UBS posts $3.6 billion pre-tax profit and lobbies for favorable equity rules
The large bank is attracting significantly more customer funds and has almost completed the integration of CS. The all-important capital question will be decided in parliament.
US stock markets are set to open on a positive note this week as falling oil prices and upcoming quarterly earnings figures from major tech companies bolster investor sentiment. Throughout the week, key sentiment tests are expected for Wall Street. The Dow Jones Industrial Average, which tracks the 30 largest blue-chip companies, closed 0.3% higher at 52,362 points on Friday.
The broader S&P 500 index rose 0.7% to 7,677 points. The technology-focused Nasdaq index gained 0.8% to 26,169 points. The Nasdaq 100, which tracks the 100 largest non-financial companies by market capitalization, finished 1.1% higher at 29,273 points. This marks the end of a two-week losing streak for both the S&P 500 and Nasdaq.
Tech startup Anthropic has filed its long-awaited prospectus with the US Securities and Exchange Commission for its planned initial public offering on the Nasdaq stock exchange under the ticker symbol "ANT". The company plans to list on the Nasdaq by the end of the year, though the exact valuation has not been disclosed. Industry analysts expect it to be similar to that of SpaceX, which made a record $1.77 trillion debut in June.
Anthropic's IPO is seen as a crucial sentiment indicator for the entire AI market. The technology giant OpenAI, its main competitor, is expected to follow suit with its own IPO next year.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Wall Street: The AI recovery continues handelsblatt.com
