Wall St futures climb as AI stocks rebound; oil, yields fall
SPY•U.S. stock futures rose, with Nasdaq 100 futures up 0.99%, S&P 500 futures up 0.47% and Dow futures up 0.03%, as AI-related shares rebounded. Brent crude fell 1.8% to around $107 a barrel and the 10-year Treasury yield declined to 5.085%.
1. Futures advance
U.S. stock index futures gained Monday after AI-related shares rebounded from last week's sharp selloff. The S&P 500 and Nasdaq Composite had their biggest weekly declines since late June on Friday, as concerns grew that higher interest rates could hamper investment in AI infrastructure, particularly among data center operators.
2. Oil and yields ease
CoreWeave rose 1.3% in premarket trading, Broadcom gained 2.3% and Nvidia climbed 1.1%. Brent futures fell 1.8% to around $107 a barrel after President Donald Trump decided to waive some sanctions on Russia; the 10-year Treasury yield fell to 5.085%. Iran reported that another tanker had hit a mine in the Strait of Hormuz, while shipping and insurance costs kept oil prices for immediate delivery much higher.
3. Earnings and company news
Investors were looking ahead to a busy week of technology earnings. Meta was expected to beat Wall Street estimates, Tesla was due to report Wednesday and SpaceX was scheduled to release results Tuesday. Intel rose 3.8% after JPMorgan upgraded the stock to neutral from underweight. Red Cat Holdings gained 6.9% after saying it plans to acquire Steyr Motors in a deal valued at about €204.8 million ($230 million).
