Stocks Slip as Tech Drags Nasdaq Lower; Commodities Rally on Supply Fears
· Market News · MarketsFN Team
Stocks Slip as Tech Drags Nasdaq Lower; Commodities Rally on Supply Fears
U.S. equities edged lower Wednesday as mixed earnings from tech giants weighed on sentiment, while geopolitical tensions and supply concerns fueled a rally in oil and precious metals. The Nasdaq 100 led declines with a 0.54% drop, while the Dow Jones nearly flatlined at 52,218.58 (-0.01%).
🇺🇸 US Session Overview
Tech weakness dominated the session after Alphabet's higher-than-expected capital expenditures ($44.9B) and Tesla's earnings miss overshadowed its revenue beat. The S&P 500 dipped 0.14% to 7,498.96, with utilities gaining traction amid Wells Fargo's note about AI-driven demand. Small caps underperformed sharply, sending the Russell 2000 down 0.92% to 2,959.94 as risk appetite waned.
📅 Economic Calendar Highlights
No major economic data was released Wednesday, leaving markets to focus on earnings and geopolitical developments. Traders await Thursday's initial jobless claims and existing home sales data for fresh signals on the Fed's policy path.
📋 Earnings Spotlight
Regional banks dominated morning reports, with BankUnited, First Bancorp PR, and Farmers National Banc Corp among those releasing results. Industrial names GE Vernova and Badger Meter also reported, though none triggered major market moves.
💱 FX & Commodities
The dollar showed mixed performance, gaining 0.55% against the Swiss franc but slipping against the yen as USD/JPY hit 163.14. Commodities surged on supply risks: Brent crude jumped 2.94% to $93.69 after Houthi attacks in the Red Sea, while gold rallied 1.62% to $4,137/oz amid geopolitical tensions. Cryptos were muted, with Bitcoin dipping 0.91% to $65,897.
Thursday's session will focus on earnings from American Airlines and Intel, while Asian markets open to lingering energy price pressures. Traders will watch whether the S&P 500 can defend its 7,500 psychological level as tech sentiment remains fragile.
🇺🇸 US Indices — Session Close
| Index | Price | Change | Change % |
|---|---|---|---|
| S&P 500 | 7,498.96 | ▼ -10.24 | ▼ -0.14% |
| Nasdaq 100 | 28,998.10 | ▼ -157.08 | ▼ -0.54% |
| Dow Jones | 52,218.58 | ▼ -6.06 | ▼ -0.01% |
| Russell 2000 | 2,959.94 | ▼ -27.46 | ▼ -0.92% |
💱 FX Majors
| Pair | Rate | Change % |
|---|---|---|
| EUR/USD | 1.1416 | ▼ -0.02% |
| GBP/USD | 1.3377 | ▼ -0.41% |
| USD/JPY | 163.14 | ▲ +0.40% |
| AUD/USD | 0.7 | ▼ -0.01% |
| USD/CHF | 0.8145 | ▲ +0.55% |
🛢️ Commodities & Crypto
| Asset | Price (USD) | Change % |
|---|---|---|
| Gold (XAU/USD) | 4,137.00 | ▲ +1.62% |
| Silver (XAG/USD) | 59.94 | ▲ +1.87% |
| Crude Oil (WTI) | 86.37 | ▲ +1.72% |
| Brent Oil | 93.69 | ▲ +2.94% |
| Natural Gas | 2.94 | ▲ +2.79% |
| Bitcoin | 65,897.41 | ▼ -0.91% |
| Ethereum | 1,928.31 | ▲ -0.00% |
📋 Today's Earnings
| Ticker | Company | Timing | Market Cap |
|---|---|---|---|
| BBKU | BankUnited Inc | BMO | 3340000000.0 |
| BBMI | Badger Meter Inc | BMO | 3700000000.0 |
| CCALM | Cal-Maine Foods Inc | BMO | 4160000000.0 |
| CCHCO | City Holding Co | BMO | 1960000000.0 |
| CCME | CME Group Inc | BMO | 90290000000.0 |
| EEQNR | Equinor ASA ADR | BMO | 95530000000.0 |
| FFBP | First Bancorp PR | BMO | 4460000000.0 |
| FFCCO | First Community Corp | BMO | 305340000.0 |
| FFMNB | Farmers National Banc Corp | BMO | 888220000.0 |
| GGEV | GE Vernova Inc | BMO | 264700000000.0 |
| GGNTA | Genenta Science SpA ADR | BMO | 38430000.0 |
| HHCSG | Healthcare Services Group Inc | BMO | 1620000000.0 |
| IIRDM | Iridium Communications Inc | BMO | 4970000000.0 |
| JJMSB | John Marshall Bancorp Inc | BMO | 313010000.0 |
| MMCO | Moody's Corp | BMO | 85550000000.0 |
| NNTRS | Northern Trust Corp | BMO | 33060000000.000004 |
| NNWFL | Norwood Financial Corp | BMO | 329560000.0 |
| OONB | Old National Bancorp | BMO | 10190000000.0 |
| OOTIS | Otis Worldwide Corp | BMO | 27020000000.0 |
| OOTLY | Oatly Group AB ADR | BMO | 330410000.0 |
📅 Economic Calendar
All times in UTC — Actual highlighted where available
No significant economic releases today.
Report published: July 22, 2026 — 22:21 CET
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