S&P 500, Nasdaq futures fall as chip stocks surge in Q2 2026
Key takeaways
- A gain of 8.9% for the Dow over the January-through-June stretch represented the index's strongest first-half result in five years.
- A record-breaking run in chip equities saw $2 trillion flow into the combined valuations of Micron, Intel, and Advanced Micro Devices between April and June.
- Paul Hickey, co-founder of Bespoke Investment Group, told CNBC's "Closing Bell: Overtime" on Tuesday that the group still holds long-term promise but cautioned against chasing it at current levels.
S&P 500, Nasdaq futures fall as chip stocks surge in Q2 2026 S&P 500, Nasdaq futures fall as chip stocks surge in Q2 2026 · Quartz · I-Hwa Cheng/Bloomberg via Getty Images Cris Tolomia Wed, July 1, 2026 at 6:37 PM GMT+7 2 min read ^IXIC ^DJI ^GSPC ^RUT ^NDX U.S. stock futures are declining to open the third quarter, with traders focused on comments from Federal Reserve Chairman Kevin Warsh that could signal the path of interest rates. The Dow Jones Industrial Average futures were down 105 points, a decline of 0.2%, with S&P 500 futures off 0.2% and Nasdaq 100 futures 0.4% lower.
The pullback follows a strong first half of 2026. A gain of 8.9% for the Dow over the January-through-June stretch represented the index's strongest first-half result in five years. The S&P 500 rose 9.6% and the Nasdaq gained 12.8% over the same period. Nearly 22% in first-half appreciation made the Russell 2000's 2026 opening stretch the index's best since 1991, according to CNBC.
Chip stocks were a major driver of those gains. A record-breaking run in chip equities saw $2 trillion flow into the combined valuations of Micron, Intel, and Advanced Micro Devices between April and June.