A trader works at the New York Stock Exchange on July 10, 2026.
NYSE
Stock futures rebounded on Sunday night as traders cautiously dipped a toe back in following last week’s rout in shares linked to the artificial intelligence trend.
Nasdaq-100 futures added 0.4%. Dow Jones Industrial Average futures ticked 0.2% higher, or 110 points. S&P 500 futures gained 0.2%.
Stable oil prices early Sunday also lent the equity market some support.
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.
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.
Neocloud stock CoreWeave, which uses large amounts of debt to build data centers that it rents out to tech companies, was at the center of those fears. The AI-linked name plummeted 25% last week — its largest one-week drop since November 2025. Investors in the corporate bond market have started to shun CoreWeave, with the company’s credit default swaps reaching distress levels.
It’s not just CoreWeave whose moves in the credit market are concerning. 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 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 Sunday however, Brent and WTI crude futures were both trading a tad lower.
A slew of earnings from major companies such as Meta Platforms and Tesla hit the Street this week with optimism those results will stabilize the market.
