5 lessons from the week that moved markets 17/07/2026

 HOT stories for today

Market wrap:

• US stocks ended lower Thursday as renewed weakness in semiconductor shares weighed on the broader market. The S&P 500 fell 0.5%, while the Nasdaq Composite dropped 1.5%. The Dow Jones Industrial Average declined about 106 points, or 0.2%. Chipmakers led the retreat, with the VanEck Semiconductor ETF (SMH) sliding nearly 4%. Taiwan Semiconductor (TSM) lost more than 2% after reporting mixed second-quarter results and raising its full-year capital-spending outlook. Marvell Technology (MRVL), STMicroelectronics (STM) and Micron Technology (MU) also moved lower. The semiconductor ETF is now down 6.9% for the week and is on track for its third weekly decline in four weeks.
• The major indexes are also lower week to date, with the S&P 500 down 0.6%, the Nasdaq off 1.5% and the Dow slipping 0.2%. Alphabet (GOOGL) also came under pressure following a report that the release of its most advanced AI model, Gemini 3.5 Pro, has been delayed. Despite recent volatility in the AI trade, the S&P 500 remains roughly 1% below its record high. The 10-year Treasury yield fell 2 basis points to 4.549%, while gold edged higher and silver declined. Oil prices rose as escalating US-Iran tensions renewed concerns over potential supply disruptions through the Strait of Hormuz. Investors will now turn to preliminary University of Michigan consumer sentiment and inflation expectations, alongside the latest housing-starts data.

Netflix Forecast Disappoints

• Netflix (NFLX) shares fell more than 8% in after-hours trading after the streaming giant delivered second-quarter results that largely matched expectations but issued a softer-than-expected outlook. Revenue rose 13% year over year to $12.56 billion, driven by subscriber growth, higher subscription prices, and expanding advertising revenue.
• Adjusted earnings also came in slightly ahead of forecasts. Investor sentiment weakened after Netflix projected 12% third-quarter revenue growth and narrowed its full-year revenue guidance, while announcing it will publish its "What We Watched" engagement report only once a year beginning in 2027. Management said viewer engagement remains healthy, with more than 97 billion hours of content watched in the first half of the year, and reaffirmed its expectation to roughly double advertising revenue to $3 billion in 2026, supported by growing demand for live sports and its ad-supported subscription tier.

Stocks on the move:

• Alcoa (AA): Shares slipped 2% despite reporting stronger-than-expected second-quarter results. The aluminum producer posted adjusted earnings of $2.12 per share on revenue of $3.97 billion, topping analyst estimates. Investors, however, focused on the company's lower 2026 alumina production outlook.
• Intuitive Surgical (ISRG): Shares dropped 10% after the robotic-surgery company reported quarterly results. While earnings and revenue exceeded Wall Street expectations, the company maintained its full-year procedure growth forecast of around 14%, disappointing investors hoping for stronger guidance.
• AST SpaceMobile (ASTS): Shares tumbled more than 16% after the satellite broadband company announced plans to issue $1 billion of convertible senior notes due 2034 through a private offering.
• UnitedHealth Group (UNH): Shares gained 4% after the health insurer reported better-than-expected second-quarter earnings and revenue. The company also raised its full-year earnings outlook, adding to investor optimism.

Watchlist: NFLX, ISRG, AA, TRV, MU, SNDK, GOOGL, MSFT, SPCX, ASTS

Key Economic Events Today:

EST time

08:30 am: USD Housing Starts, Import Prices
08:30 am: USD Building Permits
09:15 am: USD Industrial Production
10:00 am: USD Consumer Sentiment
10:00 am: USD Inflation Expectations


Earnings

BMO (Before Market Open): The Travelers Companies (TRV), Truist Financial Corp. (TFC), Fifth Third Bank Corp. (FITB), Regions Financial Corp. (RF)



The TEFS Analyst team wishes you a successful day!