S&P 500 Futures Mixed Ahead of Jobs Data After AI Rotation

After closing at a record 7,499.36 on June 30, the S&P 500 fell 0.47% on July 1 as chip and AI stocks reversed gains amid softer ADP employment data. The index had rebounded sharply from a June 26 weekly drop of nearly 2% triggered by geopolitical tensions, climbing 1.17% on June 29 after U.S.-Iran de-escalation reports eased risk-off sentiment. Markets now turn to the June jobs report and Tesla deliveries, with rotation evident from hardware to software names within AI.