Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York City on October 19, 2026.
Angela Weiss | Afp | Getty Images
The Nasdaq Composite rose on Monday as traders moved back into tech following last week’s artificial intelligence-related rout.
The tech-heavy index added 1.6%, while the S&P 500 gained 0.7%. The Dow Jones Industrial Average traded around the flatline.
Intel advanced 5% after JPMorgan analysts upgraded their rating on the chipmaker. Neocloud mainstay CoreWeave gained 3% 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 4% and 5%, respectively.
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.
LNW chief investment officer Ron Albahary believes the recent moves in CoreWeave’s spreads is a sign that the narrative surrounding the AI trade’s relative insulation from the rise in interest rates has changed. If earnings growth moderates, he thinks the market could become “increasingly more fragile.”
“Investors are going to become much more discriminating in terms of looking at whether these companies are going to generate the kind of return on capital to justify the debt that they’re taking on,” he said. “Prior to this wave, this sell-off, I think investors were assuming that all AI investments were going to pay off, and that’s not the case.”
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 little changed. Brent fell slightly to trade at roughly $109 per barrel, while WTI was around 0.5% higher at nearly $102.
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.
Chip stocks on pace to end 9-day losing streak
SOXX, 1-day
— Sarah Min
Attention turns to Oracle as credit stress threatens to unwind the AI bull market
Oracle bonds are sitting dangerously close to junk territory as markets cool on artificial intelligence. Much of the AI trade fizzled last week, led by CoreWeave — the neocloud company whose equity and debt has been tanking.
Oracle now faces risk of credit rating downgrades that could tip its debt into junk territory — with potentially cascading effects across the AI financing ecosystem.
“There seems to be a sentiment shift, which almost speaks to 2026 in general, where we’re so bullish about everything and then we’re so bearish about everything,” said Pat Nerney, head of investment solutions at Dynasty Financial Partners. “It just shows you how quickly this market moves.”
Read the full story here.
— Michelle Fox
Homebuilder confidence sinks to 14-year low as mortgage rates top 7%
Aerial view of single family homes line the streets on April 2, 2026 in Thousand Oaks, California.
Kevin Carter | Getty Images
U.S. homebuilder confidence fell to its lowest level since June 2012 in October, as rising mortgage rates, energy and material costs, and worsening labor and lot conditions continue to weigh on housing demand.
The National Association of Home Builders (NAHB) and Wells Fargo Housing Market Index (HMI) dropped three points to 29 in October, its lowest reading since June 2012. The index remains well below the key 50-point threshold that signals positive sentiment.
“Housing remains squeezed by supply-side constraints and significant affordability challenges,” said NAHB Chief Economist Robert Dietz.
Dietz said that while demand persists, higher mortgage rates, elevated construction costs and weaker consumer confidence are keeping more buyers on the sidelines.
“As a result, buyer traffic has fallen to its lowest level since April 2012, excluding the pandemic’s onset in April 2020,” he said.
— Deena Zaidi
CoreWeave rolls over into the red
Jakub Porzycki | Nurphoto | Getty Images
Neocloud CoreWeave rolled over into the red during morning trading on Monday after rising in premarket trading. Shares were just below flat as of 10:09 a.m.
CoreWeave sold off in a major way last week, dropping 25% on profitability concerns related to the ongoing artificial intelligence buildout. Other neoclouds, which are AI-dedicated providers of computing power, followed suit, including Nebius and IREN.
— Tobias Burns
S&P 500, Nasdaq open higher
The S&P 500 and Nasdaq Composite began the week in positive territory.
The broad market index rose 0.5% shortly after the opening bell, while the tech-heavy Nasdaq advanced 1%. The Dow Jones Industrial Average shed 63 points, or 0.1%.
— Sean Conlon
Hedge funds sold tech stocks by the most on record last week, says Goldman
The S&P 500 information technology sector saw substantial pressure last week amid a sell-off of artificial intelligence-related names, according to Goldman Sachs.
