US Stock Futures Steady Ahead of Trump’s UN Address as Alibaba Unveils New AI Chip: Dow Jones, S&P, Nasdaq, Wall Street

Fiona Craig

Tue, September 22, 2026 at 12:36 PM GMT+3 6 min read

Wall Street sign in New York City ©Petr Kratochvil

US stock futures were little changed on Tuesday following a rally in technology shares during the previous session. Investors were monitoring President Donald Trump's upcoming address to the United Nations, comments from a Federal Reserve official on interest rates and the launch of a new artificial intelligence chip by Alibaba.

At 03:09 ET (07:09 GMT), Dow Jones futures were down 25 points, or 0.1%, while futures linked to the S&P 500 and Nasdaq 100 were broadly unchanged.

The S&P 500 had recorded its strongest session since August on Monday, supported by gains in AI-related companies. Oil prices and US Treasury yields also remained in focus as markets assessed developments in the Middle East.

Wall Street Futures Pause After AI-Led Rally

US equity futures traded close to unchanged levels following Monday's advance, when the S&P 500 posted its largest daily gain since August.

Technology stocks contributed to the rally after Meta Platforms (NASDAQ:META) introduced a new AI model that prompted renewed interest in the potential for autonomous AI agents to reach mainstream consumers.

Meta shares rose alongside semiconductor companies Advanced Micro Devices (NASDAQ:AMD) and Intel (NASDAQ:INTC), whose processors are used in computing systems that support AI applications.

Investors also monitored developments surrounding the United Nations General Assembly, where potential diplomatic discussions involving the United States and Iran have raised expectations of reduced tensions in the Middle East.

The benchmark 10-year US Treasury yield edged lower. Bond yields move inversely to prices.

Trump Prepares to Address United Nations

President Donald Trump is scheduled to address the United Nations General Assembly in New York as world leaders gather to discuss international security, the conflicts in the Middle East and Ukraine, and artificial intelligence safety.

US Ambassador to the United Nations Mike Waltz said Trump would:

"highlight how he has and his administration have confronted complex problems head-on around the world"

Waltz also said the president would address efforts to prevent Iran from obtaining a nuclear weapon.

The address comes amid continuing hostilities between the United States and Iran, which began in late February, according to the supplied report.

Fighting has also intensified in Yemen between Iran-backed Houthi militants and Saudi-aligned forces, creating additional concerns about oil shipments through the Bab el-Mandeb Strait.

Saudi Arabia has relied on the waterway to access international markets following severe disruption to shipping through the Strait of Hormuz.

The report states that Washington has declined Saudi requests to join military operations against the Houthis, while US forces remain engaged in protecting regional installations and supporting shipping through the Strait of Hormuz.

Trump has warned of further consequences for Iran's leadership if a settlement is not reached, while Tehran has threatened retaliation in response to additional attacks.

Nevertheless, media reports indicate that Trump has expressed willingness to meet Iranian President Masoud Pezeshkian during the UN gathering.

No confirmed meeting or diplomatic agreement was reported in the supplied material.

Despite the possibility of talks, Brent crude futures remained above $100 a barrel, rising 1% to $101.36 at the time of the report.

Fed Official Signals Potential Need for Another Rate Increase

St. Louis Federal Reserve President Alberto Musalem said the US central bank may need to raise interest rates again to address inflationary pressures associated with energy prices.

In comments to Reuters on Monday, Musalem argued that acting promptly could be preferable to delaying further monetary tightening.

He said:

"Persistent demand and recurring supply forces are continuing to contribute to keeping inflation risks elevated, and I judge that without further policy restraint on inflation it is more likely to be substantially above our 2% target in 18 months than at target."

Musalem did not specify the interest rate level he considered necessary to bring inflation under control.

He is not currently a voting member of the Federal Open Market Committee, which sets US monetary policy.

The Federal Reserve raised interest rates by 25 basis points last week. Updated policymaker projections and comments from Fed Chair Kevin Warsh also indicated the possibility of another increase before the end of 2026.

Investors are assessing the implications of further tightening for economic growth, borrowing costs and equity valuations.

Alibaba Introduces Zhenwu V900 AI Accelerator

Alibaba Group (NYSE:BABA) unveiled a new artificial intelligence chip on Tuesday and announced plans to expand its data centre capacity over the coming years.

Chief Executive Eddie Wu introduced the Zhenwu V900 accelerator at the company's annual Apsara Conference in Hangzhou.

Alibaba described the processor as China's most powerful AI chip, although that claim was presented by the company rather than independently verified in the supplied report.

Wu said the V900 delivers three times the performance of its predecessor, the Zhenwu M890.

During his keynote address, he stated:

"The Zhenwu V900 is the most powerful AI chip in China today, delivering three times the performance of its predecessor, the Zhenwu M890."

Alibaba also said the accelerator can be deployed in clusters containing up to 500,000 units to train advanced AI models.

The announcement forms part of the company's plans to expand its computing infrastructure and AI capabilities.

The supplied report does not provide pricing, production volumes or a timetable for the planned data centre expansion.

Paramount Reaches Settlement Over Warner Bros Discovery Acquisition

Paramount Skydance (NASDAQ:PSKY) reached a settlement on Monday with California and 11 other US states that had challenged its proposed $110 billion acquisition of Warner Bros Discovery (NASDAQ:WBD).

The agreement resolves the states' lawsuit seeking to block the transaction, although the supplied report does not establish that all other closing conditions have been satisfied.

California Attorney General Rob Bonta outlined several commitments included in the settlement.

Paramount must increase domestic film production spending by at least $300 million annually and raise the number of films it produces after the acquisition closes.

The company is required to produce 30 films annually during the first two years following completion and 32 films annually during each of the subsequent three years.

At least four productions each year must be independent films, while a minimum of 20% of the annual output must consist of blockbuster productions.

The settlement also requires Paramount to establish a news editorial independence board intended to protect editorial independence at CBS and CNN.

The commitments address film production and news operations as part of the agreement with the states.

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