TLDR
- Nasdaq 100 futures rose 1.16% early Monday after a rough week for AI-linked stocks.
- The Nasdaq fell 4.5% last week, and the S&P 500 lost nearly 2%.
- CoreWeave dropped more than 25% last week over debt concerns, while Intel rose more than 4% after a JPMorgan upgrade.
- Oil risks and violent protests in France added to market worries.
- Earnings from Meta Platforms and Tesla arrive this week.
US stock futures rose early Monday as tech shares bounced back from a rough week. The rebound followed a selloff in companies tied to artificial intelligence.
Nasdaq 100 futures gained 1.16%. S&P 500 futures rose 0.58%, and Dow Jones Industrial Average futures added 0.17%, or 87 points.
Intel rose more than 4% in premarket trading after JPMorgan analysts upgraded their rating on the chipmaker. CoreWeave gained 3% before the open.
Last week’s selloff
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%, ending a four-week winning streak. The Nasdaq composite dropped more than 2% on Friday alone.
BREAKING: The Nasdaq 100 officially closes the week down -5.5%, posting its largest weekly decline since April 2025.
The index is now down -7% from its high seen just 10 days ago. pic.twitter.com/T9cC2iyodk
— The Kobeissi Letter (@KobeissiLetter) October 16, 2026
CoreWeave fell more than 25% last week over debt concerns. That was its biggest one-week drop since November 2025.
Bond investors have started to avoid CoreWeave. Its credit default swaps have reached distress levels.
CNBC reported, citing sources, that Anthropic’s third-quarter revenue totaled $16.8 billion. That is up from $11.6 billion in the second quarter, but investors raised questions about the pace of growth in 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 high, the underlying stocks were 15% lower.
The traders also said AI spending has likely peaked, and that financing and returns on capital have become the main debate. Friday also saw the second highest amount of put options traded, behind only June.
Oil, Europe and Asia
Traders also watched oil markets as ship attacks in the Persian Gulf picked up. Ukraine and Russia have traded attacks on energy infrastructure, and Ukraine hit an oil terminal in St. Petersburg on Sunday.
Longer-dated oil futures have moved higher on expectations that disruptions may last into 2027. On Sunday, Brent and WTI crude futures traded slightly lower.
European stocks fell, with the Stoxx 600 down 0.82%. France’s CAC 40 dropped 1.35% as protests over living costs turned violent over the weekend.
The protests pushed French government bond yields higher, and the euro slipped 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 from major companies such as Meta Platforms and Tesla arrive this week, with hopes those results will steady the market.
The latest futures prices show E-Mini Nasdaq 100 at $29,704.75, up 1.07%, E-Mini S&P 500 at $7,743.50, up 0.51%, and E-Mini Dow at $52,252, up 0.07%. Brent crude was $107.74, down 1.93%.
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