US OPEN: Deeper sell-off and a SaaS rebound

For the time being, the market remains trapped in a web of conflicting price signals, risks, and uncertainty. The conflict in the Middle East is currently in a de-escalation phase, technology companies are keeping the market on edge ahead of earnings, and many investors are asking how closely the new Fed Chair will follow long-established patterns, despite openly rejecting them.

At the Wall Street open, US500 futures are down about 0.3%. US100 is doing worse, sliding by about 1.5%. US30 is performing better, up about 0.5%.

Within the NASDAQ100 technology index, SaaS companies stand out with strong gains, led by Shopify and Workday. Semiconductor and memory stocks remain under pressure.

Company news:

Applied Digital (APLD.US): The digital infrastructure provider, focused mainly on cryptocurrencies, reported results well above market expectations, turning an EPS loss of $0.04 into a profit of $0.19. Revenue came in at $258 million, more than twice the consensus estimate. The stock is up more than 5%.
Amkor Technology (AMKR.US): The semiconductor manufacturer is down more than 10% following its earnings call and a sales outlook below market expectations.
Carrier Global (CARR.US): The HVAC solutions provider is down more than 4% after disappointing Q2 2026 results.
Coca-Cola (KO.US): The food and beverage conglomerate released Q2 2026 results. The company delivered EPS above expectations ($0.97 vs. $0.93), and management raised its full-year organic growth forecast to 5%. The shares are up around 3%.
S&P Global (SPGI.US): The analytics and consulting company is down more than 5% after Q2 2026 results clearly disappointed investors on profitability ($4.83 vs. $5.02).

Technical analysis of US100 (D1)

The market has broken below the resistance defined by the EMA100 moving average, approaching the 161.8% Fibonacci extension of the May upswing. RSI (14) has reached its lowest level since March 2025, below 35. Source: xStation5

Macroeconomic data:

Half an hour after the market opens, the Conference Board Consumer Confidence reading will be released. The market consensus expects an increase to 92.1.
Shortly after U.S. trading ends, the API crude oil inventories report will be published. The market is currently pricing in a decline of about 1.35 million barrels, versus a previous increase of 2.6 million barrels.

28 July 2026, 3:09 PM

The semiconductors sell-off continues 📉

28 July 2026, 12:58 PM

ASML sell-out: Dreams and rumors will not break the monopoly

28 July 2026, 7:31 AM

Morning Wrap: US halt to attacks balanced by semiconductor sector declines (28.07.2026)

23 July 2026, 2:30 PM

Texas Instruments earnings: Growth without cash

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