Market Summary - July 21, 2026

On July 21, 2026, the US markets experienced a rebound driven primarily by the semiconductor sector, which had previously faced significant selloffs. This resurgence in demand was felt across major markets, starting from Asia, moving through Europe, and into the US. Most US stock indices recorded gains, with the NASDAQ showing a notable increase of over 1% in futures trading.

Market Dynamics

Despite the positive market movement, there were some negative developments. The US imposed additional tariffs on Canada, affecting various consumer products and construction materials. Additionally, there was speculation about a potential 10-day ceasefire between the US and Iran, which, while fragile, was taken seriously by the market.

Company News

• General Motors (GM.US): Reported Q2 2026 results that exceeded expectations with revenues of USD 48 billion and an EPS of USD 3.57. Despite the positive results, the stock did not react significantly.
• Nebius (NBIS.US): Shares rose approximately 6% after Nvidia announced a 9.3% stake in the company.
• Eli Lilly (LLY.US): Facing a lawsuit from Novo Nordisk over alleged unfair marketing practices, resulting in a 1% decline in stock price.
• Northrop Grumman (NOC.US): Reported record revenue and orders, but a drop in operating margin led to an 8% decline in stock price.
• 3M (MMM.US): Exceeded market expectations with Q2 results, reporting an EPS of USD 2.24 and revenue of USD 6.5 billion, which boosted the stock by about 6%.
• SaaS Sector: Morgan Stanley released reports on SaaS companies, highlighting positives but the market reacted negatively, with stocks down by as much as 5%.

Technical Analysis

The US100 index remains within a consolidation range between 30,900 and 28,450 points. Although support at the lower boundary has been defended, the short-term trend is bearish. A critical level for sellers is a breakout of the downtrend near approximately 29,750 points.

Macroeconomic Data

Later in the session, the API Institute is expected to release its report on US crude oil inventories, with a market consensus anticipating a decline of 0.5 million barrels for the week.

Conclusion

The market's rebound, particularly in the semiconductor sector, is a positive sign amidst some geopolitical tensions and mixed corporate earnings reports. Investors are advised to stay informed about ongoing developments, especially in the defense and technology sectors, as they could significantly impact market sentiment.