Nasdaq 100 futures rose on Monday, led by a tech rebound following last week’s rout in shares related to artificial intelligence. Futures tied to the Nasdaq 100 added 1.3%. S&P 500 futures gained 0.5%. Dow Jones Industrial Average futures fell 88 points, or 0.2%. Intel advanced more than 3% in premarket trading after JPMorgan analysts upgraded their rating on the chipmaker. Neocloud mainstay CoreWeave gained 6% after receiving an upgrade at Goldman Sachs. The stock plunged more than 25% last week—its biggest one-week drop since November 2025—over debt concerns. Advanced Micro Devices and Micron Technology were also up 3% each. The S&P 500 lost nearly 2% last week—its biggest weekly decline since late June. The Nasdaq tumbled 4.5%, snapping a four-week winning streak. Information technology also shed more than 6% to post its worst weekly performance since April 2025. It was the most net-sold global sector last week, with hedge funds selling the largest percentage of tech on record, per Goldman Sachs. Concerns around the health of the AI trade took center stage after CNBC reported, citing sources, that Anthropic’s third-quarter revenue totaled $16.8 billion. And while that’s up from $11.6 billion in the second quarter, it raised flags among investors about the pace of growth with the AI build-out. Investors in the corporate bond market have started to shun CoreWeave, with the company’s credit default swaps reaching distress levels. Goldman Sachs traders noted Friday: “AI credit spreads and hyperscalers specifically are at the widest levels of the year. The last time spreads were nearly this high, the underlying equities were 15% lower.” “The widening across the complex has forced investors to confront what happens as AI spending growth slows. AI Capex has likely peaked, and financing, sustainability, and returns on capital have become the debate rather than the next near-term earnings revision,” they said. “Pessimism is increasing, market breadth is low, and [Friday] we saw the second highest amount of puts traded (right behind June of this year).” Traders were also keeping a wary eye on oil markets, with ship attacks in the Persian Gulf picking up and Ukraine and Russia trading attacks on energy infrastructure. Ukraine hit an oil terminal in St. Petersburg, Russia on Sunday. Longer-dated oil futures have begun to ratchet higher on expectations energy infrastructure disruptions may last well into 2027. On Monday, however, Brent and West Texas Intermediate crude futures were both trading slightly lower. Brent fell more than 1% to trade around $108 per barrel, while WTI was marginally lower at around $101. A slew of earnings from major companies such as Meta Platforms and Tesla hit the Street this week, with optimism that those results will stabilize the market. Treasury yields moved lower on Monday as investors continue to weigh the domestic inflation and interest rate backdrop against broader geopolitical developments. The yield on 10-year U.S. Treasuries—the main benchmark for mortgages, auto loans, and credit card debt—fell more than 1 basis point to 5.079%. The longer-dated 30-year U.S. Treasury bond yield—which often moves on geopolitical developments—was also more than 1 basis point lower at 5.424%. The yield on the 2-year Treasury note, which more closely follows short-term Federal Reserve rate decisions, was down more than 1 basis point at 4.717%. In Asia, South Korea’s benchmark Kospi was up 1.76%, Australia’s S&P/ASX 200 added 0.44%, and Japan’s Nikkei 225 closed 0.62% lower. Mainland China’s CSI 300 ended the flat at 4,174.53. Gold prices edged higher on Monday as lower ​oil prices alleviated ​inflation concerns ahead of ​next week’s Federal Reserve monetary policy meeting, where the central bank is widely expected to hold interest rates steady. Spot gold rose 0.2% to $4,171.65 per ounce by 0853 GMT. ⁠US ‌gold futures for December delivery rose 0.26% ⁠to $4,191.90 per ounce. “Lower oil prices are easing pressure on the Fed, which is supportive for gold. What is notable is that gold is holding up even as the dollar strengthens, as demand ‌for safe-haven assets is benefiting both,” said UBS analyst Giovanni Staunovo.