Futures for major U.S. stock indices rebounded on Sunday evening as investors began to cautiously engage after a significant decline in shares related to artificial intelligence. Nasdaq-100 futures increased by 0.4%, while Dow Jones Industrial Average futures rose by 0.2% or 110 points. S&P 500 futures also gained 0.2%. Stable oil prices offered additional support to the equity market.
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In Asia, however, markets faced losses. Japan's Nikkei 225 dropped by 1.65%, and the Topix fell by 1.12%. South Korea's Kospi decreased by 1.29%, with its small-cap Kosdaq Index down 0.93%. In contrast, Australia's S&P/ASX 200 experienced a slight increase of 0.37%. Mainland China's CSI 300 declined by 0.28%.
Last week, the S&P 500 lost nearly 2%, marking its most considerable weekly decline since late June, while the Nasdaq suffered a 4.5% fall, ending a four-week winning streak. Concerns surrounding the artificial intelligence sector heightened after CNBC reported that Anthropic's third-quarter revenue reached $16.8 billion, up from $11.6 billion in the second quarter. This raised alarms among investors about the sustainability of growth in the AI sector, particularly regarding CoreWeave, which closed the week down 25%, its largest drop since November 2025.
Goldman Sachs noted that AI credit spreads are currently at their widest levels of the year, indicating increasing pessimism among investors. They reported that the widening of these spreads is leading investors to question the future of AI spending growth as discussions shift towards financing and returns on capital.
In another geopolitical development, tensions in the oil market remain palpable as ship attacks in the Persian Gulf have picked up. Despite this, Brent and West Texas Intermediate crude futures were slightly lower on Sunday.
On the corporate front, several large companies, including Meta Platforms and Tesla, are set to report earnings this week, with some optimism that these results could stabilize market conditions.
In global markets, Indonesia's benchmark index fell over 5% on Monday to its lowest level in six years, as concerns grew over a potential downgrade by MSCI. This drop could lead to significant outflows from foreign investors if Indonesia is removed from major global equity benchmarks.
Meanwhile, shares of ChangXin Memory Technologies, or CXMT, fell by 6.5% despite the company expecting a return to profitability for the first nine months of 2026.
Lastly, Australia's Cleanaway Waste Management saw its shares surge by nearly 20% after EQT announced a $6.5 billion acquisition, with a recommendation from Cleanaway's board for shareholders to approve the deal.