News Bulletin
Friday, July 31, 2026
Evening Edition

Economic Numbers:

Time	Event	Actual	Forecast	Previous
Friday, July 31, 2026
8:30	Employment Cost Index (QoQ) (Q2)	0.90%	0.80%	0.90%
9:45	Chicago PMI (Jul)	57.60	56.00	56.70
10:00	Michigan 5-Year Inflation Expectations (Jul)	3.30%	3.30%	3.30%
10:00	Michigan 1-Year Inflation Expectations (Jul)	4.20%	4.20%	4.60%
10:00	Michigan Consumer Expectations (Jul)	55.40	54.00	50.70
10:00	Michigan Consumer Sentiment (Jul)	55.20	54.40	49.50
13:00	U.S. Baker Hughes Oil Rig Count	451.00		450.00
13:00	U.S. Baker Hughes Total Rig Count	588.00		587.00

Indices

	CLOSE	50 DMA	200 DMA
DJIA	52,485.03	51,707.61	49,050.96
NASDAQ	25,373.85	25,948.57	23,998.10
S&P 500	7,489.72	7,471.70	7,023.85

Earnings Calendar:

(EPS: Earning Per Share / Rev: Revenue / Mkt Cap: market Capital/ BMO: Before Market Opening /AMC: After Market Close)

COMPANY	EPS Act	EPS Fore	Rev Act	Rev Fore	Mkt Cap	Time
AbbVieABBV:US	3.65	3.76	16.99B	16.77B	$367.11B	AM
ChevronCVX:US	6.06	5.19	70.06B	63.24B	$342.35B	AM
Monster BeverageMNST:US	-	0.58	-	2.42B	$100.37B	PM
Colgate-PalmoliveCL:US	0.99	0.95	5.36B	5.35B	$72.15B	AM
Dominion ResourcesD:US	0.79	0.76	4.48B	4.1B	$52.90B	AM
CBOECBOE:US	3.56	3.3	731.6M	695.27M	$33.93B	AM
Cheniere PartnersCQP:US	-	0.96	-	2.67B	$30.50B	AM
Church & DwightCHD:US	0.89	0.89	1.53B	1.5B	$23.83B	AM
T. Rowe PriceTROW:US	2.57	2.31	1.91B	1.83B	$23.01B	AM
Rbc BearingsROLL:US	3.88	3.41	519.5M	508.48M	$17.86B	AM
ModernaMRNA:US	0.95631068		100M	101.74M	$17.31B	AM
Franklin ResourcesBEN:US	0.72	0.63	2.36B	1.73B	$15.84B	AM
Regal RexnordRBC:US	3.88	2.59	519.5M	1.58B	$15.39B	AM
Trimble NavigationTRMB:US	-	0.8	-	946.51M	$13.94B	AM
AESAES:US	-	0.54	-	3.11B	$10.54B
GlobalstarGSAT:US	-	-0.03	-	72.43M	$10.07B
Federal Realty InvestmentFRT:US	0.97	0.72	335.71M	332.4M	$9.80B	AM
AutoNationAN:US	5.56	5.48	6.9B	7.02B	$8.09B	AM
TAL InternationalTAL:US	-	-	-	-	$7.88B
LearLEA:US	4.28	3.86	6.2B	6.14B	$7.33B	AM
Silicon LaboratoriesSLAB:US	-	0.7	-	226.75M	$6.95B	AM
TXNM EnergyPNM:US	0.58	0.55	548.55M	535.66M	$5.34B	AM
BalchemBCPC:US	1.49	1.31	283.99M	268.5M	$5.26B	AM
Portland General ElectricPOR:US	0.64	0.74	814M	847.59M	$5.15B	AM
International BancsharesIBOC:US	-	1.68	-	-	$4.74B
Telephone Data SystemsTDS:US	-	0.05	-	316.57M	$3.55B	AM
Medical PropertiesMPW:US	-	-	-	-	$3.03B
Mge EnergyMGEE:US	-	0.81	-	-	$2.89B	PM
HUBHUBG:US	-	0.29	-	941.12M	$2.83B
Newell BrandsNWL:US	0.42	0.19	2B	1.97B	$1.87B	AM
CartersCRI:US	0.26	0.06	615M	606.93M	$1.42B	AM
Helix Energy SolutionsHLX:US	-	0.07	-	321.44M	$1.38B
Marcus & MillichapMMI:US	-	0.03	-	190.55M	$1.14B	AM
Arbor RealtyABR:US	0.1	0.07	53.09M	115.98M	$958.10M	AM
Apollo Commercial Real Est FinanceARI:US	-	0.17	-	80.52M	$909.20M

Market News:

Wall Street on Friday ended higher, as a jump in consumer discretionary stocks on a boost from Amazon and a rebound in chip stocks helped offset a post-earnings slump in Apple, a slide in the materials sector, and rising Treasury yields.

