-chip stocks came under notable pressure. At the close, the Dow Jones Industrial Average fell 0.35% to 51,670.10; the Nasdaq Composite declined 0.15% to 27,204.38; and the S&P 500 slipped 0.02% to 7,805.45.

AI hardware stocks delivered mixed performances. Nvidia (NVDA) rose 0.97% to $228.52, while Micron Technology (MU) fell 3.62% to $953.19, with trading volume reaching $27.2 billion. Memory-chip stocks broadly weakened, pressured by a sharp overnight decline in South Korean equities, with both SK hynix and Micron falling more than 3%.

Oil prices diverged. WTI November futures rose 0.43% to $94.14 per barrel, marking a fourth consecutive session of gains, while Brent December futures fell 0.9% to $105.69 per barrel.

Precious metals generally declined. COMEX gold futures fell 0.15% to $4,184.20 per ounce, while COMEX silver futures dropped 1.85% to $59.40 per ounce. Spot gold declined 0.31% to $4,159.37, after briefly reaching an intraday high of $4,200.54.

Market Headline

Fed Vice Chair Williams: One More Rate Hike May Be Needed This Year, None Necessary in 2027

Williams said he has not changed his view that another rate hike this year may be appropriate. He added that the neutral interest rate has risen moderately by 25 to 50 basis points due to fiscal policy and stronger growth, putting the long-term level at around 1% or slightly higher.

He identified AI infrastructure investment, tariffs and energy prices as the three major inflation variables. Williams said chip prices may remain elevated in the short term, while AI-driven productivity could become a disinflationary force over the longer term. He also denied coordinating his late-September remarks with Fed Chair Waller. The Federal Reserve will hold its next policy meeting on October 27-28.

Anthropic Plans First Disclosure of Third-Quarter Financial Data

According to CNBC, Anthropic plans to disclose its third-quarter financial data for the first time at a potential investor meeting on Wednesday, October 14. The San Francisco-based AI company is preparing for a public listing, and the figures could help investors assess its growth rate, profitability and IPO valuation.

Two people familiar with the matter said Anthropic will present the data to a group of institutional investors. Bloomberg previously reported that Anthropic was preparing an investor day ahead of a potential IPO. Anthropic declined to comment.

JPMorgan’s（JPM） Adjusted Q3 Revenue Misses Estimates, Buybacks Slashed Nearly 90%

JPMorgan reported third-quarter adjusted revenue of $50.91 billion, below the market expectation of $51.37 billion. Total trading revenue of $10.3 billion also fell short of estimates.

Fixed-income trading revenue declined 4% year over year, marking its first drop in more than two years. Equity trading revenue jumped 49% to $4.95 billion, its strongest quarter on record. Earnings per share came in at $5.57, while net interest income reached $27 billion, exceeding expectations. Total expenses were higher than forecast, and the bank recorded a $658 million net loss on investment securities.

Goldman Sachs（GS） Reports $18.68 Billion in Q3 Net Revenue as Equity Trading Surges 72%

Goldman Sachs reported third-quarter net revenue of $18.68 billion, up 23% year over year. Net income rose 29% to $5.3 billion, while diluted earnings per share reached $17.01. Return on tangible common equity was 20.5%.

Equity trading revenue jumped 72% to $6.44 billion. Although below the record $7.42 billion reported in the second quarter, the figure still exceeded expectations. Investment banking fees came in at $3.23 billion, also above forecasts. Asset-management fees reached a record high, while fixed-income, currency and commodities trading revenue fell short of expectations.

Apple Enters Smart-Home Market with HomeView Display

Apple has introduced HomeView, a $299 smart-home device featuring a 7-inch square touchscreen and an A18 chip. Face recognition allows it to switch between personalized interfaces for up to six household members. The device integrates Siri AI and home-control functions and is scheduled to begin shipping on November 13.

Apple also updated the Apple TV 4K and HomePod mini. Together with LG Electronics and Schneider Electric, it launched Apple Home Collection accessories priced between $199 and $399. Apple shares pared gains to less than 0.1% during the session.

Nvidia’s Jensen Huang in Europe: $2 Billion Investment to Be Announced Within a Week

Jensen Huang said in Paris on October 13 that Nvidia will announce investments totaling $2 billion across Europe over the following week. This would add to the roughly $8 billion the company has invested on the continent over the past year.

Huang also announced new funding for French startups Doctolib, Genesis AI, Pigment and Entalpic. He is scheduled to visit London and Berlin next. The trip comes as concerns grow in Europe over the risks of uncontrolled AI development and the high energy consumption of data centers. Huang opposed excessive regulation and promoted open-source models as a way for Europe to participate in the AI industry.

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