July 24, 2026
US equities closed mixed Thursday as investors parsed a fresh round of corporate earnings and weighed lingering tariff concerns. The S&P 500 (SPY) eked out a small gain while the Nasdaq (QQQ) led with a +0.28% advance. Small-caps (IWM) dipped slightly. Sector divergence was notable: Technology (XLK) led at +0.43%, while Consumer Discretionary (XLY) lagged at -0.49%.
| Index | Price | Daily % | Change |
|---|---|---|---|
| SPY | $738.85 | +0.07% | +0.55% |
| QQQ | $693.87 | +0.28% | +1.91% |
| DIA | $516.10 | -0.02% | -0.12% |
| IWM | $291.51 | -0.20% | -0.58% |
| Sector ETF | Price | Daily % | Change |
|---|---|---|---|
| XLK | $179.22 | +0.43% | +0.77% |
| XLF | $55.86 | +0.02% | +0.01% |
| XLE | $59.51 | +0.19% | +0.11% |
| XLV | $161.60 | +0.12% | +0.19% |
| XLY | $108.22 | -0.49% | -0.53% |
| XLP | $82.90 | -0.40% | -0.33% |
Intel (INTC) turnaround gains momentum
Shares of Intel moved higher after the chipmaker reported strong quarterly results and provided an upbeat third-quarter outlook. We expect more gains ahead under the guidance of CEO Lip-Bu Tan. Revenue in the second quarter increased 25% year over year to $16.1 billion, exceeding the LSEG-compiled consensus estimate of $14.42 billion. Non-GAAP earnings per share (EPS) swung to a 42-cent profit from a 10-cent loss one year ago, beating the LSEG estimate of 21 cents. Intel was up roughly 4% in after-hours trading, bringing it to around $104 per share. It traded as high as about $113 in reaction to the results. INTC 1Y mountain Intel 1-year return Bottom line It's hard not to be impressed by Lip-Bu Tan, who became CEO in March 2025 and has already changed the company's culture while transforming it from a money loser to a profitable, growing operation. Along the way, Intel is regaining investor trust after years of disappointment. To be fair, part of that success is tied to the incredible demand for AI infrastructure. Customers can't get enough of its x86 CPUs to run agentic AI tasks. The advanced packaging business has become strategically important in the AI era, connecting systems of multiple smaller chips so they act like a single chip. And the foundry business provides a strategic advantage, allowing Intel to produce its own AI CPUs without relying on industry leader Taiwan Semiconductor Manufacturing Company (TSMC). With these tailwinds at its back and under disciplined leadership, Intel exceeded its own revenue guidance by $1.8 billion, and more than doubled its own Non-GAAP EPS forecast, reporting $0.42 versus the company's $0.20 outlook. One slight disappointment this evening was that the company did not announce any major customers for its foundry. Several big names, including Apple , have been rumored to be partnering with Intel, but no formal deals have been announced. We fully expect deals will be announced as Intel shows the strength o
Source: CNBC
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Earnings season continues next week with megacap tech names reporting. Tariff policy uncertainty remains the dominant macro risk. Watch 10-year Treasury yields and the US dollar for signals on risk appetite direction.
Data as of market close July 24, 2026. Prices in USD.