Semiconductor stocks have led global equity markets during the artificial intelligence boom, but investor confidence is beginning to show signs of caution ahead of a new round of earnings reports from major technology companies.

A temporary pause in U.S.–Iran hostilities brought brief relief to global markets, easing crude prices toward $83 per barrel and pulling the Dollar Index down to 101.10. However, underlying sentiment remains cautious ahead of the Federal Reserve policy decision and major tech earnings.

US stock futures edged lower as chipmakers extended their decline.