US software stocks climb as Anthropic announcement sparks relief rally

Group 1 - U.S. software stocks experienced a rebound due to partnerships with AI startup Anthropic, which announced the development of new tools for investment banking, wealth management, and HR tasks [1][1][1] - Shares of partners such as LSEG, FactSet, Salesforce's Slack, and DocuSign rose between 0.4% and 5.3%, while the S&P 500 software & services index increased by 1.4% and the iShares Expanded Tech-Software Sector ETF jumped 2.4% [1][1][1] - The software index had previously hit a 10-month low, following a selloff that erased approximately $1 trillion in market value, referred to as 'Software-mageddon' [1][1][1] Group 2 - Anthropic's Claude Code tool is expected to modernize programming languages on IBM systems, leading to a significant drop in IBM's shares, which later recovered by 3.5% [1][1][1] - Other companies like Intuit and Intapp also saw gains of 2.8% and 7.1% respectively after announcing separate partnerships with Anthropic [1][1][1]