US open: Stocks fall as AI IPO doubts grow, oil surges past $108

(Sharecast News) - Major indices were in the red at the open on Monday as investors assessed fresh uncertainty around the artificialintelligence IPO pipeline and monitored another jump in oil prices.

As of 1545 BST, the Dow Jones Industrial Average was down 0.47% at 52,326.20, while the S&P 500 shed 0.77% to 7,598.38 and the Nasdaq Composite came out of the gate 1.07% weaker at 26,052.25.

The Dow opened 247.09 points lower on Monday, taking a bite out of gains recorded in the previous session as US stocks rose for the first time in five days after a much-anticipated inflation report cemented expectations for a Federal Reserve rate hike next week.

Stocks headed south after an interview with OpenAI chief executive Sam Altman published over the weekend said the company would not pursue a stockmarket listing this year, calling an IPO "illadvised" just a month after CFO Sarah Friar suggested the group would go public by 2027 at the latest. The comments add to growing questions over how quickly major AI firms will reach public markets.

Separately, Anthropic CEO Dario Amodei used an essay released on Saturday to urge the industry to slow the pace of frontiermodel development due to safety risks. He told CBS News that the biggest challenge for any slowdown would be how to respond if China continued to accelerate its own AI efforts. The weekend's remarks come amid heightened scrutiny of the sector following warnings from a former Anthropic researcher about existential risks.

The AI boom has been a major driver of equitymarket gains and corporate investment in recent years, but the latest developments suggest the scale and timing of publicmarket benefits may be less certain than previously assumed.

Energy prices were also drawing an amount of investor attention prior to the open as oil prices rose after Saudi Arabia shut a key pipeline that bypasses the Strait of Hormuz. At the open, Brent crude futures were up 4.14% at $108.94 a barrel, while West Texas Intermediate crude was up 3.99% at $104.04 a barrel.

In the corporate space, Dave & Busters Entertainment was scheduled to publish its latest quarterly earnings figures after the close.

No major data points were scheduled for release on Monday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Salesforce.Com Inc. (CRM) $253.66 2.08%

McDonald's Corp. (MCD) $256.97 1.88%

Walt Disney Co. (DIS) $108.48 1.79%

Unitedhealth Group Inc. (UNH) $383.63 1.32%

Coca-Cola Co. (KO) $89.34 1.30%

Johnson & Johnson (JNJ) $269.20 1.27%

Cisco Systems Inc. (CSCO) $110.79 1.23%

Visa Inc. (V) $374.52 1.12%

Nike Inc. (NKE) $37.13 1.05%

Verizon Communications Inc. (VZ) $50.98 0.97%

Dow Jones - Fallers

Intel Corp. (INTC) $96.92 -4.33%

Caterpillar Inc. (CAT) $788.07 -3.62%

Goldman Sachs Group Inc. (GS) $1,003.24 -2.54%

3M Co. (MMM) $161.16 -2.12%

Amgen Inc. (AMGN) $377.70 -1.66%

JP Morgan Chase & Co. (JPM) $352.84 -0.99%

Boeing Co. (BA) $208.80 -0.72%

Dow Chemical Co. (DOW) $28.88 -0.19%

Apple Inc. (AAPL) $332.91 -0.12%

S&P 500 - Risers

Cognizant Technology Solutions Corp. (CTSH) $62.66 6.46%

Intuit Inc. (INTU) $333.95 5.33%

Gartner Inc. (IT) $188.12 5.22%

Adobe Systems Inc. (ADBE) $260.76 4.86%

Apache Corp. (APA) $46.28 4.68%

Fortinet Inc. (FTNT) $165.99 4.62%

Verisk Analytics Inc. (VRSK) $184.61 4.52%

Stryker Corp. (SYK) $285.22 3.97%

Autodesk Inc. (ADSK) $222.27 3.96%

Netflix Inc. (NFLX) $79.87 3.84%

S&P 500 - Fallers

Hewlett Packard Enterprise (HPE) $55.64 -10.38%

Corning Inc. (GLW) $150.68 -9.21%

Coterra Energy Inc. (CTRA) $32.56 -8.62%

Lam Research Corp. (LRCX) $279.35 -7.14%

Micron Technology Inc. (MU) $917.40 -6.29%

Eaton Corporation plc (ETN) $398.48 -6.21%

Western Digital Corp. (WDC) $429.78 -5.93%

Applied Materials Inc. (AMAT) $429.04 -5.85%

Skyworks Solutions Inc. (SWKS) $83.04 -5.34%

Johnson Controls International plc (JCI) $137.98 -5.32%

Nasdaq 100 - Risers

Check Point Software Technologies Ltd. (CHKP) $139.58 7.26%

Cognizant Technology Solutions Corp. (CTSH) $62.66 6.46%

Intuit Inc. (INTU) $333.95 5.33%

Adobe Systems Inc. (ADBE) $260.76 4.86%

Verisk Analytics Inc. (VRSK) $184.61 4.52%

Autodesk Inc. (ADSK) $222.27 3.96%

Netflix Inc. (NFLX) $79.87 3.84%

Charter Communications Inc. (CHTR) $145.06 2.61%

eBay Inc. (EBAY) $108.39 2.12%

Gen Digital Inc. (GEN) $30.89 2.02%

Nasdaq 100 - Fallers

Qvc Group Inc Series A (QVCGA) $0.34 -13.49%

Lam Research Corp. (LRCX) $279.35 -7.14%

Micron Technology Inc. (MU) $917.40 -6.29%

Asml Holdings N.V. (ASML) $1,603.65 -6.16%

Western Digital Corp. (WDC) $429.78 -5.93%

Applied Materials Inc. (AMAT) $429.04 -5.85%

Skyworks Solutions Inc. (SWKS) $83.04 -5.34%

Seagate Technology Plc (STX) $797.97 -5.07%

Broadcom Inc. (AVGO) $346.07 -4.83%

KLA-Tencor Corp. (KLAC) $171.23 -4.38%