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Tom Essaye Highligted Five Funds That Invest In Anthropic

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Want to invest in Anthropic before its IPO? These 5 funds offer exposure to the AI giant.

In a client note on Wednesday, Sevens Report Research founder Tom Essaye highlighted five funds that invest the creator of the Claude AI chatbot.

Also, click here to view the full article published in Business Insider on October 30th, 2026. However, to see the Sevens Report’s full comments on the current market environment sign up here.

If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

FOMC Preview: All About December (and Beyond)

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What’s in Today’s Report:

  • FOMC Preview: All About December (and Beyond)

Futures are little changed following a quiet night of news as investors focus on the looming potential catalysts of tomorrow’s Fed meeting and hyperscaler earnings.

Economically, the only notable report overnight was Chinese Industrial Profits which met expectations (15.5%).

There was no notable AI or geopolitical news overnight.

Today focus will be on economic data and the key report is Durable Goods (E: 1.4%), as markets will want to see continued strong business investment (which is critical to the resilient economy).  We also get a lot of housing data via Case-Shiller Home Price Index (E: -0.1%), FHFA House Price Index (E: 0.2%) and New Home Sales (E: 651K).  Finally, Consumer Confidence (E: 80.4) will also be released this morning.  With the housing and Consumer Confidence data, the stronger, the better.

Earnings season also continues and the key report today is Visa (V: $3.43) as markets will want to see strong commentary on consumer spending.  Other notable reports include KO ($0.87), NVS ($2.25), BA ($-0.21) and WM ($2.18).

 

MOVE Index: An AI Bubble Burst Indicator to Watch

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What’s in Today’s Report:

  • MOVE Index:  An AI Bubble Burst Indicator to Watch

Futures are little changed following a mostly quiet night of news.

There were no notable geopolitical events overnight and all three conflicts (Russia/Ukraine, Iran/U.S., Saudi/Houthis) remain status quo (tensions and fighting across all three).

Economically, data in Europe ran “hot” as German PPI and the UK Labour Market Report were stronger than expected.

Today the economic calendar is quiet with Housing Starts (1.305M) and Pending Home Sales (E: 0.1%) the only notable reports (and they shouldn’t move markets).

On earnings, the season really starts to heat up today and markets will be looking for good results and optimistic guidance. Reports to watch today include: GE ($2.02), NFLX ($0.82), RTX ($1.78), ISRG ($2.13), COF ($5.45), MMM ($2.41), GM ($3.55), NOC ($7.22).

New ETFs for Your Watchlist

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What’s in Today’s Report:

  • New ETFs for Your Watchlist

Futures are pointing higher as investors take comfort in Fed Chair Warsh’s flexible stance on rates.

Warsh avoided signaling whether the Fed will hold or raise rates later this year, and markets viewed his comments as less hawkish than feared following two days of hotter-than-expected inflation data.

Economically, Eurozone HICP met expectations at 3.8% y/y, while Core HICP also met estimates at 2.5% y/y.

Today, focus will be on Import & Export Prices (E: 0.6% m/m, 0.9% m/m) and Industrial Production (E: 0.4%). Markets will be looking for signs that price pressures are not broadening further.

Finally, there are no Fed speakers scheduled today, while earnings include TRV ($7.01), TFC ($1.17), MTB ($4.98), CFG ($1.38), and RF ($0.67.

 

Understanding the Biggest AI Risk (for This Market)

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What’s in Today’s Report:

  • Understanding the Biggest AI Risk (for This Market)

Futures are modestly higher on strong tech earnings and despite further escalation between Saudi Arabia and the Houthis.

Semiconductor company ASML posted much better than expected quarterly results and order backlog and that’s helping the entire AI infrastructure sector to rally this morning.

The Houthis attacked Saudi Aramco headquarters and threatened to target energy infrastructure, sending oil 1% higher.

Today focus will be on CPI (E: 0.6% m/m, 3.6% y/y) and, more importantly, Core CPI (E: 0.2% m/m, 2.5% y/y).  Put simply, we need to see in-line or better than expected numbers to further pressure Treasury yields and if we get that, stocks should rally.  Conversely, if inflation metrics run hot, look for October rate hike odds (and yields) to rise again, likely pressuring stocks.  Away from CPI we also have two Fed speakers, Barkin (1:30 p.m. ET) and Bowman (10:55 p.m. ET), but they shouldn’t move markets.

