Traders work on the floor of the New York Stock Exchange during morning trading on July 17, 2026 in New York City.
Michael M. Santiago | Getty Images
Stock futures were relatively unchanged on Sunday after the three major stock averages fell for the week.
S&P500 futures Although it fell by 0.1%, Nasdaq 100 futures It traded near the flatline. Futures linked to the Dow Jones Industrial Average It was 84 points (0.2%) lower.
Pressure on semiconductor stocks weighed on sentiment last week, with the three major U.S. indexes closing in the red. The S&P 500 fell 1.6%, the Nasdaq Composite fell 2.9% and the Dow 30 fell 0.9%. moreover, VanEck Semiconductor ETF (SMH) For the week, it fell for the third time in four weeks, dropping nearly 9%.
Jonathan Krinsky, chief market technologist at BTIG, believes further declines in semiconductor prices are expected.
“Certainly there could be a bounce here in the short term, but I don’t see any signs of a really big crash that we’re hoping for,” he said Friday on CNBC’s “Closing Bell: Overtime.” “It’s probably too early to just look at what happened two weeks ago. In fact, stocks like Micron were on a record rally, so I think it’s probably too early to look for a bottom there.”
Traders continue to monitor the Middle East conflict, with tensions between the US and Iran rising over the weekend.
The U.S. military struck Iran for the eighth straight night on Sunday, as Iran steps up airstrikes on U.S. military bases in the region. The escalation of hostilities has increased the strain on the fragile ceasefire between the two countries.
U.S. Central Command has announced that a third service member has been killed in recent combat. Centcom also announced that U.S. forces had “discovered unidentified bodies” near the site of an Iranian attack that killed two people in Jordan on July 17. The United States is working to identify the remains.
Crude oil futures rose as a result. us West Texas Intermediate Futures Despite international benchmarks, it last traded above $85 per barrel, up 3% brent crude oil futures It rose 3% to more than $91 per barrel.
Traders are also awaiting the latest earnings release, which is expected to fall this week. “Magnificent Seven” members alphabet and tesla Some people report after the bell on Wednesday. intel The product, which fell 13% last week amid a chip price decline, is scheduled to go on sale Thursday.
