3 Stocks Trending on Wall Street This Afternoon

Stocks are enjoying notable gains this afternoon, as AI stocks stabilize after Anthropic's IPO filing and crude prices cool off. Below, we'll take a look at a few of the biggest names trending on Wall Street today.

Amazon Lands PT Hike

• Amazon.com (NASDAQ:AMZN) is trading 0.5% higher this afternoon, after UBS reiterated its "buy" rating and hiked its price target to $348 from $318, a roughly 40% premium to Friday's close. The firm said Amazon Web Services (AWS) is showing higher margin potential.

• AMZN has failed to break back above the $260 level despite multiple attempts following its pullback from its early August record highs, but remains up 7% for 2026.

Election Surprise Triggers Brazil Bank Stock Slide

• MercadoLibre Inc (NASDAQ:MELI) is suffering a steep 9.4% drop, after left-wing candidate and current Brazilian President Luiz Inácio Lula da Silva won a surprise re-election, besting son of former President Jair Bolsonaro, Senator Flávio Bolsonaro. Brazil-based fintech and banking names are lower in response.

• MELI now sports an 18% year-to-date loss, with the $1,600 level capturing today's steep bear gap. Today will mark the stock's worst daily performance since May 8.

Microsoft Stock Pops on AI Surge

• Microsoft Inc (NYSE:MSFT) is up 1% at last check, enjoying a halo lift from the broader chip sector as AI stocks resume their climb. The company is also making headlines after offering buyouts to roughly 60,000 employees amid an AI efficiency push.

• MSFT has been consolidating around $520 for the month of October, pulling back slightly after hitting a multi-month peak of $545.75 on Oct. 14. The equity is currently testing its year-over-year breakeven level.