Tech's relief rally extends as attention turns to tough decisions for the Fed

The Anthropic effect is lifting the Nasdaq for a second day, after providing a boost to global technology stocks overnight.

The Fed is also in focus, as predictions of a hawkish hold at its meeting this week will almost certainly pave the way for a hike in December.

Investors look set to get a second day of gains from the tech sector, as the optimism around Anthropic's game-changing IPO announcement continues to support the sector. This comes after the announcement helped fuel a rally across AI-related stocks in Asia and Europe.

Its blockbuster listing on the Nasdaq next month will test investors' appetite following the most significant moment of buyer's remorse for the AI space, after the debt-fueled capex super cycle triggered a rout in the AI darlings over the last few weeks.

More than 300 pages of S-1 filing reveals a complicated governance structure, where everyday shareholders will have little voice against the founders.

Day one of the two-day meeting gets underway later today, with the policy decision due on Wednesday at 2 p.m. ET. It's almost certain to be a hawkish hold, with the midterms just a week away but inflation still running hot. Markets are pricing in a 90% chance of a hike in December, according to CMEFedWatch.

A steep rise in third-quarter profit for HSBC failed to meet expectations, and conservative guidance sent shares sharply lower in London and Hong Kong. Investors had expected HSBC to make more hay while the hiking cycle sun shines, as well as benefit from aggressive cost-cutting measures undertaken by CEO Georges Elhedery.

Novartis hiked its profit outlook early Tuesday, as the Swiss drugmaker said it achieved sales growth despite a challenging backdrop of generic competition. The stock is higher in Zurich. CEO Vas Narasimhan told CNBC's Squawk Box Europe that he is confident in the group's improved guidance despite the patent cliff.

Coca-Cola has hiked its earnings outlook despite weaker demand in North America. Shares have rallied 32% so far this year. This marks the third straight quarter that the drinks giant has hiked its full-year forecasts.

Boeing has just hit the wires, narrowing its third-quarter loss following stronger defense sales. CNBC's Phil LeBeau will speak to CEO Kelly Ortberg during "Squawk on the Street" at 9am ET.

There is just a week to go until the midterm election. A CNBC survey highlights what Republicans and Democrats fear most about one another.

Microsoft said Monday that it's offering buyouts to a wide swath of employees as it strives to balance a costly artificial intelligence infrastructure build-out with capital efficiency. The software maker announced a new voluntary exit offer for certain workers in the U.S., Canada, India and the United Kingdom at its experience level of 70 or below. Around 60,000 people are eligible, affecting about 27% of Microsoft's total workforce of 223,000 people.