Week In Perspective | Earnings Season Arrives; Investors Take a Breath [27-July-26]

Updated: 07-27-2026

Melissa N. Osika, MBA

The Week on Wall Street

Stocks ended last week down as Q2 corporate results, Middle East developments, and the chips trade took investors for a choppy ride.

The Nasdaq Composite Index was under the most pressure, falling 2.13 percent. The Standard & Poor’s 500 Index lost 0.61 percent, while the Dow Jones Industrial Average slipped 0.38 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, rose 0.35 percent.^1,2

A Volatile Week

After a sluggish start on Monday, stocks rebounded on Tuesday as the chips trade led the markets higher, as investors turned their attention to Q2 corporate earnings results.³

Then stocks stalled midweek as oil prices and bond yields rose and investors digested some initial Q2 reports. The S&P 500 ended just below the flatline, while the Dow went sideways and the Nasdaq posted a modest loss.⁴

Stocks opened lower Thursday as mixed corporate updates from two of the world’s largest companies soured investor sentiment. One company said it was raising its AI spending forecast for the year, which unsettled investors who believed other companies may have to do the same.⁵

Sentiment turned positive Friday morning as investors cheered quarterly results and guidance for one big tech company. But markets retreated in the afternoon as investors fretted over oil prices.⁶

The Importance of Guidance

Last week was one of the busiest for the Q2 2026 corporate reporting season.⁵

Corporate earnings are a key driver of stock prices, so updated corporate guidance can increase market volatility. Last week, two influential companies said they intended to spend more money this year than expected, which caught investors off guard.⁵

As more Q2 corporate reports get released, expect investors to pay close attention to any spending updates for other companies.

This Week: Key Economic Data

Monday: Durable Goods.

Tuesday: Federal Open Market Committee (FOMC) meeting—Day 1. Advance Economic Indicators. Retail & Wholesale Inventories. S&P Cotality Case-Shiller Home Price Index. Consumer Confidence.

Wednesday: FOMC meeting—Day 2. Fed Interest Rate Decision.

Thursday: Gross Domestic Product (GDP), Q2. Weekly Jobless Claims. Personal Consumption Expenditures (PCE) Price Index.

Friday: Employment Cost Index. University of Michigan Consumer Survey (Final).

Source: Investor’s Business Daily - Econoday economic calendar: July 24, 2026.

The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision.

This Week: Companies Reporting Earnings

Monday: Welltower Inc. (WELL), Cadence Design Systems, Inc. (CDNS), Nucor Corporation (NUE)

Tuesday: Visa Inc. (V), The Coca-Cola Company (KO), KLA Corporation (KLAC), The Boeing Company (BA), Corning Incorporated (GLW), S&P Global Inc. (SPGI), United Parcel Service, Inc. (UPS), Waste Management, Inc. (WM), The Sherwin-Williams Company (SHW), Illinois Tool Works Inc. (ITW), Mondelez International, Inc. (MDLZ), American Tower Corporation (AMT), Ecolab Inc. (ECL), Hilton Worldwide Holdings Inc. (HLT)

Wednesday: Microsoft Corporation (MSFT), Meta Platforms, Inc. (META), Lam Research Corporation (LRCX), The Procter & Gamble Company (PG), Amphenol Corporation (APH), Qualcomm Incorporated (QCOM), Starbucks Corporation (SBUX), Vertiv Holdings Co. (VRT), Fortinet, Inc. (FTNT), Equinix, Inc. (EQIX), General Dynamics Corporation (GD), Automatic Data Processing, Inc. (ADP), Robinhood Markets, Inc. (HOOD)

Thursday: Apple Inc. (AAPL), Amazon.com, Inc. (AMZN), Mastercard Incorporated (MA), Bristol Myers Squibb Company (BMY), Altria Group, Inc. (MO), Stryker Corporation (SYK), The Southern Company (SO), Quanta Services, Inc. (PWR), Valero Energy Corporation (VLO), KKR & Co. Inc. (KKR), Intercontinental Exchange Inc. (ICE), Cigna Group (CI), American Electric Power Company, Inc. (AEP)

Source: Zacks, July 24, 2026. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your goals, time horizon, and risk tolerance. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule their earnings reports without notice.

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