North American Morning Briefing: Stock Futures Rebound After Friday's Tech Selloff

Stock futures were higher on Monday as investors tentatively turned back

to artificial-intelligence stocks after heavy selling last week.

All three major stock indexes were on track for positive sessions. Futures for the S&P 500 and Dow Jones Industrial Average rose 0.7% and 0.4%, respectively. Nasdaq futures jumped 1.2%.

Chip makers gained premarket with bellwether Nvidia rising more than 2%.

Earnings this week from AI-linked companies including Meta, IBM and Texas Instruments will help shape AI sentiment.

"What investors really need is stronger monetization-proof that the revenues generated with AI can catch up with the spending on AI tools," Swissquote said.

Meanwhile, oil prices fell after President Trump intervened to block sanctions that were set to be imposed on Russia.

Falling oil prices also eased pressure on Treasurys, with yields falling across the curve.

Investor will look to the housing market data for October, scheduled to come in at 10 a.m. Eastern.

Stocks to Watch

BUUU Group's board approved a 10-for-1 forward stock split. The stock rose 3.1% after Friday's closing bell.

Intel shares jumped more than 3% premarket after slumping some 5.8% on Friday. Peers Nvidia and Micron Technology saw their shares rise premarket too.

WidePoint Chief Financial Officer Robert George plans to resign after the company submits its quarterly financial statements. Shares were down 3.3% after hours.

Watch For:

Canada CPI for September, NAHB housing index

Today's Top Headlines/Must Reads:

- The Weak Points in AI Bonds Are Becoming Clearer

- America's New Housing Market Is All About Luxury-and It Runs on Cash

- Putin Floats a Summit With Trump and Xi to Discuss Ukraine Deal

MARKET WRAPS Forex:

The dollar stabilized after reaching a two-week low Friday driven by concerns over debt-funded AI investments and reduced expectations that the Fed will raise interest rates again on October 28.

Bitcoin rose, with the recovery reflecting an improvement in liquidity expectations rather than a confirmation of a sustained reversal higher, Zaye Capital Markets said.

The euro fell as concerns over France's civil unrest and massive debt load weighed.

The Swiss franc rose to a three-month high against the euro as worries over fiscal risks weighed on the single currency and boosted demand for safe-haven assets.

Sterling rose to a 16-month high against the euro, reflecting expectations the Bank of England could raise interest rates.

Bonds:

Treasury yields, allowing yields to remain comfortably below recent multidecade highs at the long end of the curve. Investors appear to shift their attention increasingly to the economic impact of high borrowing costs and the sustainability of debt-funded AI investments.

Energy:

Oil prices slid after President Trump waived some sanctions and tariffs on Russia, with Brent crude falling to $107.36 a barrel.

Metals:

Gold prices rose, supported by falling oil prices and as traders assess the U.S. interest-rate outlook for this year.

TODAY'S TOP HEADLINES

China's CXMT Expects Over Eightfold Revenue Jump Amid Memory Squeeze

Chinese memory-chip maker CXMT guided for a more than eightfold jump in nine-month revenue as it continued to cash in on the AI-fueled memory crunch.

CXMT expects revenue of between 265 billion yuan and 270 billion yuan, equivalent to $39.61 billion to $40.36 billion, for the first nine months of 2026, up from 32.08 billion yuan a year earlier, according to a late Friday filing.

Anthropic to Commit 5% of Its Shares to New 'Public Benefit' Fund

Anthropic plans to commit 5% of it shares to a new "public benefit fund" with the flexibility to make charitable donations or direct money to "specific populations."

Dario Amodei, Anthropic's chief executive and a face of the artificial-intelligence industry, has been vocal about the threat of social and economic disruption caused by rapidly advancing AI. Anthropic previously committed $200 million to studying and addressing AI-driven labor market instability. The new initiative aims to go further, the company said Sunday.

Lindt Boss to Depart, Former CEO Takes Interim Role

Lindt said Chief Executive Officer Adalbert Lechner will leave the company, as the chocolatier makes a sweeping overhaul of leadership in a bid to return to growth.

The Swiss chocolate company said Lechner would depart after 33 years at the firm. Lechner didn't immediately reply to a request for comment.

SoftBank in Early Talks to Buy Allied Universal

SoftBank Group is in early-stage talks to acquire Allied Universal from its private-equity backers, according to people familiar with the matter, in what would be the Japanese technology conglomerate's latest bet on widespread adoption of artificial intelligence and robotics in the workplace.

A deal is far from certain, but if completed, it could value Allied at as much as $18 billion, excluding the security company's debt, one of the people said. The company is backed by U.S.-based buyout firm Warburg Pincus and Canadian pension fund La Caisse.

