Stock futures fall as investors weigh AI safety concerns, oil gains: Live updates
The three major averages are coming off a losing week.
TL;DR
- Stock futures fell due to concerns over AI IPOs and rising oil prices.
- OpenAI's CEO stated an IPO would be 'ill-advised' this year.
- Rival Anthropic's CEO suggested slowing AI innovation due to safety risks.
- Oil prices rose over 2% after Saudi Arabia closed a critical pipeline bypassing the Strait of Hormuz.
- The stock market experienced a pullback last week, with the Dow, S&P 500, and Nasdaq Composite all declining.
- The Federal Reserve is scheduled to hold its September policy meeting this week.
- Shein shares dropped 10% following a recall of its contact lens cleaner in Australia and New Zealand due to bacterial contamination.
- Z.ai shares tumbled over 10% after announcing plans for a $5 billion fundraising round.