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Oil Breaks $100 a Barrel, Tech Stocks Tumble: Markets Today

  Friday, July 24, 2026 Global markets are ending the week on shaky footing. Brent crude briefly broke above $100 a barrel for the first time in months as Middle East tensions escalate, while a wave of disappointing Big Tech earnings triggered the steepest one-day tech selloff in weeks. The TSX pulled back from Wednesday's record high, Wall Street's major indexes all closed lower, and Asian markets are extending the losses into Friday trading. The bottom line: Oil is up almost 38% this month on Middle East supply fears, and that's starting to show up everywhere — from gas pumps to bond yields to central bank odds. At the same time, investors are questioning whether the AI spending boom can keep justifying its price tag. That combination hit stocks hard on Thursday. 🇨🇦 TSX: Pulling Back From Record Highs The S&P/TSX Composite fell 0.82% Thursday to close at 35,193 , a day after touching a fresh all-time high of 35,485. The index opened sharply lower and fell as much...
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Market Resilience Amid Rising Yields and Positive Earnings

 

In a display of resilience, the S&P 500 closed marginally higher after a session marked by volatility, as investors navigated the dual forces of climbing Treasury yields and encouraging corporate earnings, particularly from tech behemoths.

  • Treasury Yields Climb: An auction of $70 billion in five-year U.S. Treasury notes drove yields higher, influencing equity markets. The 10-year Treasury note rose to 4.6459%.
  • Tech Giants’ Earnings: Investors’ attention was captured by earnings reports from major technology companies. Meta Platforms saw a dip in after-hours trading, while Microsoft and Alphabet are poised to report later in the week.
  • Tesla’s Surge: Tesla’s stock leapt by 12% as plans to increase production and introduce more affordable models outweighed its weaker quarterly results.
  • Economic Indicators Awaited: Markets are now looking ahead to the first quarter GDP data and March’s personal consumption expenditures, which could signal the Fed’s interest rate trajectory.

Investors remain cautious yet optimistic as they parse through the latest financial data, seeking signs of stability in a fluctuating economic landscape.

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