US equity futures were steady on Tuesday, extending the prior session’s rebound as investors weighed fresh details on Anthropic’s IPO and awaited October CPI data. S&P 500 futures were little changed, Dow futures rose 0.4%, and Nasdaq 100 futures edged lower.
Anthropic is expected to begin trading on the Nasdaq as soon as next week, aiming to raise up to $90 billion at a valuation near $1 trillion. That would make it the largest IPO on record. The deal seeks to capitalize on still-robust demand for AI-related names, even as growing questions over whether recent capital expenditures have gone too far threaten to deepen this month’s market correction. Chipmakers and AI services providers have rallied sharply so far this week.
On the macro front, US consumer prices are forecast to have increased 0.3% in October, reinforcing expectations for a Federal Reserve rate hike next month. However, the recent pullback in energy prices has tempered speculation about multiple hikes in 2025, supporting fixed-income markets and boosting bank stocks in premarket trading. Shares of JPMorgan and Citigroup were up about 1%.