Stocks Gain as Chipmakers Rebound
U.S. stock indexes rose on Tuesday, July 21, 2026, led by a rebound in chipmaker and AI-infrastructure stocks after a recent selloff. The S&P 500 gained 0.38%, the Dow rose 0.17%, and the Nasdaq 100 climbed 1.26%. Dip buyers returned ahead of megacap tech earnings, starting with Alphabet on Wednesday. Software stocks weakened after a Morgan Stanley downgrade. Crude oil prices edged higher as US-Iran military strikes continued for a tenth day, with Iran attacking US sites in Kuwait and Jordan and striking vessels near the Strait of Hormuz. Houthi rebels threatened a maritime blockade on Saudi Arabia. Strong Q2 earnings expectations (23% growth) supported bullish sentiment, with AI infrastructure stocks contributing nearly 60% of S&P 500 EPS growth. Markets priced a 17% chance of a rate hike at the next FOMC meeting. Overseas markets also rose, with Japan's Nikkei surging 3.26%.
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