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Weekly Market Snapshot: Mideast Tensions and Chip Selloff Rattle Global Markets (July 13–17)

  Week of July 13–17, 2026 It was a rough week to be a tech investor and a good week to own oil. Escalating conflict between the US and Iran pushed crude sharply higher and rattled global markets, while a fresh wave of selling in semiconductor stocks dragged US and Asian indices lower. Closer to home, the Bank of Canada held its key rate steady, and the TSX—less exposed to chipmakers—held up noticeably better than its US and Asian peers. Here’s how the week broke down across every major market, and what it means for your wallet. 🇨🇦 Canada: TSX Day Close Change Mon, Jul 13 35,252.72 -0.15% Wed, Jul 15 (BoC day) 35,416.20 +0.27% Thu, Jul 16 35,340.15 -0.21% Fri, Jul 17 ~35,262 -0.22% Week total (Fri-to-Fri) — ~flat (about -0.1%) The TSX had a choppy but ultimately quiet week compared with its global peers. Monday's session opened with the Strait of Hormuz blockade headlines and closed lower. Wednesday brought a relief rally after the Bank of Canada's rate hold, with financials ...
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Dow Leads Gains Amid Earnings Surge

 

In today’s stock market, the Dow Jones Industrial Average (^DJI) took the lead, rising approximately 0.3%. The broader market also saw positive movement, with the S&P 500 (^GSPC) climbing around 0.2%. Even the tech-heavy Nasdaq Composite (^IXIC) managed to erase earlier session losses and finish in the green.

Investors are closely monitoring earnings season, which is now halfway done. The question on everyone’s mind: Can strong earnings results reignite the stock rally?

Here are some notable highlights from today’s market:

  1. Spotify (SPOT): Shares of the music streaming giant surged after the company provided robust guidance.

  2. Eli Lilly (LLY): The pharmaceutical company’s stock popped as its 2024 profit forecast exceeded estimates.

  3. New York Community Bank (NYCB): Unfortunately, investor concerns over the health of this commercial real estate lender caused its shares to plummet by more than 22%.

Additionally, comments from Federal Reserve officials added to the market chatter. Cleveland Fed President Loretta Mester emphasized caution in moving interest rates down too soon, while Minneapolis Fed President Neel Kashkari acknowledged positive inflation data but stressed that the Fed isn’t fully prepared to tackle higher prices yet.

As the market navigates these dynamics, investors remain vigilant about the possibility of interest rate cuts and the impact on their portfolios. 

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