AI stocks dropped in overnight trading. SoundHound AI Inc fell 2%; BigBear.ai Holdings, C3.ai, Inc. fell 1%.

Quantum computing stocks mixed in overnight trading. IONQ Inc. rose 8%; Arqit Quantum Inc. rose 5%; Quantum Computing Inc. rose 4%; QUANTUM CORP fell 7%.

Chinese ADRs gained in overnight trading. KE Holdings Inc. rose 4%; Baidu, JD.com rose 2%; Li Auto rose 1%; PDD Holdings Inc rose 0.5%.

China will take steps to revive consumption by boosting people’s incomes, according to the official Xinhua News Agency, as part of a plan that adds to recent pledges by the government to support demand in an economy threatened by Donald Trump’s tariffs.

The guidelines that came from a State Council report set out other measures such stabilizing the stock and real estate markets, and offering incentives to raise the country’s birth rate. Investors await further clues from top officials during a press conference set to be held 3 p.m. Monday on steps to boost consumption.

Policymakers in China increasingly recognize that a broad recovery in incomes is necessary to encourage people to boost spending. At parliamentary meetings this month, the country’s leadership made boosting consumption the top priority of the annual work report for the first time since President Xi Jinping came to power over a decade ago.

“Households can’t spend what they don’t have,” said Lynn Song, chief economist for Greater China at ING Bank. “While there are few new details on how the government will increase spending, the details of the plan show a greater determination to tackle China’s consumption problem this year.”

The latest effort, which covers eight areas, outlines plans to improve childcare and includes a pledge to enforce China’s paid leave system. Local governments have already started to increase support for social wellbeing, with Hohhot, the capital of the Inner Mongolia Autonomous Region, announcing new childcare subsidies.

China's Baidu said on Sunday it has launched two new artificial intelligence models, including a new reasoning-focused model that it said rivalled DeepSeek's model, as it vies to stand out in a fiercely competitive AI race.

US stock futures were falling late Sunday as investors prepare for a week that features another interest rate decision by the Federal Reserve.

This weekend, President Donald Trump ordered pre-emptive airstrikes on Houthi militants in Yemen on Saturday, prompting concerns about the rebel group’s vows of retaliation and the potential for a wider escalation of the conflict.

At 9:49 p.m. Eastern time on Sunday, Dow Jones Industrial Average futures were down 0.36%; S&P 500 futures were down 0.44%; Nasdaq Composite futures were down nearly 0.46%.

Big tech stocks dropped in overnight trading. Tesla Motors, Broadcom fell nearly 1%.

Crypto stocks dropped in overnight trading. Hut 8 Mining Corp, CleanSpark, Inc. fell 2%; Strategy, Coinbase Global, Inc., and MARA Holdings fell about 1%.