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

Markets are mixed but still constructive as investors balance record-setting U.S. equity momentum with softer retail sales and renewed oil uncertainty. The TSX is up 0.26%, while the TSX Venture Index is lower by 0.97%. In the U.S., the Dow is down 0.28%, while the Nasdaq is up 0.17% as technology names continue to attract buyers. London’s FTSE 100 is lower by 0.31%.

The broader backdrop remains supportive for risk assets, with US stocks rise to a record as oil prices drop and inflation gets less bad reporting that softer producer inflation helped lift U.S. stocks to fresh highs. Sandisk stock surges as Wall Street cheers flash memory maker’s bullish outlook also reinforced AI-linked memory demand, while Retail sales unexpectedly fall in July as government tax refunds fade pointed to softer consumer spending. Oil remains volatile after Oil steadies after US threatens to blockade Iran indefinitely, while U.S. equity fund inflows improved as rate-hike concerns eased.

Market numbers

TSX: Up (+0.26%) 36,759.29

TSXV: Down (‑0.97%) 966.43

DOW: Down (‑0.28%) 53,714.8

NASDAQ: Up (+0.17%) 30,154.5

FTSE 100: Down (‑0.31%) 10,752.03

In the headlines

  • Reddit jumps on S&P 500 promotion: Reddit (NYSE:RDDT), the social-media platform built around online communities and advertising, surged after being promoted to the S&P 500. The move is expected to force buying from passive funds that track the benchmark index.
  • Netflix rises as Bill Ackman returns: Netflix (TSX:NFLX), the global streaming entertainment company, gained after Bill Ackman returned with a fresh position in the stock. The move signals renewed investor confidence in Netflix’s scale, pricing power, and long-term streaming leadership.

Currencies

USD: Up (+0.39%) $0.7201

GBP: Down (‑0.04%) $0.5316

EUR: Up (+0.04%) $0.62289

JPY: Up (+0.05%) ¥114.566

AUD: Up (+0.03%) $1.0167

Bitcoin (BTC/CAD): Down (‑1.35%) 87,082.1

(Conversion to C$1)

Commodities

Copper: Up (+0.04%) 6.66680

Gold: Up (+0.82%) 4,386.85

WTI: Down (‑1.83%) 80.35

Natural Gas: Up (+0.11%) 2.747

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