Market Summary - July 24, 2026

The US equity markets are experiencing a downturn, with the Nasdaq hitting a one-month low as geopolitical tensions and inflation concerns weigh heavily on investor sentiment. The Nasdaq 100 futures (US100) are leading the losses, down 1.4%, and are currently testing significant support levels, particularly the 100-day exponential moving average (EMA).

Market Overview

As investors navigate through rising inflation expectations and geopolitical headwinds, the overall market sentiment remains cautious. The Nasdaq 100 is facing persistent selling pressure, having broken below its 10-day and 30-day EMAs. The S&P 500 and Russell 2000 futures are only modestly down, indicating a rotation of capital towards more traditional companies, as evidenced by the Dow Jones futures showing a slight increase of 0.1%.

Technical Analysis

The Nasdaq 100 futures are currently hovering around a critical technical junction at 28,320, with the 100-day EMA at 28,389 and local horizontal support at 28,409. A sustained breakdown below this support zone could lead to deeper losses, while a defense of this long-term moving average could see a bounce towards initial resistance at the 23.6% Fibonacci retracement level near 28,966. The Relative Strength Index (RSI) is at 38.7, indicating that downside momentum is dominating, although it is approaching oversold territory.

Company News

• Oracle (ORCL): Shares gained 2.3% in extended trading after securing a 10-year contract with the US Department of Defense worth $3.31 billion, but are currently down 3.2%.
• Verizon (VZ): Despite beating Q2 EPS estimates, shares fell 1.2% premarket but are currently up 2.7% after raising its full-year EPS forecast.
• Intel (INTC): Shares rose over 3% premarket on strong Q3 revenue forecasts driven by AI demand, but are currently down 3%.
• American Express (AXP): Shares dropped over 3% premarket after slightly missing revenue expectations, currently down 5.8%.
• AMD (AMD): Shares rose 1% premarket following positive analyst reviews but are currently down 2%.

Conclusion

The market is currently facing significant challenges, particularly in the tech sector, as investors remain wary of geopolitical risks and inflationary pressures. The performance of individual stocks varies, with some companies showing resilience while others struggle to meet market expectations.