Chip stocks rebound outweighs Iran tensions, US stock futures rise

Glonghui July 21｜U.S. stock index futures rose on Tuesday as core chip stocks in the AI industry chain rebounded, temporarily offsetting market pressure from renewed U.S.-Iran tensions. S&P 500 index futures and Nasdaq 100 index futures rose during the session, with share prices of Samsung Electronics and TSMC climbing, boosting sentiment for technology stocks. Most large technology stocks advanced in pre-market trading, with Tesla and NVIDIA leading the gains, while AMD, Intel, and Micron Technology also moved higher. The exchange-traded fund tracking semiconductor companies rose 4.3%. According to reports, the world’s largest wafer foundry, TSMC, plans to increase prices for some chip manufacturing services by up to 10% starting in 2027, in response to rising raw material, equipment, and overseas plant construction costs.