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CNBC business news update. Market open. I'm Jessica Edinger. Wall Street is bouncing higher on this first trading day of November after the worst month for the NASDAQ 100 in a year. That was October. Chip stocks gaining after buyers in Asia pushed them higher overnight. Oil is dropping. Let's start with the Dow.
It's up 425 points, 8/10en of a percent. Amazon shares leading the Dow higher. They're up almost 4%. The S&P 500 index is up 40 points. That's a half percent. The Nasdaq up 207 points. That's 8/10en of 1%. Chip maker shares in the green include Taiwan Semi, Advanced Micro, Broadcom, Qualcomm, and Nvidia this morning.
It's election eve with the midterm election day tomorrow. CNBC's Aean Jaffers. This year, the inflation rate in September was 3.7%. Both Carter and Biden, whose presidencies were damaged by high inflation, managed to weather midterm elections in much worse inflation climates than President Trump is doing now.
And this president doesn't need to run for reelection in two years time. So, if you're the White House, that's a hopeful sign this week that although inflation is high, it has been an issue on the campaign trail, the history shows it's not always devastating in midterm election years for presidents.
Anthropic filed an amended S1, the initial public offering prospectus. This is the paperwork so the AI company can issue stock to the public. Here's CNBC's Leslie Picker working with some breaking news here, but it appears that the revenue came in for Q3 around 17 billion. They say that's up 1,127% year-over-year.
They do have commitments to spend on capex in the future. And so, um, the updated amount for that is about $900 billion for compute and infrastructure. Of course, that is over the course of anywhere from 1 to 20 years. Some of that is cancelellable, some of that is non-cancellable, but again, a sizable amount uh that they are committing to spend on capbacks, which kind of helps put into context what we're dealing with with regard to the cash uh for for this company.
Oil futures falling today on hope Middle East peace talks will produce an end to the US war with Iran. Reuters saying a draft proposals being circulated. Here's CNBC's Morgan Brennan. Energy prices falling sharply as US and Iran officials ramp up rhetoric supporting a diplomatic solution to the crisis in the region.
We got quite a few headlines over the weekend and you can see that is weighing on oil prices. AAA says the national average for a gallon of regular today $416. Diesel sitting at $629 a gallon. Custom chip maker Marll buying Luentum in a $115 billion AI data center bet. Lumenum is an optical components maker.
Binance says it processed about $4.5 billion dollar in withdrawals yesterday as customers rushed to move their money off the platform. Binance was hacked last week. More than $6 billion dollar in assets stolen. The FBI says North Korea may have been behind it. The Elizabeth Holmes Therronos documentary, You Can See Everything, won the weekend box office over the busy Halloween weekend.
It was considered a weak box office overall. The DC Studios Warner Brothers movie Clayface came in second. Jessica Edinger, CNBC. From gas prices to housing prices, from government spending to consumer spending, from the AI boom to the data center backlash, how will this election hit your pocketbook and your portfolio? Continuing coverage, the economy election, CNBC.
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