NEW YORK, July 21, 2026, 4:06 p.m. EDT – Wall Street advanced after the close on Tuesday, boosted by a sharp recovery in semiconductor shares, though gains among Nasdaq components stayed narrow as breadth continued to lag.
- The S&P 500 closed up 0.85%, with the Nasdaq advancing 1.34%. The Dow climbed 0.76%.
- Semiconductor stocks climbed roughly 5.5%. However, new lows on the Nasdaq surpassed new highs, with 103 to 41.
- Brent crude closed at over $91, as the 10-year Treasury yield climbed to 4.640%.
U.S. equities finished stronger on Tuesday, with investors moving back into semiconductor stocks that had previously fallen. The main session concluded at 4 p.m. EDT, followed by after-hours trading.
The headline increase masked the underlying weakness on the Nasdaq. The index saw 103 stocks hit new lows, while just 41 reached new highs. This amounts to a ratio of 2.5 lows per high.
Tuesday’s session ended with index gains, while market internals remained divided.
| Market measure | Tuesday result | Investor read |
|---|---|---|
| S&P 500 | 7,506.88; +0.85% | Main index moved higher |
| Nasdaq Composite | 25,850.97; +1.34% | Semiconductor stocks lifted gains |
| Dow Jones | 52,235.23; +0.76% | Results buoyed industrial shares |
| Philadelphia semiconductor index | About +5.5% | Gain was nearly 6.5 times that of S&P |
| Nasdaq 52-week highs/lows | 41 / 103 | Lows outnumbered highs by about 2.5 to 1 |
On Nasdaq, advancers led decliners by a ratio of 1.64-to-1. Numerous stocks rebounded. However, longer-term price momentum stayed under pressure.
The difference is significant following last week’s tech sector decline. The Nasdaq dropped 2.9%, the S&P 500 was down 1.6%, and the Dow slipped 0.9%.
Nasdaq climbed roughly 1.3% over Monday and Tuesday, recouping under half of its drop from last week.
Micron Technology NASDAQ:MU surged approximately 12.5%, while Nvidia NASDAQ:NVDA rose around 2%. Both companies were among the top contributors to the S&P 500’s gains.
Earnings split the market as 3M NYSE:MMM climbed nearly 7% following its boost to full-year profit guidance. Hasbro NASDAQ:HAS advanced after lifting both revenue and profit outlooks.
Shares of Danaher NYSE:DHR dropped about 11% as a lowered core-revenue growth forecast offset a quarterly performance that was otherwise strong.
Lindsey Bell, chief investment strategist at 248 Ventures, stated that the results may be robust. Still, “the stocks are also priced for perfection.” Reuters
Bond and oil markets were less reassuring. Brent crude advanced 2.08% to $91.08 per barrel, while U.S. crude climbed 2.32% to $85.16.
The yield on the 10-year Treasury climbed to 4.640%, the highest level since May 20. Elevated oil prices and Treasury yields increase the earnings bar for high-valuation technology stocks.
Wednesday brings the next round of results, with Alphabet NASDAQ:GOOGL, Tesla NASDAQ:TSLA, and IBM NYSE:IBM set to report their quarterly earnings. Intel NASDAQ:INTC is due to post its results after markets close on Thursday.
Preliminary estimates: LSEG projects Alphabet revenue at $116.93 billion, an increase of 21.3%. Cloud revenue is anticipated to rise by roughly 64%. Investors are set to compare this growth to the $180 billion-$190 billion in capital spending planned for 2026.
Risks: A fresh jump in oil prices, rising Treasury yields, or disappointing megacap outlooks could swiftly halt the rally in chip stocks. Additional tariff concerns also pose an immediate risk.
The session ended on a positive note but lacked finality. For Tuesday’s rebound to signal a lasting recovery, earnings need to extend market gains beyond semiconductors.
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