TLDR
- Nasdaq 100 futures rose 1.16% early Monday as tech stocks tried to recover from last week’s AI selloff.
- The Nasdaq fell 4.5% last week, and the S&P 500 lost nearly 2%.
- CoreWeave dropped more than 25% over debt worries, while Intel gained more than 4% after a JPMorgan upgrade.
- Goldman Sachs traders said AI credit spreads are at their widest levels of the year.
- Oil risks, French protests and earnings from Meta Platforms and Tesla are in focus.
Stock futures climbed early Monday as technology shares tried to recover from a sharp drop last week. The selloff hit companies linked to artificial intelligence the hardest.
Nasdaq 100 futures rose 1.16%. S&P 500 futures gained 0.58%, and Dow Jones Industrial Average futures edged up 0.17%, or 87 points.
Intel rose more than 4% in premarket trading after JPMorgan analysts upgraded the chipmaker. CoreWeave added 3% before the open.
What drove last week’s drop
The S&P 500 lost nearly 2% last week. It was the index’s biggest weekly decline since late June.
The Nasdaq fell 4.5% and ended a four-week winning streak. CoreWeave dropped more than 25% over the week because of debt concerns, its largest one-week fall since November 2025.
Corporate bond investors have pulled back from the company. Its credit default swaps have reached distress levels.
CNBC reported, citing sources, that Anthropic’s third-quarter revenue was $16.8 billion, up from $11.6 billion in the second quarter. Some investors worried about the pace of growth tied to AI spending.
Goldman Sachs traders said Friday that AI credit spreads are at their widest levels of the year. They noted that the last time spreads were this wide, the related stocks were 15% lower.
The traders also said AI spending has likely peaked. They said the debate has moved to financing, sustainability and returns on capital.
Friday also saw the second highest amount of put options traded, behind only June of this year.
Oil, Europe and Asia
Traders also watched oil markets. Ship attacks in the Persian Gulf have picked up, and Ukraine and Russia have traded strikes on energy sites.
Ukraine hit an oil terminal in St. Petersburg on Sunday. Longer-dated oil futures have risen on expectations that disruptions could last into 2027.
European stocks fell Monday. The Stoxx 600 dropped 0.82%, and France’s CAC 40 lost 1.35% after weekend protests over living costs turned violent.
The protests pushed French bond yields higher and weakened the euro against the dollar. The FTSE 100 fell 0.94%, and Germany’s DAX lost 1.1%.
In Asia, South Korea’s Kospi rose 1.76% and Australia’s S&P/ASX 200 added 0.44%. Japan’s Nikkei 225 closed 0.62% lower.
Earnings reports from Meta Platforms and Tesla are due this week. Some investors hope the results will steady the market.
The latest prices show E-Mini Nasdaq 100 futures at $29,704.75, up 1.07%. E-Mini S&P 500 futures were at $7,743.50, up 0.51%, and E-Mini Dow futures were at $52,252, up 0.07%. Brent crude was at $107.74, down 1.93%.
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