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Dow futures dip after blue-chip index posts strongest first-half performance since 2021
Dow Jones Industrial Average futures declined 83 points, or 0.2%, on Tuesday night after the 30-stock index posted its best first-half performance in five years. S&P 500 futures and Nasdaq 100 futures were near flat following regular sessions where all three major averages rose. The Dow added 136.46 points (0.26%), the S&P 500 gained 0.79%, and the Nasdaq Composite jumped 1.52%. For the first six months of 2026, the Dow rose 8.9%—its strongest first half since 2021. The S&P 500 climbed 9.6%, the Nasdaq advanced 12.8%, and the small-cap Russell 2000 surged nearly 22%, marking its best first half since 1991. Driving the market was a surge in chip and AI-related stocks; a record chip rally added $2 trillion in combined market capitalization to Micron, Intel, and Advanced Micro Devices in the second quarter. Paul Hickey, co-founder of Bespoke Investment Group, said he still likes the semiconductor sector long-term but cautioned it may be getting too hot, suggesting investors "take a breather" as the AI-driven bull market may be extended. On Wednesday, Federal Reserve Chairman Kevin Warsh will speak at the European Central Bank Forum on Central Banking in Sintra, Portugal. Warsh has been remaking the Fed through new task forces reviewing monetary strategies, and traders anticipate a possible rate hike to combat inflation. Economic data due Wednesday includes June's ADP employment survey, ISM manufacturing index, and final global PMI manufacturing readings.