Market Overview
On July 17, 2026, traders were seen working on the floor of the New York Stock Exchange during morning trading.
Stock futures didn’t see much change on Sunday following a week where the three major stock indexes experienced declines.
S&P 500 futures dipped slightly by 0.1%, while Nasdaq 100 futures traded near a neutral position. Meanwhile, futures associated with the Dow Jones Industrial Average were down by 84 points, or 0.2%.
The semiconductor sector put pressure on market sentiment last week, causing all three major U.S. indexes to close lower. The S&P 500 dropped by 1.6%, the Nasdaq Composite fell by 2.9%, and the Dow 30 declined by 0.9%. Additionally, the VanEck Semiconductor ETF saw a nearly 9% decrease over the week, marking its third decline in four weeks.
Jonathan Krinsky, a chief market technologist at BTIG, speculates that further price drops in the semiconductor industry are likely. He mentioned, “Sure, there could be a temporary rebound, but I don’t see any clear signs of a significant crash that we might be hoping for.” He also noted that it might be too early to assess past performance, highlighting that stocks like Micron had just experienced a substantial rally.
Traders are keeping a close eye on the ongoing conflict in the Middle East, particularly as tensions between the U.S. and Iran escalated over the weekend.
The U.S. military reported an airstrike on Iran for the eighth consecutive night, coinciding with increased Iranian strikes on U.S. military installations in the region. This surge in hostilities has put additional stress on an already shaky ceasefire. U.S. Central Command confirmed the death of a third service member in recent combat, and they also reported finding unidentified bodies near the site of an Iranian attack that had previously killed two individuals in Jordan on July 17.
The rise in geopolitical tensions contributed to an uptick in crude oil prices. West Texas Intermediate futures recently traded above $85 per barrel, reflecting a 3% increase, while Brent crude oil futures rose similarly to over $91 per barrel.
Looking ahead, traders are awaiting the latest earnings reports, which are set to be released this week. Notably, members of the “Magnificent Seven,” including Alphabet and Tesla, are expected to report their results after the market closes on Wednesday. Intel, on the other hand, which saw a 13% drop in its stock last week due to a decline in chip prices, has its product slated to launch on Thursday.
