A pause in talks between the U.S. and Iran have futures taking a step back ahead of Wednesday's opening bell. Tom White turns to the trading action and explains how persisting headwinds keep markets pressured. He then discusses the AI memory trade and whether companies like Micron (MU) and SanDisk (SNDK) can keep up with record demand. Tom touches on Nike (NKE) stepping down toward a near 12-year low and Meta Platforms (META) reportedly in talks to buy Kalshi.