Pedestrians outside the Nasdaq MarketSite in New York, US, on Friday, Oct. 16, 2026. <\/p>\n
Michael Nagle | Bloomberg | Getty Images<\/p>\n
Hello, this is Hui Jie writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open.<\/p>\n
After a bruising week for the tech trade, investors seem to have came back into the sector, with the Nasdaq Composite rallying overnight. <\/p>\n
The optimism is cautious, with debt concerns still a key worry for a sector that has seen record bond issuance this year.<\/p>\n
What you need to know today<\/p>\n Investors are once again piling into tech, after fears over AI financing, rising competition and possible excess chip supply in a few years drove them to cash out of the market last week.<\/p>\n The Nasdaq Composite rebounded<\/a> more than 1% on Monday, after sliding 4.5% last week and\u00a0snapping a four-week winning streak.<\/p>\n Intel<\/a> advanced 2% after JPMorgan analysts upgraded their rating on the chipmaker. Advanced Micro Devices<\/a> added 1.8%, and Micron Technology<\/a> jumped about 3%.<\/p>\n It was not a wholesale embrace of the sector, however. Funding concerns still loom, especially over neocloud companies. <\/p>\n Shares of neocloud mainstay CoreWeave<\/a> reversed course from earlier gains, falling 0.4%, even after receiving Goldman Sachs<\/a> upgraded the stock to buy from neutral.<\/p>\n CoreWeave shares plunged more than 25% last week \u2014 their biggest one-week drop since November 2025 \u2014 over debt concerns.<\/p>\n Another company that is also facing credit stress is Oracle<\/a>. It risks a credit rating downgrade that could tip its debt into junk territory. Oracle’s rating at S&P Credit Ratings is BBB-, the lowest level in the investment-grade spectrum. <\/p>\n While the bonds are still investment grade, the shift in sentiment can be seen in the spread of Oracle’s five-year credit default swaps, which are insurance against default. <\/p>\n Oracle’s five-year CDS spread, or premium, is currently at 295 basis points, after briefly hitting 300 basis points on Thursday. It is up 287% in one year.<\/p>\n The range is more in line with BB and B credit, which is high yield, said Gavan Nolan, executive director of fixed income pricing at S&P Global Market Intelligence.<\/p>\n The last AI IPO for 2026?U.S.-Ukraine spat continues<\/p>\n On the geopolitical front, the tensions between Washington and Kyiv continue to rise<\/a> with President Donald Trump<\/a> saying Monday he would meet<\/a> with Russian President Vladimir Putin<\/a> and Chinese President Xi Jinping<\/a> to discuss how to end the Ukraine war. <\/p>\n That comes after the Wall Street Journal reported that Putin in an Oct. 9 phone call with Trump had floated the idea of a trilateral summit with Xi next month, although the meeting is envisioned to exclude Ukrainian President Volodymyr Zelenskyy.<\/p>\n “Anything I can do to end the war, whether somebody’s there or not,” Trump told reporters when asked about the potential meeting as he departed the White House for a campaign rally in Kansas.<\/p>\n Trump also doubled down on his criticism of the Ukrainian leader when he was asked about Zelenskyy’s remarks that Trump is on the wrong side of history<\/a>, saying that “Zelenskyy doesn’t know what he’s talking about,” and reiterating his call for Kyiv to “get a new president.”<\/p>\n \u2014 Lim Hui Jie<\/p>\n And finally…<\/p>\n Elon Musk says he\u2019ll give a SpaceX share to every child in America next year<\/a><\/p>\n SpaceX<\/a> CEO Elon Musk<\/a> said Monday that he’ll give every child in the U.S. one of his shares in the company next year.<\/p>\n Musk currently owns about 4.8 billion SpaceX shares, according to an August SEC filing. That figure rises to 6.4 billion when taking into account unvested awards and stock options, representing a 48.4% beneficial stake in the company.<\/p>\n There were 72 million children under 18 in the U.S. as of July 1, 2025, according to official census data.<\/p>\n That would amount to the CEO giving away about $10.5 billion worth of shares, taking into account SpaceX’s closing stock price of $146.03 as of Friday.<\/p>\n \u2014 Kai Nicol-Schwarz, Lora Kolodny<\/p>\n","protected":false},"excerpt":{"rendered":"Pedestrians outside the Nasdaq MarketSite in New York, US, on Friday, Oct. 16, 2026. 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