Futures climb as tech bounces back from the Nasdaq's 4.5% weekly drop

Nasdaq $NDAQ 100 futures gained 1.1% on Monday as technology stocks moved to recover from last week's selloff in companies tied to artificial intelligence. S&P 500 futures rose 0.5%, and Dow Jones Industrial Average futures slipped 0.16%.

Intel $INTC shares climbed over 4% before the opening bell, after JPMorgan $JPM analysts raised their rating on the chipmaker, according to CNBC. CoreWeave stock gained 3%, and AMD $AMD and Micron $MU stock each rose more than 2%.

The Nasdaq fell 4.5% last week. The S&P 500 shed close to 2%, marking its steepest week of losses since late June, according to CNBC.

CoreWeave stock lost over a quarter of its value last week on worries about its debt, the sharpest slide in a single week since November 2025, according to CNBC. Credit default swaps on the company's debt have reached distress levels, according to CNBC.

Concerns about the AI trade grew after Anthropic's third-quarter revenue reached $16.8 billion, compared with $11.6 billion for the prior quarter, according to CNBC. Goldman Sachs $GS traders said Friday that spreads on credit tied to AI companies and hyperscalers have widened further than at any other point this year, according to CNBC.

Earnings from companies including Meta $META Platforms and Tesla $TSLA are due this week.

European stocks fell. The Stoxx 600 dropped 0.82%, France's CAC 40 lost 1.35%, the U.K.'s FTSE 100 slid 0.94% and Germany's DAX fell 1.1%. Cost-of-living demonstrations across France turned violent over the weekend. The yield on the French 10-year government bond rose to 4.890%, and the euro slipped against the dollar to 1.1226.

Asian markets were mixed. South Korea's Kospi rose 1.76%, and Australia's S&P/ASX 200 added 0.44%. Japan's Nikkei 225 closed 0.62% lower, and China's CSI 300 ended flat at 4,174.53.

Brent crude futures traded at $108.51, down 1.23%, and WTI futures were lower as well. Attacks on vessels in the Persian Gulf have intensified, while Ukraine and Russia have been hitting each other's energy infrastructure. The U.S. 10-year Treasury yield was at 5.077%.