Stock futures edged higher on Sunday night as traders cautiously bought the dip after last week's sharp sell-off in AI-related shares, with the Nasdaq down 4.5%.
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01Summary
- 01Nasdaq-100 futures added 0.4%, while S&P 500 and Dow futures rose 0.2% each.
- 02The S&P 500 lost nearly 2% last week, its biggest weekly decline since late June, and the Nasdaq fell 4.5%.
- 03AI-linked neocloud stock CoreWeave plummeted 25% last week, and its credit default swaps reached distress levels.
- 04Goldman Sachs traders noted AI credit spreads are at their widest this year and that AI capital expenditure has likely peaked.
- 05Ukraine attacked an oil terminal in St. Petersburg on Sunday, though Brent crude slipped 1% to $108.80 per barrel.
02Why it matters
This matters because a sustained sell-off in AI stocks could signal a broader market correction, affecting portfolios heavily weighted in technology shares.
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