Market Summary - July 28, 2026

Market Overview

The US market is currently experiencing a deeper sell-off, with conflicting price signals and uncertainties affecting investor sentiment. The ongoing conflict in the Middle East is in a de-escalation phase, while technology companies are under scrutiny as they approach earnings reports. Investors are also speculating on the new Federal Reserve Chair's adherence to traditional monetary policies.

Market Performance

At the Wall Street open, the following indices were noted:

• US500: Down by 0.3%
• US100: Down by 1.5%
• US30: Up by 0.5%

Sector Highlights

Within the NASDAQ100 technology index, Software as a Service (SaaS) companies are showing strong gains, particularly:

• Shopify
• Workday

Conversely, semiconductor and memory stocks are facing downward pressure.

Company News

• Applied Digital (APLD.US): Reported better-than-expected results, turning an EPS loss of $0.04 into a profit of $0.19, with revenue at $258 million, more than double the consensus estimate. Stock up over 5%.
• Amkor Technology (AMKR.US): Down over 10% following an earnings call with a disappointing sales outlook.
• Carrier Global (CARR.US): Down more than 4% after Q2 2026 results fell short of expectations.
• Coca-Cola (KO.US): Reported Q2 2026 EPS of $0.97, exceeding expectations, and raised its full-year organic growth forecast to 5%. Shares up around 3%.
• S&P Global (SPGI.US): Down more than 5% after disappointing profitability results in Q2 2026.

Technical Analysis

The US100 index has broken below the resistance defined by the EMA100 moving average, approaching the 161.8% Fibonacci extension of the May upswing. The RSI (14) has reached its lowest level since March 2025, falling below 35.

Macroeconomic Data

Upcoming economic indicators include the Conference Board Consumer Confidence reading, expected to rise to 92.1. Additionally, the API crude oil inventories report is anticipated, with a market consensus predicting a decline of approximately 1.35 million barrels, contrasting with a previous increase of 2.6 million barrels.