Dow up 250+, Aided by Tumbling Oil Prices
July 27,2026 4:35 PM EST
The S&P 500 punched back into the green on Monday, as chip stocks began to recover from their selloff earlier in the session and oil prices edged lower.
The Dow Jones Industrials vaulted 262.83 points to 52,210.08.
The much-broader index moved back into the green 1.2 points to 7,413.18
The NASDAQ Composite subsided 43.74 points to 24,932.08.
AMD sank 4% and Teradyne dropped 5%, to lead the declines. Micron Technology shed about 3%.
U.S.-listed shares of ASML, the dominant player in the space, fell more than 8% on the back of the report.
The week ahead will have no shortage of challenges for the major averages. A succession of quarterly reports from Amazon, Apple, Meta Platforms and Microsoft will either soothe investor fears of rampant artificial intelligence spending, or add to them, after Alphabet’s disappointing results in the last week.
The results could directly affect semiconductor companies that are the chief beneficiaries of the AI spending spree.
The Fed will make its latest decision on interest rates on Wednesday. The consensus view is that the central bank will hike rates in September, but markets are pricing in the meaningful possibility that the Fed will lift its benchmark borrowing rate a quarter percentage point as soon as this week.
Prices for the 10-year Treasury hiked, lowering yields to 4.65%. Treasury prices and yields move in opposite directions.
Oil prices slid $7.33 to $81.98 U.S. a barrel.
Gold prices tacked on $17.80 to $4,088.60 U.S. an ounce.
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