What are today's top business/market headlines?

Today's Top Business/Market Headlines (October 27, 2026)

1. Anthropic Files for Nasdaq IPO — Could Be Largest Ever
Anthropic, the developer of the AI model Claude, has submitted a registration statement for an initial public offering, initiating the process for a Nasdaq listing, and amid projections that this could be the largest IPO in history, all three major New York stock indices closed higher overnight. The filing revived enthusiasm for artificial intelligence ahead of big tech earnings and the Federal Reserve's rate decision.

2. Wall Street Rallies on AI Optimism
US stock contracts edged up in early Asian trading after the S&P 500 gained 0.7% and the Nasdaq 100 rose 1.1%, with the Philadelphia Semiconductor Index jumping 2.8%, its biggest gain since Sept. 21. This follows a volatile prior session where the Dow tumbled more than 600 points as oil prices rose and the market sell-off hit most sectors, with the Nasdaq falling more than 2% for its worst day since June.

3. Meta Seeks Massive $95 Billion Equity Raise
Meta is tapping the market for as much as US$95bn to fund its AI infrastructure push, just hours before Anthropic's IPO filing went public.

4. Microsoft Offers Voluntary Buyouts to 60,000 Employees
Microsoft is offering voluntary exits to roughly 60,000 employees as it reshapes the business around AI, two days before its quarterly results, with the offer covering employees at level 70 and below in the US, Canada, India and the UK, including some senior staff.

5. Wall Street Strategists Turning Cautious
HSBC's Max Kettner cut stocks to neutral from maximum overweight for the first time since mid-March and moved to overweight developed-market sovereign bonds, citing AI regulation risk under a Democratic sweep and renewed Middle East tensions. Meanwhile, BofA's Michael Hartnett expects the risk-off mood to run well into November, while Morgan Stanley's Michael Wilson sees the midterms as a clearing event for further gains.

6. Oil Prices Volatile Amid Geopolitical Tensions
Oil has been a major market driver — Brent crude settled near $116 in a volatile session, with airline stocks under pressure as Middle East tensions push crude to multi-month highs.

7. Brazilian Markets Tumble on Election Results
Brazilian markets tumbled as President Luiz Inácio Lula da Silva was re-elected, fueling fears that fiscal issues in Latin America's largest economy will worsen.

8. Chip Sector Strength Continues
Intel shares have been rallying after New Street Research analyst Pierre Ferragu upgraded the chipmaker to Buy from Neutral, arguing that structural scarcity of server CPUs fueled by rapid expansion of agentic AI is set to persist for years.

9. Asian Markets Mixed
In Asia, Japan's Nikkei 225 rose 1.7% while the Topix gained 0.4%, South Korea's Kospi advanced 3.8% and the tech-focused Kosdaq gained 2.9%, while Australia's benchmark S&P/ASX 200 was 0.32% lower.

Looking Ahead: Markets are bracing for a heavy week of big tech earnings and the Federal Reserve's policy decision, which could set the tone for the rest of 2026.