Stock futures are holding steady, reflecting cautious optimism despite geopolitical tensions in the Middle East and enthusiasm for AI advancements. The S&P 500 has extended its record streak, indicating strong market confidence. Chip stocks are leading the rally, with the semiconductor sector surging over 90% since March, fueled by expectations of increased AI infrastructure investment. Marvell Technology shows remarkable gains, supported by positive comments from Nvidia's CEO. On the economic front, investors are focused on key reports, including services and private sector payroll numbers for May, which will offer clues on the US economy's health and the labor market. Geopolitical concerns are high due to US and Iranian forces exchanging strikes, dampening hopes for a swift resolution to their conflict and raising fears of prolonged disruptions to global energy supplies and economic stability. Brent crude oil prices have risen over 2%, reflecting market concerns about supply constraints amidst stalled US-Iran talks. This increase adds to inflation pressures and could influence central banks' decisions on interest rates. The US administration has proposed at least 10% tariffs on imports from 60 countries linked to forced labor practices, aiming to protect American businesses and workers from unfair competition and impact global trade dynamics. SpaceX is gearing up for a monumental initial public offering, targeting a valuation of $1.75 trillion, marking a significant milestone in the technology and space exploration sectors.