Fed Decision, Microsoft & Meta Take Center Stage 29/07/2026

 


HOT stories for today

Market wrap:

• US stocks ended mixed on Tuesday as strong corporate earnings, falling oil prices and a rotation away from semiconductor shares lifted the Dow while leaving the technology-heavy Nasdaq under pressure. The Dow Jones Industrial Average climbed 537 points, or 1%, to 52,747.32, extending its winning streak to three sessions. Sherwin-Williams (SHW) surged 8% after better-than-expected second-quarter results, while Coca-Cola (KO) gained 5% after beating earnings and revenue estimates and raising its full-year outlook. The S&P 500 added 0.2% to close at 7,428.78. The Nasdaq Composite slipped 0.2% to 24,876.91 as the semiconductor selloff continued. The VanEck Semiconductor ETF (SMH) fell more than 3% for a fourth straight decline, with Micron (MU) and Advanced Micro Devices (AMD) each dropping more than 8%. Lower oil prices provided additional support after Iran held discussions with Saudi Arabia and Oman over the Strait of Hormuz.
• West Texas Intermediate crude fell about 4% to $79.26 a barrel, while Brent crude dropped 4.8% to $84.09. The session highlighted a broader shift within the market, with investors rotating into traditional sectors while taking profits in high-flying technology shares. The Technology Select Sector SPDR Fund (XLK) fell to its lowest level since May 7, while health-care and financial ETFs climbed to record highs. Attention now turns to Wednesday’s Federal Reserve decision. Policymakers are widely expected to leave rates unchanged, though investors will be looking for clearer guidance on the path ahead. Markets are currently pricing in a quarter-point increase in September.Megacap earnings also remain in focus, with Amazon (AMZN), Apple (AAPL), Meta Platforms (META) and Microsoft (MSFT) all scheduled to report this week.

Oil Jumps as US-Iran Fighting Resumes

• Oil prices rose sharply on Wednesday after Iran launched ballistic missiles at US forces in the Middle East, ending a brief pause in hostilities and reviving concerns over regional energy supplies. Brent crude futures gained about 3.4% to $86.97 a barrel, while West Texas Intermediate climbed 3.6% to $82.09. The US Central Command said Iranian forces attempted a surprise missile attack on American bases. US and Saudi forces also struck logistics and weapons sites in eastern Iraq in response to more than 30 drone attacks by Iran-aligned groups over the past three days. 
• Supply concerns intensified after the UK Maritime Trade Operations agency reported suspicious activity in the Red Sea, where the captain of a tanker heard an explosion. Recent Houthi attacks targeting Saudi oil facilities have added to fears of disruptions to regional production, storage and shipping infrastructure. The renewed oil rally comes ahead of Wednesday’s Federal Reserve decision, with investors also assessing the inflation impact of higher energy prices and the possibility of a more hawkish policy outlook.

Stocks on the move:

• Seagate Technology (STX): Shares jumped 8% after the data-storage company issued a first-quarter outlook well above Wall Street expectations. Seagate forecast adjusted earnings of about $7.30 per share on revenue of roughly $4.1 billion. Western Digital (WDC) gained 4% in sympathy.
• Visa (V): Shares fell nearly 2% after the payments company’s fiscal 2026 outlook disappointed investors. Visa maintained its forecast for adjusted earnings growth in the mid-teens, broadly in line with consensus. The company also announced plans to cut about 2,600 jobs, or roughly 7% of its workforce.
• Teradyne (TER): Shares surged 14% in extended trading after second-quarter earnings and revenue beat estimates. The semiconductor-testing company also delivered stronger-than-expected profit and sales guidance for the third quarter.
• NXP Semiconductors (NXPI): Shares dropped 5% after second-quarter gross margin merely matched expectations. The company projected third-quarter adjusted earnings of $3.89 to $4.32 per share, with the midpoint roughly in line with forecasts.
• Ford Motor (F): Shares rallied 6% after the automaker reported better-than-expected adjusted earnings and raised its 2026 profit outlook. Automotive revenue, however, came in slightly below expectations.

Watchlist: STX, WDC, V, MU, NXPI, F, PG, TSLA, KLAC, MDLZ, XOM

Key Economic Events Today:

EST time

10:30 am: USD Crude Oil Inventories
02:00 pm: USD Federal Funds Rate
02:30 pm: USD FOMC Press Conference


Earnings

BMO (Before Market Open): Procter and Gamble (PG), Amphenol (APH), Vertiv Holdings (VRT), Aon PLC (AON), General Dynamics (GD)

AMC (After Market Close): Microsoft (MSFT), Meta Platforms (META), Lam Research (LRCX), Qualcomm (QCOM), Starbucks (SBUX), ARM Holdings (ARM), Fortinet (FTNT), Robinhood (HOOD)


The TEFS Analyst team wishes you a successful day!