Consumer alert? 24/07/2026

 HOT stories for today

Market wrap:

• US stocks sold off sharply on Thursday as surging oil prices and disappointing results from two megacap technology companies pressured risk appetite. The Dow Jones Industrial Average fell more than 500 points, or about 1%, marking its fifth decline in six sessions. The S&P 500 dropped 1.2%, while the Nasdaq Composite slid 2.2%, giving both indexes their worst day since June 23. Tesla (TSLA) plunged nearly 15% after second-quarter earnings missed expectations, while Alphabet (GOOGL) fell 7% after raising its full-year capital expenditure outlook, reviving concerns over the cost of AI investment. 
• Brent crude surged about 7% and topped $100 a barrel for the first time since late May, while West Texas Intermediate gained roughly 6% after reports that two Saudi oil tankers were struck in the Red Sea. The selloff spread to Asia, with Japan’s Nikkei 225 down 2.8% and the Topix falling 1%. S&P 500 futures were little changed early Friday. The major US indexes are now on track for weekly losses, with the Dow down 0.8%, the S&P 500 off 0.7% and the Nasdaq lower by 1.5%. Friday’s economic calendar is relatively quiet, leaving earnings and geopolitical developments in focus. American Express (AXP) and Verizon (VZ) report before the opening bell.

Intel Surges on AI Growth

• Intel (INTC) rose about 4% in extended trading after delivering stronger-than-expected second-quarter results and an upbeat outlook, as booming demand for artificial-intelligence infrastructure fueled its fastest revenue growth in nearly 15 years. Adjusted earnings came in at 42 cents a share, double Wall Street expectations, while revenue climbed 25% to $16.1 billion, well above forecasts. The company also projected third-quarter revenue of $15.8 billion to $16.8 billion, topping analyst estimates. 
• Growth was led by Intel’s data-center business, where revenue surged 59% to $6.3 billion as cloud and enterprise customers increased spending on server processors. Management said demand continues to exceed supply and disclosed 10 long-term customer agreements covering pricing and chip volumes. Intel’s PC division remained its largest business, with revenue rising 13% to $8.9 billion, while foundry sales increased 31% to $5.8 billion. Gross margin recovered to 42%, supported by stronger volumes, improved pricing and a more profitable product mix. The company plans to meaningfully increase capital spending next year as it expands manufacturing capacity and advances its 14A production technology. However, investors are still waiting for Intel to secure a major external foundry customer. Intel shares have gained more than 170% this year, although the stock entered earnings down 28% in July following its recent pullback.

Stocks on the move:

• Deckers Outdoor (DECK): Shares fell 3% after first-quarter revenue of $1.02 billion matched expectations, while sales from the Hoka and Ugg brands missed Wall Street forecasts.
• Boston Beer (SAM): Shares gained 2% after second-quarter revenue of $568.3 million narrowly topped estimates. The company also reaffirmed its full-year earnings guidance of $8.50 to $10.50 per share.
• SAP (SAP): Shares rose 3% after second-quarter cloud backlog increased 27% from a year earlier to €22.9 billion. Revenue of €9.88 billion also came in slightly above expectations.
• Advanced Micro Devices (AMD): Shares climbed more than 2% after the company projected the server CPU market will grow to $200 billion by 2030, while the AI accelerator market could reach $1.4 trillion.

Watchlist: DECK, AMD, INTC, SAP, VZ, AXP, NEE, HCA, SNDK, MU

Key Economic Events Today:

EST time

09:45 am: USD Flash Manufacturing, Services PMI
10:00 am: USD New Home Sales


Earnings

BMO (Before Market Open): American Express (AXP), Nextra Energy (NEE), Verizon (VZ), HCA Healthcare (HCA), SLB Limited (SLB)


The TEFS Analyst team wishes you a successful day!