The Week That Was, The Week Ahead: Macro and Markets, July 26

S&P 500 Wavers as Chip Rout Offsets Oil Decline: Markets Wrap

Semiconductors fell 4.4% as oil declined; yet 85% of S&P 500 companies beat earnings—the highest five-year rate. The chip rout signals market doubts on AI infrastructure ROI sustainability. Falling oil prices ease inflation, reducing aggressive Fed tightening odds.