On earnings, they continue to roll on with a focus on the banks and notable reports today include BAC ($1.11), MS ($2.83) and BLK ($14.01).  Additionally, Anthropic will release some revenue information to investors this afternoon and that will likely become public. If that revenue information is better than expected it could be a late day boost for tech/markets (and if it’s weak, a late day negative).

 

A Factor of Traders Getting Ahead of Themselves, Essaye Says

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Nasdaq Stages Afternoon Rebound as October Hike Odds Drop

“The biggest thing he said was that they don’t have to be urgent, which pushes back on concerns that there was going to be an October rate hike,” says Tom Essaye of Sevens Report Research.

“I think it was a factor of traders getting ahead of themselves,” Essaye says. “Hiking rates twice more—and once ahead of an election—is a pretty high bar, so they’d have to be pretty spooked by inflation to do that. That said, the inflation data is not good, and it appears to be getting worse.”

Also, click here to view the full article published in Barron’s on September 29th, 2026. However, to see the Sevens Report’s full comments on the current market environment sign up here.

If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

If Rates Are Higher for Longer, What Outperforms?

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What’s in Today’s Report:

  • If Rates Are Higher for Longer, What Outperforms? (Hint:  Secular Growth Strategies)

Futures are modestly higher on a decline in oil prices and global bond yields, following positive news for both markets.

European bond yields are lower after Marine Le Pen, the favorite to become the next French President, unveiled a more fiscally responsible budget, easing some fiscal concerns.

Oil prices are lower after Yemeni forces recaptured critical coastal cities from the Houthis, reducing the threat to the Bab el-Mandeb Strait.

Today there are no notable economic reports but there are several Fed speakers including Williams (9:05 a.m. ET), Bowman (10:45 a.m. ET), Schmid (1:15 p.m. ET), and Logan (7:00 p.m. ET).  Williams is again the most important of them (he’s the Vice Chair) and if he reiterates there’s “no rush” in hiking rates that should put more downward pressure on yields, which will be positive for stocks.

 

Why Stocks Dropped on Tuesday

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What’s in Today’s Report:

  • Why Stocks Dropped on Tuesday
  • Why Are Agricultural Commodities Hitting New Highs Too?

Futures are modestly lower despite solid tech earnings, as the 10-year yield and oil continued to drift higher overnight.

There were no new strikes between the U.S. and Iran overnight but tensions remain elevated and oil and the 10-year yield are up slightly as a result.

DELL earnings beat estimates and the stock is up 8% pre-market as AI related earnings remain very strong.

Today focus will remain primarily on geopolitics and any positive headlines about ceasefire progress should pressure oil and yields and help lift stocks.

On the economic front, there are two notable reports today: ADP Employment Report (E: 48K) and Fed Beige Book (2:0 p.m. ET).  Solid (but not great) numbers from ADP and generally supportive commentary of economic growth from the Beige Book should underscore a solid economy but not raise rate hike concerns (that’d be the best case for stocks).

 

What Does “40 Trillion” Mean for Stocks?

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What’s in Today’s Report:

  • What Does “40 Trillion” Mean for Stocks?

Futures are little changed following generally “fine” tech earnings overnight and as markets await Fed Chair Warsh’s speech.

Tech earnings (MRVL, WDAY) were solid but the tech sector is seeing some profit taking following Thursday’s big NVDA driven rally.

Economically, French Core HICP (their CPI) rose 2.7% vs. (E) 2.4% y/y, further solidifying ECB rate hike expectations.

Today focus will be on Fed Chair Warsh’s commentary (10:00 a.m. ET) and markets will want to hear 1) A firm commitment to get inflation back to 2% but also 2) No hints of a sustained rate hike cycle (a one and done rate hike in September won’t hurt markets).  The key to indicator to watch through the speech is the 10 year Treasury yield, if it rises during or after the speech that will be a negative for markets.

 

Does a Broader Rally Mean a Healthier Rally?

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What’s in Today’s Report:

  • Does a Broader Rally Mean a Healthier Rally?

Futures are modestly higher following a generally quiet night of news and after economic data was better than expected.

UK and EU flash PMIs beat estimates (EU PMI rose to 52.1 vs. (E 51.6) while the UK PMI jumped to 52.5 vs. (E) 51.5) implying stable global growth.

Treasury yields are little changed overnight and the lack of a continued rally is helping futures lift.

Today focus will stay on economic data via the Flash Manufacturing PMI (E: 53.7) and Flash Services PMI (E: 53.8) and Goldilocks numbers (headline readings that meet or slightly beat estimates and no big increases in the price indices) should keep yields stable and help stocks rebound.