Good morning.

The Fast Five → Anthropic's massive and wild IPO prospectus, Fed to hit pause on rate hikes, Brazilian markets plunge, DoorDash circles deal to buy Instacart, and Goldman’s $210B day of deals driven by AI financing fever…

  • Today:
    CB Consumer Confidence, 10A

  • Tomorrow:
    Fed Interest Rate Decision, 2:00P
    FOMC Statement, 2:00P
    FOMC Press Conference, 2:30P

Your 5-minute briefing for Tuesday, October 27:

BEFORE THE OPEN

As of market close 10/26/2026.

Pre-Market:

Market Wrap:

  • Futures: Dow -8, S&P flat, Nasdaq +0.1%

  • Mon: Dow +146 (+0.3%), S&P +0.7%, Nasdaq +0.8%

  • Tech stocks led Monday's market rally

  • Anthropic's IPO filing boosted AI sentiment

  • Tesla surged 5%, while Nvidia gained 2%

  • Fed begins its two-day policy meeting Tuesday

  • Focus shifts to Coca-Cola, Robinhood, and Boeing earnings

EARNINGS

Here’s what we’re watching this week:

Forget SpaceX … This Could Be the
Biggest IPO in History

The biggest IPO in history could be days away.

Experts are saying Anthropic is already worth $3 trillion.

That’s more than every American airline … COMBINED.

And bigger than the entire US defense budget.

Goldman Sachs, JPMorgan and Morgan Stanley are scrambling to get in.

Even Singapore, Qatar and the UAE are investing.

You can get in on the action too … if you hurry.

- A sponsored message from Weiss Ratings -

HEADLINES

Anthropic’s seven co-founders will control the company through one golden share of supervoting stock, company paperwork showed.

A trio of mega artificial intelligence financing deals announced Monday morning had one name in common: Goldman Sachs.

  • Equities end higher as Anthropic’s IPO filing buoys AI stocks (more)

  • Fed to hit pause on rate hikes, but maybe not for long (more)

  • Brazil stocks, real tumble as Lula win shifts investor focus (more)

  • US, Canada working on deal to ease steel, auto tariffs (more)

  • Oil eases on Middle East diplomacy hopes (more)

  • Anthropic’s IPO filing sheds new light on who stands to make money (more)

  • DoorDash circles deal to buy Instacart (more)

  • SpaceX enters $40B deal with Apollo for AI chip financing (more)

  • Meta announces $95B offering to fund AI (more)

  • CoreWeave, AI landlord stocks sink to lowest levels in more than a year as the price of insuring CoreWeave’s debt doubles (more)

  • Musk's grim outlook hits neoclouds as debt concerns mount (more)

  • JetBlue rebounds after it vows to return to profitability (more)

  • HSBC cuts global equities to ‘neutral’ on Middle East, AI risks (more)

  • Microsoft offers voluntary buyout to 60,000 employees (more)

  • S&P Dow Jones partners with Kalshi for index-based events contracts (more)

  • Verizon lifts outlook, inks Amazon deal worth more than $2 billion (more)

DEALFLOW

M+A | Investments

  • EQT to buy Range Resources in $13B deal to create top US gas producer

  • Ovintiv to buy Logan Energy for $890M, expanding Montney oil position

  • Intel to buy Israeli startup Classiq in quantum computing push

  • Unconventional AI buys Israeli chip startup NeuReality

  • DigitalXForce receives investment from Arsenal Growth Equity

  • Albert receives investment from Applied Ventures

VC

  • Flapping Airplanes, a developer of compute-efficient AI training software and chip optimization infrastructure, raised $1B in Series A funding

  • Pathos AI, a clinical-stage AI and technology drug development company, raised $237M in Series E funding

  • Star Therapeutics, a biotechnology company discovering and developing new therapies for diseases with unmet need, raised $200M in private financing

  • Tractian, a Physical AI platform for asset-heavy industries, raised $130M in Series D funding

  • Nevis, an AI operating system for wealth management, raised $70M in Series B financing

  • Hexagon Bio, a biopharma company providing new payload mechanisms for antibody-drug conjugates, raised $62M in Series C funding

  • Nirva, a developer of wearable AI personal companions, raised $25M in initial funding

  • Kivo Health, a virtual pulmonary rehabilitation and telehealth platform, raised $10M in Series A funding

  • PreScalar, a provider of software and testing infrastructure for manufacturing, raised $7M in Seed funding

  • DropGenie, a functional biology company generating decision-ready discovery data from patient-derived cells, raised $5M in Seed+ funding

  • Colare, a simulation-based technical assessment platform for hardware talent screening, raised $2.5M in Pre-Seed funding

CRYPTO

  • Bitcoin holds near $80,000 as oil retreats and the Fed decision looms (more)

  • A $68M Bitcoin bet targets a post-midterm election breakout to $90K (more)

BULLISH BITES

🌎 Elon Musk is back at the center of everything.

📊 The ‘buy, borrow and die’ wealth strategy has become a $5 trillion market.

⭐️ Hollywood’s AI debate gets a star-studded cast.

💰 The superrich are buying $100 million mansions just to tear them down.

DAILY SHARES

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