A trader works on the New York Stock Exchange on July 10, 2026.
New York Stock Exchange
Stock futures rebounded late Sunday as traders cautiously retreated following last week’s stock rout linked to the artificial intelligence trend.
Nasdaq-100 Futures Contracts added 0.4%. Dow Jones Industrial Average Futures checked 0.2% higher, or 110 points. S&P 500 Futures Contracts gained 0.2%.
Stable oil prices on Sunday morning also provided some support to the stock market.
In Asia, markets are expected to largely decline on Monday. Hong Kong Hang Seng Index futures stood at 24,112, lower than the index’s last close of 24,186.83. Japan’s Nikkei 225 was also expected to fall at the open, with its Chicago futures at 63,985, down from 65,324.29 at the index’s previous close. Australia’s S&P/ASX 200 index was up 0.29% in early trading.
The S&P 500 lost nearly 2% last week, its biggest weekly decline since late June. The Nasdaq fell 4.5%, ending a four-week winning streak.
Concerns about the health of the AI business took center stage after CNBC reported, citing sources, that Anthropic’s third-quarter revenue was $16.8 billion. And while that figure was up from $11.6 billion in the second quarter, it alerted investors to the pace of growth linked to AI development.
Neocloud stock CoreWeave, which uses large sums of debt to build data centers that it rents to technology companies, was at the center of those fears. The AI-related stock fell 25% last week, its biggest one-week decline since November 2025. Investors in the corporate bond market have begun to avoid CoreWeave as the company’s credit default swaps reached distressed levels.
It’s not just CoreWeave whose developments in the credit market are worrying. Goldman Sachs traders noted Friday: “AI credit spreads and hyperscalers in particular are at the widest levels of the year. The last time spreads were nearly this high, the underlying stocks were 15% lower.”
“The expansion of the complex has forced investors to confront what happens when AI spending growth slows. AI capital spending has likely peaked and financing, sustainability and capital returns have become a debate rather than the next near-term earnings review,” they said. “Pessimism is increasing, market breadth is low and (Friday) we saw the second highest number of puts traded (just behind June of this year).”
Traders were also watching oil cautiously as ship attacks intensified in the Persian Gulf and trade attacks by Ukraine and Russia on energy infrastructure. Ukraine struck an oil terminal in St. Petersburg, Russia, on Sunday. Longer-term oil futures have started to rise as disruptions to energy infrastructure could last until 2027.
On Sunday however, Brent and WTI futures were both trading slightly lower.
Many earnings from major companies such as Meta Platforms and Tesla were released this week with optimism that these results will stabilize the market.
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