US stock market today: Wall Street futures edge lower as chip stocks retreat; crude oil extends gains

US stock futures traded mixed on 16 July, with S&P 500 futures down 0.1% and Nasdaq 100 futures slipping 0.4%, while Dow Jones futures rose 145 points. Chip stocks retreated on valuation concerns and doubts over AI hyperscaler demand, even as software names like Alphabet gained. Crude oil extended a four-session rally, with Brent at $85.28 and WTI at $80.02, after US strikes on Iranian facilities near the Strait of Hormuz revived fears of a broader regional conflict; Goldman Sachs warned Brent could exceed $110 per barrel in Q4 if Gulf export disruptions persist.