On July 7, 2026, U.S. stock futures fell after Samsung's quarterly results led to renewed selling in chip stocks, with the Nasdaq down 1% and S&P 500 down 0.2%. Samsung reported a 19-fold increase in Q2 operating profit due to demand for artificial intelligence, but concerns over its AI spending plans caused investor anxiety. This downturn followed a previous rally that saw the Dow reach a record high above 53,000. Additionally, oil prices rose amid tensions in the Strait of Hormuz, with Brent crude surpassing $72 per barrel.

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Stock market today: S&P 500, Nasdaq futures slip after Samsung results spark chip sell-off

Amalya Dubrovsky and Grace O'Donnell

Updated Tue, July 7, 2026 at 7:57 AM EDT1 min read

US stock futures fell on Tuesday after Samsung's ( 016360.KS) quarterly results sparked renewed selling in chip stocks and oil prices edged higher.

Futures attached to the Dow Jones Industrial Average (YM=F) rose 0.2% on the heels of a record-setting day on Wall Street, while contracts on the S&P 500 (ES=F) and the Nasdaq 100 (NQ=F) fell 0.2% and 1%, respectively.

Volatility continued in the tech trade after Samsung reported colossal profits in the second quarter. Surging demand for artificial intelligence helped lift Samsung's Q2 operating profit 19-fold; however, concerns about its AI spending plans and future demand spooked investors, leading to broader selling pressure across the semiconductor sector.

The pullback in tech stocks weighed on markets on Tuesday following a rally the day before that lifted the Dow ( ^DJI) to a record high above 53,000. The S&P 500 and Nasdaq also gained on Monday amid renewed faith in the AI trade following June's chip stock sell-off.

Meanwhile, oil prices rose following reports of Iranian attacks on commercial ships in the Strait of Hormuz. Traffic through the critical waterway had been gradually picking back up, though markets remain attuned to the risk of the fragile US-Iran peace deal breaking down. Brent crude oil futures ( BZ=F) rose above $72 per barrel while those on WTI crude oil ( CL=F) climbed to $69 per barrel .