AI Stocks Tumble as Anthropic Nears IPO Filing
AI Stocks Tumble as Anthropic Nears IPO Filing

Markets are broadly higher today as investors push back into equities, helped by easing inflation fears and optimism that a deal to reopen the Strait of Hormuz may be near. The TSX is up 1.47%, while the TSX Venture Index is higher by 2.27%, showing broad strength across Canadian markets. In the U.S., the Dow is up 0.85% and the Nasdaq is higher by 0.62%, while London’s FTSE 100 is also modestly positive.

The macro backdrop remains active. Oil is slightly lower despite ongoing volatility tied to the Middle East, while gold is surging more than 3% as traders maintain defensive exposure. Copper is also higher, pointing to stronger industrial demand, while natural gas is weaker. Bitcoin is up modestly in Canadian-dollar terms as crypto stabilizes alongside the broader risk rally.

Market numbers

TSX: Up (+1.47%) 36,329.56

TSXV: Up (+2.27%) 919.32

DOW: Up (+0.85%) 54,692.3

NASDAQ: Up (+0.62%) 29,889.2

FTSE 100: Up (+0.18%) 10,910.09

In the headlines

  • SpaceX drops after first earnings call disappoints: SpaceX (NDAQ:SPCX), the aerospace, satellite, and launch company led by Elon Musk, fell after its first earnings call as a public company. Investors appeared encouraged by the core launch business but concerned by the company’s AI spending, mobile-service ambitions, and execution risk.
  • AMD slumps despite Q2 double beat: Advanced Micro Devices (TSX:AMD), the semiconductor company focused on CPUs, GPUs, and AI accelerators, dropped despite beating second-quarter expectations. Traders blamed weakness tied to SpaceX and broader concerns about AI infrastructure spending expectations.
  • Eli Lilly rallies on weight-loss drug demand: Eli Lilly (NYSE:LLY), the pharmaceutical company behind major obesity and diabetes treatments, surged as strong demand for weight-loss drugs boosted investor confidence. The move comes as Wall Street continues rotating into healthcare names while parts of the technology trade face turbulence.

Currencies

USD: Up (+0.17%) $0.7117

GBP: Up (+0.02%) $0.5283

EUR: Up (+0.03%) $0.61688

JPY: Down (‑0.01%) ¥112.180

AUD: Up (+0.05%) $1.0090

Bitcoin (BTC/CAD): Up (+0.15%) 90,313.5

(Conversion to C$1)

Commodities

Copper: Up (+0.73%) 6.73767

Gold: Up (+3.05%) 4,201.74

WTI: Down (‑0.15%) 74.25

Natural Gas: Down (‑0.33%) 2.689

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