Oil Risk Returns as Big Tech Earnings Loom
By Jacqueline Policastro | Quincy News Correspondent
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Washington (Quincy News) — Market Recap: Wall Street ended a losing week with another selloff Friday. The S&P 500 fell 1.0%, the Nasdaq dropped 1.4% and the Dow declined 0.8%. For the week, the Nasdaq lost roughly 2.9%, the S&P 500 fell about 1.6% and the Dow slipped 0.9%. Semiconductor stocks remained at the center of the pullback, with the Philadelphia Semiconductor Index down nearly 10% for the week and more than 20% below its June record, putting it in bear-market territory.
U.S.-Iran hostilities escalated across the Gulf over the weekend, pushing Brent crude to $90 a barrel. Prices have since retreated Monday morning, though the spike is a reminder that continued fighting could still push energy costs higher for consumers through gasoline, airfare and shipping.
Today’s Focus: Monday’s economic calendar is light. The Conference Board releases its June Leading Economic Index at 10 a.m. ET after the index rose for a second consecutive month in May. The report is designed to signal potential turning points in the economy and will show whether that recent improvement continued into June.
Earnings will carry more weight as the week progresses. Alphabet and Tesla report Wednesday, followed by Intel on Thursday. After the sharp semiconductor selloff, investors will be looking for evidence that companies’ investments in artificial intelligence are producing long-term revenue and profit growth.
ON THE SCHEDULE FOR THE WEEK OF MONDAY, JULY 20, 2026
-10:00 a.m. ET – Conference Board Leading Economic Index (June)
-Earnings – Domino’s Pizza, Steel Dynamics
-Tuesday earnings – 3M, General Motors, Halliburton
-Wednesday earnings – Alphabet, Tesla, AT&T
-Thursday, 8:30 a.m. ET – Initial jobless claims
-Thursday earnings – Intel, Comcast, Honeywell
-Friday, 9:45 a.m. ET – S&P Global Flash U.S. Manufacturing and Services PMIs (Preliminary, July)
-Friday, 10:00 a.m. ET – New Residential Sales (June)
-Friday earnings – American Express, Verizon
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