AI Investment Surge and Middle East Tensions: Nasdaq Futures Rise 0.46% on Chip Stocks

September Nasdaq 100 E-Mini futures (NQU26) are climbing +0.46% this morning, driven by strong performance in AI-linked chip stocks and optimism surrounding SK Hynix's U.S. listing, which has reportedly attracted over sevenfold oversubscription. Micron Technology, Marvell Technology, and Intel are each up more than +3%, reflecting sustained investor appetite for semiconductor and AI infrastructure plays. However, rising geopolitical tensions in the Middle East—following U.S. strikes on 90 Iranian military sites and Iran's retaliatory attacks on U.S. bases in Bahrain, Kuwait, and Qatar—are keeping markets on edge, though WTI crude prices remain volatile rather than sharply reactive. Investors are now awaiting U.S. jobless claims data and commentary from Federal Reserve officials. On the downside, software stocks like Workday and Intuit slipped over -4% and -3% respectively, while travel-related equities such as Carnival and American Airlines Group fell more than -3% amid surging oil prices. Navitas Semiconductor dropped over -4% after Wolfspeed filed a patent infringement lawsuit. Economic indicators showed a surprise decline in U.S. consumer credit (-$0.18 billion) and downward revisions to May wholesale inventories (+0.1% m/m), underscoring lingering inflationary pressures. FOMC minutes from the June 16-17 meeting revealed growing concerns over inflation risks, with policymakers signaling potential rate hikes if price pressures persist due to Middle East conflicts, tariffs, or robust AI-driven demand. Conversely, officials noted that rate cuts could be on the table if inflation eases in the near term, highlighting a cautious balancing act amid evolving macroeconomic and geopolitical dynamics.