Stocks fell last week as the chip-stock trade entered a selloff phase, despite upbeat news on inflation. The Standard & Poor’s 500 Index fell 1.55% this past week, led by technology stocks, amid concerns about whether excitement over artificial intelligence has been overdone in the US. while the Nasdaq Composite Index declined 2.90%. The Dow Jones Industrial Average slipped 0.93 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, lost 0.80 percent.1,2 Chip Stocks Under PressureThe S&P 500 ended the week at 7,457.69 and is down 0.6% for July but up 8.9% for the year. Worries about the U.S. technology sector flared as China's Moonshot AI, which is backed by Alibaba (BABA), released an AI model that it says outperforms some US-based systems. Continued conflict in the Middle East also weighed as crude oil futures climbed. Iran said it had targeted US military forces in Syria and Bahrain in a broadening of the scope of its attacks in the Middle East. Economic data showed US consumer prices declined by more than expected in June while producer prices unexpectedly fell. The drop in producer prices came amid a steep decline in the cost of energy products. Still, US industrial production rose by less than expected in June as manufacturing output stalled, Federal Reserve data showed Friday. The technology sector fell 3.8%, followed by a 2.4% loss in communication services and declines of 1.4% each in industrials and materials. Consumer discretionary and utilities also edged lower. The decliners in the technology sector included shares of Applied Materials (AMAT), which fell 12% on the week, and Cadence Design Systems (CDNS), down 14%. In communication services, shares of Netflix (NFLX) shed 6%. The streaming company's second-quarter revenue missed Wall Street's estimates while Q3 guidance lagged market expectations. The company also said it will switch to releasing its engagement report annually, rather than semi-annually. On the upside, energy climbed 5%, while real estate rose 2.3% and consumer staples added 1.4%. Financials and health care were also higher. The climb in energy came as crude oil futures rose as Iran widened its attack to a desalination plant in Kuwait. Gainers included shares of Exxon Mobil (XOM), up 6.1%, and Chevron (CVX), up 6.2%. This week's earnings calendar features Google parent Alphabet (GOOGL, GOOG), Tesla (TSLA), Philip Morris International (PM), GE Vernova (GEV), Texas Instruments (TXN), International Business Machines (IBM), AT&T (T), Intel (INTC) and American Express (AXP). |
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Source: YCharts.com, July 18, 2026. Weekly performance is measured from Monday, July 13 to Friday, July 17. TR = total return for the index, which includes any dividends as well as any other cash distributions during the period. Treasury note yield is expressed in basis points. |
Inflation DeclinesThe Consumer Price Index (CPI) surprised Wall Street last week, falling 0.4 percent in June from the prior month. While month-over-month inflation has decelerated at times over the past six years, this was the first monthly decline in consumer prices since April 2020.8 Wednesday’s Producer Price Index report showed that monthly wholesale inflation unexpectedly declined 0.3 percent in June. Later in the day, New York Fed President John Williams said that he believed inflation had likely peaked.9 This Week: Key Economic DataMonday: Leading Indicators. Three-Month Treasury Bill Auction. Fed Board of Governors (closed) meeting. Tuesday: Treasury Buyback Announcement. Wednesday: Atlanta Fed Business Inflation Expectations. 20-Year Treasury Bond Auction. EIA Petroleum Status Report. Thursday: Weekly Jobless Claims. Kansas City Fed Survey. EIA Natural Gas Report. Fed Balance Sheet. Friday: Purchasing Managers Index (PMI) Composite–Manufacturing. PMI Composite–Services. New Home Sales. Source: Investor’s Business Daily - Econoday economic calendar: July 17, 2026. This Week: Companies Reporting EarningsTuesday: The Charles Schwab Corporation (SCHW), Interactive Brokers Group, Inc. (IBKR), Danaher Corporation (DHR), Capital One Financial Corporation (COF), Marsh (MRSH), 3M Company (MMM), Northrop Grumman Corporation (NOC), General Motors Company (GM) Wednesday: Alphabet Inc. (GOOG/GOOGL), Tesla, Inc. (TSLA), GE Vernova Inc. (GEV), Philip Morris International Inc. (PM), Texas Instruments Incorporated (TXN), AT&T Inc. (T), ServiceNow, Inc. (NOW), CSX Corporation (CSX), CME Group Inc. (CME), Moody’s Corporation (MCO), Kinder Morgan, Inc. (KMI)) Thursday: Intel Corporation (INTC), RTX Corporation (RTX), T-Mobile US, Inc. (TMUS), Thermo Fisher Scientific Inc. (TMO), Union Pacific Corporation (UNP), Lockheed Martin Corporation (LMT), Newmont Corporation (NEM), Blackstone, Inc. (BX), Freeport-McMoRan Inc. (FCX), Comcast Corporation (CMCSA) Friday: American Express Company (AXP), NextEra Energy, Inc. (NEE), Verizon Communications Inc. (VZ), HCA Healthcare, Inc. (HCA) Source: Zacks, July 17, 2026. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your goals, time horizon, and risk tolerance. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule their earnings reports without notice. |
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“Be respectful to your superiors, if you have any.” - Mark Twain |
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An African Safari: The Trip of a LifetimeThere's nothing quite like an African safari for shifting how you see the world. Picture elephants ambling past your camp in the early morning light, then trading the day's heat for a clear night sky over a lodge built around conservation. Safaris also work surprisingly well for bringing generations together: plenty of camps now design their layouts around larger family groups, with shared common spaces that keep everyone in the same orbit. Traveling as a couple or with the whole family, there's likely a safari suited to what you're after. Tip adapted from TravelandLeisure.com10 Brain Health Supplements: Are They Worth the Hype?Many brain health supplements contain omega-3 fatty acids, such as those found in fish oil. Rather than choosing a supplement, some health professionals recommend eating a healthy diet full of vitamins, minerals, and healthy fats. Also, exercising your brain may help improve memory; that can mean puzzles like crosswords or Sudoku, or other mind-stimulating activities. Ongoing education, for one, can be a great way to keep your brain moving. Concerns? Check with your medical professionals if you have questions. Tip adapted from Harvard Medical School11 |
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Take a letter out of it, and it stays put and the same; remove all the letters from it, and it still stays put and stays the same. What is it? Last Week's Riddle: Brittany carried a load of wood in a wheelbarrow, yet the wood was neither straight nor crooked. How could this be? Answer: She was carrying a load of sawdust. |
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Notre-Dame Gargoyle Paris, France |
Footnotes And Sources1. WSJ.com, July 17, 2026 12. MT Newswires, YCharts.com, July 13-17, 2026 |
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