AI rally fades away from Wall Street as a tiny IPO makes big waves

This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Hello, this is Leonie Kidd, with today's edition of Morning Squawk. Wall Street's AI relief rally hit a wall in Asia and Europe, turning the neoclouds dark on the horizon. It puts more emphasis on earnings today, with Netflix and SpaceX in the spotlight. U.S. stock futures are giving up some of their overnight optimism following the bounceback for AI stocks on Monday, as a sharply negative session in Asia shows jitters remain around technology stocks. A negative close for CoreWeave , as well as elevated yields on Oracle debt, expose persistent credit concerns in the AI trade.