Boeing Slumps as Frontier AI Development Halted

U.S. stock index futures slipped on Monday due to an unexpected halt in frontier artificial intelligence development and rising crude oil prices, prompting traders to trim exposure to risk assets ahead of a pivotal week for economic data.

Nasdaq 100 futures fell by 1% to 30,574.50, while S&P 500 futures dropped by 0.5% to 7,706. The Dow Jones Industrial Average futures slipped by 0.4%, indicating a weaker Wall Street open following a turbulent week that saw benchmark Treasury yields surge to multi-decade peaks.

Boeing shares fell 1.9% after the company identified a software glitch on its 737 MAX that can disable an automated navigation function during landing following a missed approach. The issue emerged after a cockpit software update and may occur when pilots alter their planned flight path.

Kodiak Sciences surged by 31.9% in premarket trading after releasing topline results from the pivotal DAYBREAK Phase 3 study, which evaluated two investigational therapies for patients with wet age-related macular degeneration. The company's shares indicated that the data met or exceeded the study's primary endpoint of non-inferiority in visual acuity gains compared to aflibercept.

Roblox fell by 4% after Jefferies downgraded the stock to Underperform from Hold and cut its price target to $38, citing concerns about the company's user growth and monetization prospects. Circle Internet Group shares also declined by 3.5% following CFO Jeremy Fox-Geen's announcement that he would step down at the end of December 2026.