Futures Wobble After AI Bloodbath As Brent Hits $114, France Braces For Moody's

What happened: US futures fell, erasing an overnight bounce, after Thursday's AI selloff. Brent hit its highest level since May as oil rose again. Key numbers: S&P futures -0.2% at 7,687; Nasdaq futures -0.1% at 29,100; Dow futures -0.6%. Thursday: S&P -1.2%, Nasdaq 100 nearly -3%. 10Y yield back to 4.99%. Why it matters: The AI trade drove the session: OpenAI now targets a $1.25 trillion valuation for its $30 billion raise, $150 billion below last month's ask. Bloomberg called it a repricing of who pays for the build-out rather than capitulation.

US futures fell, erasing an overnight bounce, after Thursday's AI selloff. Brent hit its highest level since May as oil rose again.

The AI trade drove the session: OpenAI now targets a $1.25 trillion valuation for its $30 billion raise, $150 billion below last month's ask. Bloomberg called it a repricing of who pays for the build-out rather than capitulation.