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17. 7. 2026
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Stocks live · indices
S&P 500
7,653
-0.3% 24h
Nasdaq
26,151
+0.7% 24h
Stocks momentumRisk-on
70/100
BearishNeutralBullish
Trend · SPXUptrend
7,534
▲ 7.9% vs 200DMA · above the 200DMA
BreadthMixed
≈ 60%est
est · share of S&P > 200DMA
VIXCalm
15.7
▼ 5.0% · vol contained
HY creditTight
271 bp
▼ 1bp · credit calm
Biggest stocks news
Fed Officials Signal Openness to Higher Rates Despite Favorable CPI
Why it matters — This hawkish shift pushes back against expectations of rapid rate cuts, suggesting that the Fed remains highly sensitive to inflation stickiness and is willing to keep borrowing costs elevated.
𝕏x.comrates
8.5
1Signalsthe 5 that matter
01
Fed Officials Signal Openness to Higher Rates Despite Favorable CPI
8.5
Why — This hawkish shift pushes back against expectations of rapid rate cuts, suggesting that the Fed remains highly sensitive to inflation stickiness and is willing to keep borrowing costs elevated.
𝕏x.comRates
02
Strong Tech Earnings Met with Sharp After-Hours Selloffs
Why — This demonstrates that strong backward-looking earnings are no longer enough to sustain rallies when valuations are priced for perfection several years out.
𝕏x.comEarnings
8.2
03
US Housing Market Indicators Roll Over with Sharp Drops
Why — The housing sector is showing renewed signs of stalling under the weight of high mortgage rates, which could drag on broader economic growth and consumer confidence.
𝕏x.comMacro
7.8
04
Semiconductor Sector Experiences Healthy Drawdown in Historical Context
Why — This suggests the current semiconductor pullback is a normal, healthy consolidation within a longer-term secular bull market rather than an outright cycle top.
𝕏x.comEquities
7.5
05
Philadelphia Fed Manufacturing Index Surges to Multi-Year High
Why — Strong regional manufacturing activity suggests underlying economic resilience, which could give the Fed more leeway to maintain restrictive monetary policy.
𝕏x.comMacro
7.2
2Watch3 themes · 6 notes

Rates & the Fed

Jim Bianco noted that fed funds futures had priced in a 45% chance of a rate hike at the July 29 meeting prior to the CPI print.
Charlie Bilello criticized the Fed's historical tolerance of inflation, pointing out that members voted to cut rates 175 bps in 2024-2025 while inflation remained elevated.

Earnings & Sectors

The Transcript highlighted Alphabet President Ruth Porat's warning that near-term ROI pressure risks driving tactical cost cuts at the expense of durable growth.
Andy Constan discussed the unique chip deals OpenAI and Meta structured with AMD, which could essentially value the chips at zero if AMD shares exceed $600.

Positioning & Flows

The Market Ear reported a divergence where the Magnificent 7 rose while the Semiconductor Index (SOX) fell, hinting at potential upcoming CAPEX cuts.
The Market Ear also highlighted that one of Wall Street's biggest year-to-date AI winners is currently seeing investor positioning at multi-year lows.
3Actions4 · save now, convert to tasks later

Watchlist

4 items
Track the July 29 FOMC rate decision and whether futures continue to price in hike risks.
Monitor upcoming tech earnings calls for commentary on long-term AI CAPEX versus short-term ROI pressures.
Watch the 13% drawdown level in semiconductor stocks to see if support holds or if it deepens toward a 20% correction.
Monitor weekly jobless claims following the drop to 208k to gauge labor market tightness.
What's expectedstocks, next 1–2 weeks
Fed interest rate decision and policy statement29 Jul
Further Q2 corporate earnings releases and CAPEX guidancethis week
Volatile narrative shifts in high-multiple semiconductor and AI names
LLM read from today's sources qualitative read, no buy/sell calls
Macro backdropat a glance
Fed pathCurve flat (+41 bp)
10Y Treasury4.55% · Easing
Crude (WTI)$79.2 · Cost push