But markets notched a negative month, largely driven down by a combination of a decline in the high-flying artificial intelligence trade and a resurgence in oil prices due to a breakdown in diplomacy in the Middle East.

The benchmark S&P 500 index advanced 0.7% to close at 7,489.67 points, the tech-heavy NASDAQ Composite added 1% to settle at 25,373.85 points, and the blue-chip Dow Jones Industrial Average climbed 0.5% to conclude at 52,485.74 points.

Tech’s July loss driven by worst month for chips since 2008

A blistering rally in the artificial intelligence trade earlier this year helped Wall Street shake off the Middle East conflict and return to record levels. Much of that jump was driven by chip stocks, as semiconductor firms have been some of the biggest beneficiaries of the AI boom.

However, since last month, the AI trade has seen a sharp pullback, amid increasing concerns about lofty valuations, uncertain timelines on returns from massive spending on AI, and Chinese competition. The Philadelphia Semiconductor Index - a key barometer for the chip space - saw a whopping 20.6% loss in July, its worst month since October 2008.

A possible reason for the slide emerged earlier this week after reports said Situational Awareness, the hedge fund started by former OpenAI researcher Leopold Aschenbrenner, had sold its entire AI-focused stock portfolio after steep losses. Vital Knowledge’s Adam Crisafulli said investors were now "attributing the pain of the last several weeks exclusively to technical dislocations" tied to Situational Awareness.

"The stunning fall of the U.S. technology and artificial Intelligence-focused hedge fund, Situational Awareness, may go some way to explaining why so many shares in these sectors have been so volatile of late, and bulls will be tempted to argue that Citadel’s swoop for the public shareholdings of a distressed seller may help to call the bottom and set the foundations for the next upward move," Russ Mould, investment director at AJ Bell, said.

One of the other major drivers for the slumping AI trade had been jitters that returns were too little and too slow from the hundreds of billions of dollars being poured by mega-cap firms into building AI infrastructure, or the combined hardware and software stack needed to handle massive data and computing power used to build and train AI processes. Investors punished Elon Musk’s Tesla and Google-parent Alphabet last week for highlighting elevated AI-related spending plans.

Microsoft results a shot in the arm

After Tesla and Alphabet’s disappointment, market participants this week had been keenly focused on quarterly results from four other members of the Magnificent Seven club: Microsoft, Meta Platforms, Amazon, and Apple.

The latter two saw diverging stock reactions on Friday. Apple ended over 7% lower after the iPhone-maker predicted that sales growth in the September quarter would be between 9% and 11%, just shy of the analysts’ estimates of about 12%. The outlook for gross profit margins also disappointed forecasts.

Conversely, e-commerce titan Amazon jumped more than 15% as its cloud business cash-cow continued to impress. CEO Andy Jassy told investors in a post earnings call that that division, Amazon Web Services, could eventually generate a trillion dollars in annual revenue "in time." Sales at AWS soared by 37% versus a year ago to $42.2 billion in the second quarter.

The cloud performance helped offset a raised spending forecast for the year to $220 billion, an uptick of $20 billion, as Amazon flagged increased costs of memory chips.

The spotlight, however, had been on the capital expenditure guidance issued by Meta and Microsoft. The Facebook-parent’s quarterly profits disappointed, and it also hiked its capex forecast. But Microsoft became the first AI giant to not raise spending plans, and the quarterly performance of its Azure cloud business was strong.

Bond sell-off deepens as Fed dissenters make case for rate hike

U.S. monetary policy outlook has also been a major focus of Wall Street’s in July. After a slide in oil prices in June helped to soften U.S. consumer and producer inflation, the resurgence in crude this month upended price pressure dynamics once again. That led to an unusual amount of uncertainty heading into the Federal Reserve’s interest rate decision on Friday, with odds of a rate hike higher than recent historical trends.

While the Federal Open Market Committee (FOMC) eventually held its key policy rate steady, the decision saw three dissents as Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari, and Dallas Fed President Lorie Logan voted for a 25 basis point hike instead.

"Inflation has remained stubbornly above 2 percent for more than five years, and I am not confident it will return to our objective on its own. Supply-side factors, including energy prices, have boosted inflation this year, but I see inflationary pressures coming from the demand side of the economy, as well," Hammack said on Friday.

"Labor, consumption and financial market conditions indicate that monetary policy is not restraining the economy. Without any policy restraint, inflation will likely continue to trend above target until there’s an unanticipated shock," Logan said in a separate statement.

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