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.
In Asia, Japan’s Nikkei 225 lost 1.65%, while the Topix was down 1.12% on Monday. South Korea’s Kospi was 1.29% lower, while the small-cap Kosdaq Index fell 0.93%. Australia’s S&P/ASX 200 was up 0.37%. Mainland China’s CSI 300 slid 0.28%.
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.
Indonesian stocks plunge to six-year low as MSCI downgrade fears mount
Indonesia’s benchmark stock index plunged over 5% on Monday to its lowest level in six years, as concerns over a potential downgrade by MSCI intensified fears of further foreign investor outflows.
The Jakarta Composite Index tumbled to its lowest level since early October 2020, extending a bruising sell-off in Indonesian equities. MSCI, the index provider, on Friday proposed reclassifying Indonesia directly from an emerging market to stand-alone status, raising the prospect of the country’s removal from major global equity benchmarks.
MSCI is expected to make a final decision by June, with the potential reclassification hinging on whether Indonesian authorities can demonstrate meaningful improvements in market governance and transparency.
Goldman Sachs warned in a Sunday note that a full removal from MSCI’s emerging-market indexes could trigger approximately $5.6 billion in passive fund outflows, equivalent to 18 days of average daily trading volume for constituents of the MSCI Indonesia Investable Market Index.
—Lee Ying Shan
China’s CXMT sees shares drop over 6% as investors look past chipmaker’s profit turnaround
Shares of ChangXin Memory Technologies, or CXMT, fell 6.5% Monday even as the company on Friday forecast a sharp swing to profitability for the first nine months of 2026.
CXMT said in a filing Friday that it expects net profit attributable to shareholders of between 131 billion yuan ($19.58 billion) and 132.5 billion yuan for the January-to-September period, reversing a net loss of 5.28 billion yuan a year earlier, according to a Google translation of the filing.
The company expects revenue of around 265 billion yuan to 270 billion yuan, an increase of 232.9 billion yuan to 237.9 billion yuan from the same period a year earlier.
—Jenny Lee
Asia-Pacific markets mostly in the red
Asia-Pacific markets fell Monday, with Japanese stocks leading declines in the region.
Japan’s Nikkei 225 lost 1.65%, while the Topix was down 1.12%.
South Korea’s Kospi was 1.29% lower, while the small-cap Kosdaq Index fell 0.93%.
Australia’s S&P/ASX 200 was up 0.37%.
— Lee Ying Shan
EQT’s $6.5 billion takeover for Australia’s Cleanaway sends its shares surging 20%
Shares of Australia’s Cleanaway Waste Management surged 19.84% on Monday after Swedish private equity firm EQT announced an agreement to acquire the company in a deal valued at about $9.3 billion Australian dollars ($6.5 billion).
Under the agreement, EQT will acquire all outstanding shares of Cleanaway for A$3.095 per share in cash, subject to adjustments for any dividends or other distributions.
The offer represents a 32.1% premium to Cleanaway’s closing share price of A$2.37 on Aug. 12, the last full trading day before the company first disclosed a potential transaction.
EQT said it sees opportunities to invest in Cleanaway’s infrastructure and improve the performance of its waste management network to meet Australia’s evolving waste management needs.
Cleanaway’s board unanimously recommended that shareholders vote in favor of the deal, citing the significant premium and certainty of cash consideration, subject to no superior proposal emerging and an independent expert concluding that the transaction is in shareholders’ best interests.
Asia-Pacific markets set to fall as Middle East tensions rise
Asia-Pacific markets were set for a subdued Monday as investors weighed renewed threats from Iran.
Japan’s Nikkei 225 was also set to fall at open, with its Chicago and Osaka futures contracts last at 63,985 and 63,630 respectively, compared with the index’s previous close of 65,324.29.
Australia’s S&P/ASX 200 was up 0.29% in early trade. Hong Kong market is closed for a holiday.
A senior Iranian security official said Sunday that Tehran had drawn up a new military response strategy in the event of further U.S.-Israeli strikes, amid reports of multiple attacks on commercial ships in waters surrounding the Arabian Peninsula.
“Iran’s armed forces have prepared a response to any new act of adventurism that would be far more devastating than the 12-day and 40-day wars,” Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, said in a post on X.
— Lee Ying Shan
Correction: This post has been revised to reflect that Hong Kong market is closed for a holiday.
Oil slips even as geopolitical tensions rise over the weekend
Oil prices fell slightly in early trading Sunday even after Ukraine attacked crude facilities in Russia, while more tankers along the Persian Gulf came under attack as well.
Brent crude slipped 1% to $108.80 per barrel. U.S. oil prices lost 0.2% to $101.18.
Fires broke out at an oil terminal and depot in St. Petersburg after Ukraine launched a massive wave of drone strikes on Sunday, St. Petersburg Gov. Alexander Beglov said in a post. Meanwhile, two tankers were attacked off the coast of Saudi Arabia in the Persian Gulf on Friday, according to incident reports from the United Kingdom Maritime Trade Operations Centre.
For more on the oil market, read our story here.
— Spencer Kimball