Wall Street skycrapers ©Shutterstock US stock index futures traded cautiously on Tuesday after the Dow Jones Industrial Average reached a record high in the previous session, while investors weighed another strong earnings update from Samsung Electronics (USOTC:SSNHZ) alongside fresh comments from Federal Reserve Governor Christopher Waller. Futures pause after Wall Street records By 03:02 ET (07:02 GMT), futures linked to the Dow Jones Industrial Average were little changed. S&P 500 futures slipped 16 points, or 0.2%, while Nasdaq 100 futures fell 233 points, or 0.8%. Wall Street closed higher on Monday, with the Dow Jones surpassing the 53,000 mark for the first time. Technology stocks led the advance, particularly semiconductor companies including Advanced Micro Devices (NASDAQ:AMD) and Western Digital (NASDAQ:WDC). Broadcom (NASDAQ:AVGO) also gained after announcing a partnership with Apple to develop custom chips, helping the Philadelphia Semiconductor Index recover from last week’s decline. However, analysts at Deutsche Bank noted that the headline gains masked broader weakness beneath the surface. “On paper the headlines were pretty decent,” the analysts, led by Jim Reid, wrote in a research note. “But under the surface, things weren’t quite as robust as they seemed.” Samsung posts record profit but shares decline Samsung Electronics delivered another indication of continued strength in demand for artificial intelligence infrastructure, reporting preliminary second-quarter operating profit that was almost 20 times higher than a year earlier. The South Korean technology group expects operating profit of 89.4 trillion won, or roughly US$58 billion, for the quarter ended June, compared with 4.7 trillion won during the same period last year. The figure also exceeded the company’s combined earnings for 2024 and 2025. Despite the record performance, Samsung shares fell by more than 6% in Seoul, reflecting investors’ exceptionally high expectations for AI-related semiconductor companies. Waller reiterates commitment to inflation target Markets also focused on remarks from Federal Reserve Governor Christopher Waller, who highlighted the changing balance of economic risks facing policymakers. With inflation remaining well above the Federal Reserve’s 2% target and concerns growing that higher memory chip prices and rising energy costs linked to tensions with Iran could add further inflationary pressure, Waller said the policy landscape has changed significantly. He noted that policymakers are no longer primarily concerned about labour market weakness, arguing instead that employment conditions have stabilised while inflation is “taking off.” Waller also stressed that the Federal Reserve’s 2% inflation objective remains both credible and non-negotiable. Major US banks reportedly explore payments network acquisition According to The Wall Street Journal, several of the largest US banks have explored acquiring a debit payments network that could allow them to reduce the impact of federal limits on debit-card interchange fees. The report said JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC) and PNC Financial Services (NYSE:PNC) have held preliminary discussions regarding the possible acquisition of either the STAR or Accel debit networks owned by Fiserv (NASDAQ:FISV). While discussions remain at an early stage and several institutions are reportedly unlikely to pursue a transaction, ownership of a payments network could enable banks to process debit transactions through their own infrastructure and potentially reduce the impact of fee restrictions introduced under the Durbin Amendment. Strait of Hormuz tensions return Geopolitical risks also remained elevated after Axios reported that Iran fired at least two missiles at commercial vessels transiting the Strait of Hormuz on Monday evening, ending a week-long pause in attacks under an informal understanding between Washington and Tehran. According to the report, two commercial ships sustained significant damage, although no casualties were reported. Axios said the United States is expected to consider retaliatory strikes against Iranian targets. Separately, the UK Maritime Trade Operations agency confirmed it had received reports that a tanker travelling near the coast of Oman had been struck by an unidentified projectile, causing a fire onboard. The reported attacks came after indirect negotiations between the United States and Iran in Doha failed to produce meaningful progress on maritime security in the strategically important shipping corridor. Samsung stock price Advanced Micro Devices stock price Western Digital stock price Broadcom stock price JPMorgan Chase stock price Bank of America stock price Wells Fargo stock price PNC Financial Services Group stock price Fiserv stock price
