NEW YORK, July 28, 2026, 16:45 EDT
- The cash session ended, while after-hours trading continued up to 20:00 EDT.
- The Dow rose 1.03%. The S&P 500 increased 0.21%, whereas the Nasdaq slipped 0.22%.
- Ford Motor NYSE:F and Seagate Technology NASDAQ:STX saw early gains in after-hours trading. Shares of Visa NYSE:V declined.
Wall Street ended Tuesday with a mixed performance, as major indices masked a wider market rally. The Dow added 537.24 points to close at 52,747.32. The S&P 500 finished at 7,428.78, and the Nasdaq declined to 24,876.91.
Equal-weight shares gave the signal for investors. These stocks posted strong outperformance over the capitalization-weighted market, even as semiconductor shares saw another selloff.
The Invesco S&P 500 Equal Weight ETF NYSEARCA:RSP advanced 1.16%, while the SPDR S&P 500 ETF Trust NYSEARCA:SPY edged up 0.19%. This resulted in a 0.97 percentage point difference in performance.
Equal weighting assigns each S&P 500 constituent identical influence, signaling wider participation instead of momentum concentrated among a handful of major companies.
Market breadth supported the trend, with advancers on the S&P 500 surpassing decliners by roughly 2.5 to one. Trading activity stayed near its average over the last 20 days.
Healthcare climbed 2.4%, consumer staples were up 2%, and materials added 1.7%. Technology slipped 1.4%. The PHLX semiconductor index declined 4.5%. Baird investment strategist Ross Mayfield commented: “Part of it is value.” Reuters
Tuesday’s rotation was reflected in closing prices and fund quotes.
| Market gauge | Close or price | Tuesday move |
|---|---|---|
| Dow Jones Industrial Average | 52,747.32 | up 1.03% |
| S&P 500 | 7,428.78 | gained 0.21% |
| Nasdaq Composite | 24,876.91 | down 0.22% |
| Equal-weight S&P ETF (RSP) | $217.69 | rose 1.16% |
| Cap-weighted S&P ETF (SPY) | $740.86 | edged up 0.19% |
| Semiconductor ETF (SOXX) | $491.46 | fell 4.91% |
Coca-Cola NYSE:KO rose 5% following an increase in its yearly outlook. Boeing NYSE:BA advanced 4.8% as it reported positive free cash flow. The gains in both shares contributed to the Dow’s best day in four weeks.
The downturn in chips persisted. The PHLX semiconductor index was 25% under its record close from June 22, but it was still up 56% since the start of the year. The disparity points to an overbought trade unwinding, not vanishing altogether.
Following the close, investors continued to back firms with strong artificial-intelligence demand. Seagate shares surged 8.8% in after-hours trading, recovering most of their 8.3% drop from the regular session. The rally nearly offset the earlier slide.
Seagate posted adjusted earnings of $5.71 per share, surpassing the forecast of $5.10. Revenue rose by 49% to approximately $3.6 billion. The company’s revenue outlook for the next quarter came in at $4.1 billion, topping estimates.
Ford gained over 6% after raising its yearly adjusted operating profit outlook to a range of $10 billion to $11 billion. The automaker reported adjusted earnings of 42 cents per share for the quarter, surpassing the 35-cent consensus highlighted by Reuters.
“Our industrial system is getting fitter,” Chief Financial Officer Sherry House stated. Ford’s core profit increased by 20% to reach $2.5 billion, while the automaker posted a net loss of $1.3 billion. Reuters
Visa shares fell roughly 1.3% in after-hours trading, even as the company reported robust operating results. Both payments volume and processed transactions increased by 10%. Adjusted earnings came in at $3.32 a share. The muted response indicated that surpassing headline estimates may not be enough to satisfy high investor expectations.
The Federal Reserve is set to release its decision on Wednesday at 14:00 EDT. Futures contracts indicated a 71% chance rates will remain steady, with a 29% probability given to a 25-basis-point hike.
Meta Platforms NASDAQ:META and Microsoft NASDAQ:MSFT are set to release results after Wednesday’s closing bell. Amazon.com NASDAQ:AMZN and Apple NASDAQ:AAPL will announce on Thursday. The companies’ expenditure and cash flow figures will show if Tuesday’s rotation out of tech stocks persists.
Analysts project that S&P 500 earnings for the second quarter will climb 39% compared with the same period last year. Much of this anticipated increase comes from companies tied to artificial intelligence. Seagate’s recovery demonstrated that investors continue to value tangible demand. Meanwhile, the wider market has signaled that evidence is now necessary.
Risks are still focused. An unexpected move by the Fed to raise rates may push yields higher and put stress on stocks with high valuations. If Big Tech continues to deliver poor cash returns, the semiconductor downturn could intensify. Another oil shock could also threaten the consumer-driven gains seen on Tuesday.
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