U.S. stock futures dip ahead of Fed Chair remarks, capping a record first-half surge driven by $2 trillion in chip stock gains.
U.S. stock futures edged lower early Tuesday as investors parsed potential Federal Reserve signals on interest rates. Dow Jones Industrial Average futures fell 105 points, or 0.2%, while S&P 500 and Nasdaq 100 futures declined 0.2% and 0.4%, respectively.
The pullback follows a robust first half of 2026, with the Dow rising 8.9%, the S&P 500 up 9.6%, and the Nasdaq gaining 12.8%. Chip stocks led the rally, adding $2 trillion to the combined valuations of Micron, Intel, and Advanced Micro Devices in Q2 alone.
Analysts cautioned against chasing the sector at current levels, citing recent gains as potentially overextended. Markets await comments from Fed Chair Kevin Warsh at a central bank conference in Sintra, Portugal.