AI stocks lead a rebound on Wall Street as European markets drop following protests

• AI stocks rebound partially after last week's selloff over borrowing-cost worries • European markets and bond yields fall on protests over cost-of-living and budgets • Investors await earnings from Meta and Lam Research for AI spending signals AI stocks clawed back some losses Monday after last week's steep selloff, though markets worldwide remained unsettled. The S&P 500 rose 0.4%, the Nasdaq gained 0.9%, while the Dow slipped 44 points. European indexes fell over 1% (Paris down 1.5%) after weekend protests over living costs raised fears of higher government spending and bond yields, even as oil prices dropped. AI stocks, driven to record highs by massive spending on chips and data centers, had tumbled last week on fears that rising borrowing costs could threaten the boom. CoreWeave rose 0.6% Monday after losing a quarter of its value last week. Nvidia gained 0.6%. SpaceX rose 1.6% to $148.38 after Elon Musk pledged to give a share to every American child next year, following Anthropic's pledge to commit 5% of its IPO shares to a public benefit fund. Investors now await earnings from Meta Platforms and Lam Research on Wednesday for more clues on AI spending strength. Analysts expect 29% profit growth for S&P 500 companies from a year earlier. Cleveland-Cliffs jumped 7.7% on stronger-than-expected quarterly profit. South Korea's Kospi rose 1.8%, recovering part of last week's 14.5% drop, led by Samsung Electronics and SK Hynix. In bonds, the 10-year Treasury yield rose to 5.10% from 5.09%. French yields climbed on budget worries while Brent crude fell 1.6% to $108.13 per barrel, still near its highest since May amid uncertainty over the Iran conflict.