Stock Market Update
31-Jul-26 13:30 ET
S&P 500 masks underlying volatility
Dow +315.43
at 52523.49,
Nasdaq +219.22
at 25362.41,
S&P +48.77
at 7486.40
[BRIEFING.COM] With today's guarded advance, the S&P 500 (+0.7%) is on track to shed just 0.2% for the month, but that masks what has been a tumultuous month for technology stocks in general and chip-related names in particular, with the PHLX Semiconductor Index down 20% since the end of June.
Sandisk (SNDK 1252.68, -27.28, -2.13%) is one of the clearest examples of the gut-wrenching volatility. The stock ended June at $2273.73, just shy of its record high, before reaching a low of $998.19 on Wednesday. Strikingly, even with the July plunge, it is still up 320% since the end of 2025! Meanwhile, Sandisk peers Western Digital (WDC 558.04, +25.00, +4.69%), Seagate Tech (STX 877.58, +25.90, +3.04%), and Micron (MU 846.71, -27.95, -3.20%) are all up around 200% for the year.
The broader technology sector has had to contend with significant volatility this year, starting with weakness in software stocks in Q1, followed by the more recent action in AI-related names. This has contributed to another strong month for the energy sector, which is up more than 11% for the month with support from a rising price of oil. WTI crude hovers near $85/bbl, on track to add $15/bbl, or 22%, for the month.
