US Stocks Reverse Course

2026-07-31 14:23 By Andre Joaquim 1 min. read

US equities swung lower on Friday as chip producers erased their gains, while a fresh increase in long-term Treasury yields pressured broader sectors.

The S&P 500, Dow, and Nasdaq 100 were around 0.4% down, with the latter having reached a 1.6% jump after the open.

Apple tanked nearly 10% as the shortage for chips raised costs and dented production in the June quarter, denting earnings.

Conversely, Amazon surged 13% after beating expectations on its cloud-computing arm.

Micron, Sandisk, and Qualcomm reversed to losses of between 3% and 6%, reflecting uncertainty on volatility around AI trades.

Meanwhile, broader sectors also fell with Netflix and Eli Lilly falling 3% each.

The 30-year Treasury yield surged further to 19-year highs on concerns that Kevin Warsh's FOMC could refrain from raising rates to fight inflation.

Also, ExxonMobil sank 3% as limited refinery capacity prevented the oil giant form higher windfalls in oil profits last quarter.



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US Stocks Reverse Course
US equities swung lower on Friday as chip producers erased their gains, while a fresh increase in long-term Treasury yields pressured broader sectors. The S&P 500, Dow, and Nasdaq 100 were around 0.4% down, with the latter having reached a 1.6% jump after the open. Apple tanked nearly 10% as the shortage for chips raised costs and dented production in the June quarter, denting earnings. Conversely, Amazon surged 13% after beating expectations on its cloud-computing arm. Micron, Sandisk, and Qualcomm reversed to losses of between 3% and 6%, reflecting uncertainty on volatility around AI trades. Meanwhile, broader sectors also fell with Netflix and Eli Lilly falling 3% each. The 30-year Treasury yield surged further to 19-year highs on concerns that Kevin Warsh's FOMC could refrain from raising rates to fight inflation. Also, ExxonMobil sank 3% as limited refinery capacity prevented the oil giant form higher windfalls in oil profits last quarter.
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