Strength in Chipmakers Boosts Stocks Amid Middle East Tensions
U.S. stock indexes rose on July 21, 2026, driven by a rebound in chipmaker and AI-infrastructure stocks as dip buyers entered ahead of megacap tech earnings from Alphabet and Tesla. The S&P 500 gained 0.64%, the Dow rose 0.47%, and the Nasdaq 100 climbed 1.58%. However, software stocks fell after Morgan Stanley downgrades, and rising crude oil prices pushed bond yields higher. WTI crude surged over 2% to a 5-week high amid continued US-Iran military strikes and Houthi threats of a maritime blockade on Saudi Arabia. The 10-year T-note yield hit a 2-month high of 4.64%. Markets are pricing a 22% chance of a Fed rate hike at the July 28-29 meeting. Overseas markets also rose, with Japan's Nikkei up 3.26% and China's Shanghai Composite up 1.79%.
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