In a recent note, the firm said that the sector — which saw a more than 6% drop in the week ended Oct. 16 — was “by far the most net sold global sector” last week. Notably, it saw the largest percentage of de-grossing in two months as well as the largest percentage of net selling on record dating back to 2016.
The firm also said that the move was “driven by long and to a lesser extent short sales.”
— Sean Conlon
JPMorgan upgrades Intel, stock rises
Intel CEO Lip-Bu Tan attends the annual Computex trade show in Taipei, Taiwan, June 2, 2026.
Tsai Hsin-han | Reuters
Intel’s sell-off over the last few months may be ending, according to JPMorgan.
The bank upgraded the stock to neutral from underweight, while maintaining its price target of $85. That indicates a 5% loss from Friday’s close. Analyst Harlan Sur wrote in a Sunday note that as the stock has approached his price target — as it has declined 36% from its late June peak — the risk/reward profile of the company has improved, though only to become more balanced.
“Since Lip Bu Tan’s appointment to CEO, we believe the team’s execution and competitiveness in their core client/datacenter compute market has improved, the team’s execution on next-gen manufacturing has significantly improved,” Sur said in the note. “Despite near-term concerns on AI infrastructure spending sustainability, we believe increasing agentic AI workloads (CPU intensive) and a very tight supply chain for leading edge silicon should drive continued positive EPS revisions in the upcoming earnings season and through CY27.”
Shares of Intel were up 4% in premarket trading Monday.
Intel 6-month.
— Davis Giangiulio
Stocks making the biggest moves premarket: Cleveland-Cliffs, Datadog and Amazon
Sopa Images | Lightrocket | Getty Images
U.S. stocks were on the move Monday morning as investors reacted to fresh earnings, analyst upgrades and corporate developments.
Cleveland-Cliffs surged more than 10% after beating quarterly earnings expectations.
AI-related stocks also attracted attention. Datadog rose 3% after Bernstein upgraded the stock, citing strong AI-driven demand. Amazon climbed more than 1% after Morgan Stanley named it a top pick
Read more on companies making the biggest moves premarket here.
— Deena Zaidi
Bank of America Securities double downgrades Ameriprise Financial
Bank of America Securities issued a double downgrade of Ameriprise Financial to underperform from buy previously, and also slashed his price objective to $445 from $570 that implies the stock should fall another 11% from where it currently is at $500.80.
Analyst Craig Siegenthaler said he expects Ameriprise has started offering bonuses to retain financial advisors, following some large exits, a trend that could start hurting operating margins.
“AMP has seen an acceleration in large team departures to start independent RIAs,” Siegenthaler wrote on Monday. “We estimate this has caused AMP to react by offering retention bonuses which could negatively impact operating margins.”
Ameriprise Financial, 1-day
— Sarah Min
Stabilizing yields will be key to equities moving higher, says JPMorgan
“If bond yields are stabilizing, that will help equities, through allowing the cycle to look more sustainable, through reducing pressure on AI funding, as well as on consumer finances, and through reducing the drive for P/E compression,” wrote JPMorgan strategist Mislav Matejka. “Indeed, during the most intense phase of yields spiking, forward P/E for AC World fell by 3 points, for SPX by 3 points and for Europe by 2 points. The multiple compression might not need to continue.”
Treasury yields pulled back to start the week, while S&P 500 and Nasdaq-100 futures rose following a losing week on Wall Street.
— Fred Imbert
Treasury yields move lower
Treasury yields moved lower on Monday as investors continue to weigh the domestic inflation and interest rate backdrop against broader geopolitical developments.
Yields on 10-year U.S. Treasurys — the main benchmark for mortgages, auto loans and credit card debt — were last seen more than 1 basis point lower to 5.0854%. The yield on longer-dated 30-year U.S. Treasurys — which often moves on geopolitical developments — was also 1 basis point lower at 5.4242%.