Putin Floats a Summit With Trump and Xi to Discuss Ukraine Deal

Russian President Vladimir Putin has proposed that he, President Trump and Chinese leader Xi Jinping meet next month to talk about Ukraine in an attempt to negotiate an end to the four-year conflict that would favor Moscow, said people familiar with the discussions.

The plan represents an effort by Putin to capitalize on warming ties between Trump and the Russian leader that have alarmed Ukraine and its allies in Washington and Europe. Such a summit-one without the involvement of Ukrainian President Volodymyr Zelensky-would be unprecedented and send alarm bells ringing in European capitals and beyond.

Trump Waives Sanctions Against Russia Just Before New Law Takes Effect

President Trump is halting implementation of most of the sanctions that were to be imposed on Russia under a bipartisan bill he signed last month, drawing criticism from lawmakers including some of his allies.

The announcement came in an executive order on Friday night, and was part of a broader pivot by Trump toward courting Moscow as he seeks to end the war in Ukraine and keep energy prices under control ahead of the midterm elections.

French Leaders Trade Blame After Rioting Sweeps the Nation

PARIS-France confronted scenes of destruction on Sunday, from toppled landmarks to smashed city storefronts, as its political class began pointing fingers over who bore responsibility for some of the worst rioting to sweep the nation in years.

The violence, which erupted during a nationwide protest on Saturday, resumed Sunday evening with rioters burning barricades across Paris. More than 600 police officers and firefighters were injured in the weekend mayhem and more than 2,000 people were detained.

Saudi Arabia's Military Limitations Are Being Exposed by Houthi Attacks

Deadly missile and drone attacks by Houthi rebels on Saudi Arabia's capital and oil infrastructure have exposed the limitations of the kingdom's armed forces and triggered a risky new phase of the war in Yemen for Riyadh.

Saudi Arabia has one of the largest defense budgets in the world, and its armed forces are equipped with advanced fighters and air-defense systems from the U.S. and other suppliers. But the Houthis have proved an especially resilient foe whose plentiful ground forces and indigenous missile and drone production can effectively counter Saudi military strengths, analysts said.

Write to nina.kienle@wsj.com

TODAY IN CANADA Earnings:

Nothing major scheduled.

Economic Indicators (ET): 0830 Sep CPI 1130 Bank of Canada Business Outlook Survey N/A Alberta referendum on whether it should remain a province of Canada

Stocks to Watch:

Avicanna Transitions U.S. Listing to OTCQB; Transition to OTCQB Effective Oct 16

EQB Inc. Appoints Vivian Abdelmessih to the Bd of Directors; Kishore Kapoor, Current EQB Bd Member, to Step Dn Effective Jan 1, 2027

GreenPower Motor Gets Nasdaq Notice of Non-Compliance With $1 Bid Price Requirement; Halted due to pending news

NioCorp Developments 1Q EPS 3c; Correct: NioCorp Developments 1Q EPS 3c; 1Q Net Income of $3.7M Primarily Reflects About $8.5M of Non-Cash Gains Related to Earnout Shares and Warrants

Reliance Worldwide Says 'Go Shop' Period Ends in Relation to Scheme of Arrangement with Brookfield

Expected Major Events for Monday 04:30/JPN: Aug Tertiary Industry Index

08:30/UK: S&P Global UK Consumer Sentiment Index

12:30/CAN: Sep CPI

14:00/US: Oct NAHB Housing Market Index

15:30/CAN: Bank of Canada Business Outlook Survey

All times in GMT. Powered by Onclusive and Dow Jones.

Expected Earnings for Monday AGNC Investment Corp (AGNC) is expected to report $0.34 for 3Q.

ASA Gold & Precious Metals Ltd (ASA) is expected to report for 3Q.

BOK Financial Corp (BOKF) is expected to report $2.52 for 3Q.

Bar Harbor Bankshares (BHB) is expected to report $0.93 for 3Q.

CSB Bancorp Inc (CSBB) is expected to report for 3Q.

Chemung Financial Corp (CHMG) is expected to report $2.05 for 3Q.

Cleveland-Cliffs Inc (CLF) is expected to report $0.21 for 3Q.

CoastalSouth Bancshares Inc (COSO) is expected to report $0.59 for 3Q.

Crown Holdings Inc (CCK) is expected to report $2.08 for 3Q.

Dynex Capital Inc (DX) is expected to report $0.33 for 3Q.

Eco (Atlantic) Oil & Gas Ltd (EOG.V) is expected to report for 1Q.

FNB Corp (FNB) is expected to report $0.43 for 3Q.

FS Bancorp Inc (FSBW) is expected to report $0.98 for 3Q.

FVCBankcorp Inc (FVCB) is expected to report $0.39 for 3Q.

Fifth Third Bancorp (FITB) is expected to report $0.83 for 3Q.

Home Bancorp Inc (HBCP) is expected to report $1.50 for 3Q.

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October 19, 2026 06:13 ET (10:13 GMT)

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