On Monday evening, S&P 500 futures were down 0.3% after a strong performance in chip stocks had previously lifted the index by 0.3%. The Nasdaq 100 futures fell by 0.4%, while Dow Jones Industrial Average futures dropped by 84 points, or 0.2%. Chip stocks have been a significant driver of market performance, with the tech-heavy Nasdaq Composite seeing a 0.86% increase. However, Brian Kersmanc, a portfolio manager at GQG Partners, raised concerns about the sustainability of this upward trend, comparing the rapid price increases in chip stocks to commodities. Meanwhile, geopolitical tensions escalated as Iran's missile attacks prompted Israel to conduct a large-scale strike on Iranian defense systems, although U.S. President Donald Trump suggested a potential ceasefire. Traders are also preparing for upcoming earnings reports from major companies, including United Natural Foods and J.M. Smucker, as well as key economic indicators such as wholesale inventories and home sales.