S&P 500 ends higher as investors await tech earnings
Tue July 28, 2026
The trend continues with investors fleeing tech and moving into safer industrials as everyone’s on the fence over the mega tech companies – Alphabet, Microsoft and Amazon among other reporting later this week – to find out whether their valuations confirm fears that the overspending on AI is legit or not. Both tech indexes ended in a wash while the Dow gained an impressive 537 points. White House meetings with Netanyahu and Zelensky have added hopes of an easing of tensions.
The chip index continues to fall, down another 4.5% today leaving it now 25% below the record June close (vs 21 yesterday) but still up 56% for the year (vs 63 yesterday.) The odds of the Fed announcing a rate hike on Wednesday have been reduced to 29% from 38% yesterday. With trading volumes being so far below the 4-week average for so many sessions now, today the averages finally came down to be right in line with today’s 17.2 billion shares traded vs the 17.4 average.
DJ: 52,210.08 +262.83 NAS: 24,932.08
-43.74 S&P: 7,413.18
+1.20 7/27
DJ: 52,747.32 +537.24 NAS: 24,876.91
-55.17 S&P: 7,428.78
+15.60 7/28
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