Stocks Rebound on AI Optimism as Oil Prices Retreat

Global stocks regained some poise on Monday as evidence of booming AI demand lifted tech shares. This was despite ongoing concerns about global central banks possibly embarking on a hiking cycle and rising interest rates.

Oil prices retreated, with Brent falling to $101.7 a barrel after Saudi Arabia's exports recovered to over 4 million barrels per day in September, up from the lowest since at least 2013 in August.

Intel rose 5.4% in premarket trading, while Micron and AMD were both around 2% higher as chipmakers rallied. The Nasdaq futures rose nearly 1%, with S&P futures gaining 0.6%.

Central banks in major economies are expected to raise rates again this year, with the Federal Reserve's hawkish guidance last week leading to a 56% chance of another hike in October.