Stock Market Update
23-Jul-26 15:35 ET
Stocks lower ahead of more earnings
Dow -546.38
at 51672.20,
Nasdaq -609.82
at 25102.09,
S&P -103.59
at 7395.37
[BRIEFING.COM] The major averages remain firmly lower with just half an hour left in today's session.
Investors will receive another sizable batch of earnings after the close again today. Intel (INTC 100.34, -2.28, -2.22%) heads into the report with expectations elevated after three straight quarterly beats and management's repeated emphasis on strong demand, especially in server CPUs and AI-related workloads. At the same time, the stock has been volatile and is down about 18% since July 6, suggesting investors want proof that demand strength can keep offsetting PC softness, early-ramp costs, and a still-heavy foundry investment cycle. This report likely needs to show that supply is improving, margins are holding up, and the AI/foundry narrative is translating into cleaner earnings power.
After a resilient showing this morning, the PHLX Semiconductor Index (-1.1%) is near session lows, with today's weakness bleeding over into the semiconductor space as well.
