US Stocks-Wall St futures gain on Iran ceasefire hopes; earnings in focus
SPY•Chip stocks and earnings remain in focus
Lately, chip stocks have come under heavy pressure, as investors question whether this year's powerful rally in the sector has gone too far.
The Philadelphia SE Semiconductor Index ended Friday more than 20% below its late-June record high, confirming a bear-market decline, though the index remains up about 66% for the year.
At 5:19 a.m. ET, Dow E-minis were up 189 points, or 0.36%, and S&P 500 E-minis were up 43 points, or 0.57%. Nasdaq 100 E-minis were up 415.75 points, or 1.44%.
Recent volatility in chip stocks, which later spread to the broader markets, pushed Wall Street's main indexes to three straight sessions of losses despite an upbeat start to the second-quarter earnings season.
Investor focus this week will turn to results from Alphabet and Intel, which could help determine whether the AI trade has further room to run amid elevated profit expectations.
