--- title: "AI deals extend the Nasdaq rally as Brent eases on Iran talks." url: https://causamarkets.com/edition/2026-10-27/ publisher: Causa edition: 4 published: 2026-10-27T18:00:00Z updated: 2026-10-27T18:00:00Z license: CC BY 4.0 --- # AI deals extend the Nasdaq rally as Brent eases on Iran talks. Causa, Edition 004. Tuesday 27 October 2026. Intraday, 14:00 New York. Anthropic’s computing contract with SpaceX and chipmakers’ interest in Meta’s share sale lifted the Nasdaq about 1% for a second day. Brent slipped as Iran kept talking, and Boeing fell 10%. ## What moved markets on Tuesday 27 October 2026, and why The Nasdaq was up 1.0% at about 14:00 New York, a second session of gains for AI-exposed stocks. TheStreet reported that Anthropic agreed to pay SpaceX up to $120.5 billion for computing infrastructure through 2029, and Reuters reported that Nvidia, AMD and Broadcom showed interest in Meta’s enlarged $97.5 billion share sale. (Sources: [Reuters, via Investing.com](https://www.investing.com/news/stock-market-news/sp-500-nasdaq-open-higher-as-oil-pulls-back-ahead-of-fed-decision-4975858), [TheStreet](https://www.thestreet.com/stock-market-today/stock-market-today-dow-jones-sp-500-nasdaq-updates-oct-27-2026), [Reuters, via Kitco](https://www.kitco.com/news/off-the-wire/2026-10-27/sp-500-nasdaq-advance-oil-eases-ahead-fed-decision)) Boeing fell about 10% after a wider third-quarter loss and a cut to its delivery target, which held the Dow to a gain of about 0.1%. (Sources: [TheStreet](https://www.thestreet.com/stock-market-today/stock-market-today-dow-jones-sp-500-nasdaq-updates-oct-27-2026), [Reuters, via Investing.com](https://www.investing.com/news/stock-market-news/sp-500-nasdaq-open-higher-as-oil-pulls-back-ahead-of-fed-decision-4975858)) Oil eased for a second session. December Brent was at $114.81 at 09:11 New York, down 0.86%, after Iran’s security council chief met Saudi, Turkish and Pakistani officials and the four agreed to keep talking. The Houthis said they hit Saudi Arabia’s Ras Tanura refinery; Saudi authorities have not commented and no damage is confirmed. (Sources: [Reuters, via Euronext](https://live.euronext.com/en/financial-news/oil-falls-middle-east-talks-outweigh-concern-over-fresh-strikes), [Anadolu Agency](https://www.aa.com.tr/en/middle-east/yemen-s-houthis-claim-missile-attack-on-saudi-arabia-s-ras-tanura-oil-refinery/4102578)) One call is decided at tonight’s close. F-010 fails if the Nasdaq closes below 25,955.34, and the index is about 1.9% above that line. F-002 needs a close above 26,702.86 by Friday with Brent above $108, about 1% away. (Sources: [Reuters, via Investing.com](https://www.investing.com/news/stock-market-news/sp-500-nasdaq-open-higher-as-oil-pulls-back-ahead-of-fed-decision-4975858)) ## The Board | Market | Level | Move | Why | | --- | --- | --- | --- | | Brent crude | $114.81 | −0.86% | Brent eases for a second day as Iran keeps talking | | US crude | $100.02 | −1.71% | | | Dow Jones | 52,419 | +0.11% | Boeing down about 10%. | | S&P 500 | 7,722 | +0.59% | F-008 needs a close above 7,757.17 with Brent above $112. | | Nasdaq Composite | 26,438 | +1.03% | Anthropic’s compute deal and Meta’s raise extend the AI rally | | Gold futures | $4,027 | −0.28% | COMEX, 08:13 New York. Steady near $4,000 before the Fed. | | US 10-year yield | 4.98% | −1 bp | Little changed before the Fed. | ## Cause Files ### [Anthropic’s compute deal and Meta’s raise extend the AI rally](https://causamarkets.com/cause/ai-deals-extend-nasdaq-rally/) Nasdaq Composite +1.03% to 26,438. Evidence grade B. The Nasdaq added about 1% for a second session as more AI spending became visible: an Anthropic contract with SpaceX for computing capacity and chipmakers’ interest in Meta’s enlarged share sale. Boeing’s results held back the Dow. Wrong if: Our read is that the rally rests on committed AI spending, not on lower oil or hopes for easier rates. If the Nasdaq closes below 25,800 on a day the 10-year yield closes below 5.10%, by 6 November, the demand evidence has not held and this file is wrong. (F-012, deadline 6 November 2026) ### [Brent eases for a second day as Iran keeps talking](https://causamarkets.com/cause/brent-eases-iran-keeps-talking/) Brent crude −0.86% to $114.81. Evidence grade B. Brent slipped again after Iran’s security council chief met Saudi, Turkish and Pakistani officials and all four agreed to keep talking. A Houthi claim of a missile hit on Saudi Arabia’s Ras Tanura refinery is unconfirmed, and the physical market remains tight. Wrong if: Our read is that the Ras Tanura claim is a risk event, not a supply event. If Saudi Aramco or the Saudi government confirms damage that reduced output at Ras Tanura by 6 November, the attack was a supply event and this file understated it. (F-013, deadline 6 November 2026) ## What we are watching - Wednesday 28 October, 14:00 New York, Federal Reserve decision: A hold is widely expected after September’s hike, with at least two more hikes priced by mid-2027. The statement will show how much weight the Fed gives oil. - 28 and 29 October, Microsoft and Alphabet, then Amazon and Apple: The first direct test of the AI demand case behind two days of gains. - Friday 30 October, December Brent expires: Our Brent calls move to January, with each line adjusted by the gap between the two contracts at expiry. - This week, Israel’s election result: Commerzbank analysts said the outcome could shape the course of the Iran war.