The yield on the 2-year Treasury note, which more closely follows short-term Federal Reserve rate decisions, was broadly flat at 4.7315%.
— Hugh Leask
Stocks moving in premarket: CoreWeave, Intel
Barclays shares fall as Bank of England reportedly examines private credit complaint
Barclays bank reported second quarter earnings Thursday.
Bloomberg | Bloomberg | Getty Images
Barclays shares fell almost 2.5% following reports that the Bank of England is examining whether traders at the London-headquartered lender misrepresented derivatives linked to private credit exposures.
The Financial Times reported Monday, citing people familiar with the matter, that the BoE’s Prudential Regulation Authority received a complaint about how Barclays classified total return swaps linked to illiquid private credit loans. The classification could affect the amount of regulatory capital the bank is required to hold.
CNBC has contacted Barclays and the Bank of England for comment.
Barclays.
— Hugh Leask
Asia-Pacific markets close mostly in the green
Asia-Pacific markets closed mostly higher.
South Korea’s benchmark Kospi gained 1.76%, ending the day at 5,768.01, while the small-cap Kosdaq index rose 1.78% to 808.89.
Australia’s S&P/ASX 200 added 0.44%, closing at 8,845.7.
Japan’s Nikkei 225 bucked the wider trend, closing 0.62% lower at 64,916.7, while the Topix was flat at 4,067.48.
Mainland China’s CSI 300 was little changed at 4,174.53.
— Lee Ying Shan
European markets open in the red, as French stocks lead losses
The pan-European Stoxx 600 fell 0.55% at the market open, with most regional sectors and major bourses in the red shortly after 8:12 a.m. in London (3:12 a.m. E.T.).
Travel and leisure stocks led losses, down 1.28%, followed by carmakers and parts suppliers, which dipped 1.27%, and banks, which shed 1.17%.
Oil and gas stocks opened higher, rising 0.81% in early dealmaking, followed by technology names, which were up 0.61%.
France’s CAC 40 led losses among regional bourses, sliding 1.18%, as Italy’s FTSE MIB dropped 0.76%. Germany’s DAX moved 0.70% lower. The U.K.’s FTSE 100 was down 0.46%.
— Hugh Leask
Euro lower as France racked by mass protests
Euro/U.S. dollar.
— Jenni Reid
Stock markets in Europe set to start the week lower
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 29, 2026.
Staff | Reuters
Stoxx 50 futures were 0.31% lower before the start of Monday’s trading session, with Europe’s main bourses all set to open in negative territory.
France’s CAC 40 was down 0.46% ahead of the market open, leading the continent’s losses, as the country saw nationwide protests turn violent over the weekend.
The Italian FTSE MIB was seen 0.44% lower, with the German DAX off by 0.22%. The U.K.’s FTSE 100 was down 0.07%.
China’s third-quarter economic growth quickens to 4.5% as exports surge, beating estimates
China’s economic growth accelerated to 4.5% in the third quarter from a year earlier, as robust foreign demand for the country’s technological goods largely offset drags from a deepening property slump and sluggish consumer demand.
Growth beat Reuters-polled economists’ expectation of a 4.4% expansion, and was also higher than the three-year low of 4.3% in the second quarter.
“The rebound in September salvaged the lukewarm performance in July and August,” said Tianchen Xu, senior economist at Economist Intelligence Unit, attributing the recovery to improved government investment that helped arrest the consistent worsening in fixed asset investment, an “ever-strong” external sector and a weak base. China’s monthly trade surplus reached a record high of $133.5 billion.
— Anniek Bao
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.
— Jenny Lee
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
People watch the burning oil terminal following an air attack in St. Petersburg on Oct. 18, 2026, amid the ongoing Russian-Ukrainian conflict. Russia shot down dozens of Ukrainian drones near St. Petersburg, authorities said, with an oil terminal hit and flights disrupted at one of the country’s busiest airports.
Stringer | Afp | Getty Images
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