A trader works at the New York Stock Exchange on July 10, 2026. NYSE stock futures rallied Sunday night as traders cautiously pulled back following last week’s decline in stocks linked to the artificial intelligence trend. Nasdaq-100 futures added 0.4%. Dow Jones Industrial Average futures rose 0.2%, or 110 points. S&P 500 futures gained 0.2%. Stable oil prices early Sunday also lent some support to the stock market. The S&P 500 lost nearly 2% last week, its biggest weekly decline since late June. The Nasdaq fell 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 was $16.8 billion. And while that figure is higher than the $11.6 billion in the second quarter, it raised alarm among investors about the pace of growth with the development of AI. Neocloud shares CoreWeave, which uses large amounts of debt to build data centers that it rents to technology companies, were at the center of those fears. The AI-linked name plunged 25% last week, its biggest one-week drop since November 2025. Investors in the corporate bond market have begun to avoid CoreWeave, and the company’s credit default swaps have reached stress levels. It’s not just CoreWeave whose movements in the credit market are worrying. Traders at Goldman Sachs noted Friday: “AI credit spreads and hyperscalers specifically are at the widest levels of the year. The last time spreads were nearly this high, underlying stocks were 15% lower.” “Pessimism is increasing, market breadth is low and [Friday] we saw the second highest amount of puts traded (just behind June of this year). “Traders were also keeping an eye on oil with attacks on ships in the Persian Gulf increasing 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 started to rise on expectations that disruptions to energy infrastructure could last until 2027. However, on Sunday, Brent and WTI crude oil futures were trading a bit lower. A slew of gains from major companies like Meta Platforms and Tesla hit the streets this week with optimism that those results will stabilize the market.
