Daily Market Report – July 23, 2026

Markets The oil price surge and doubts about the returns of high AI investments pushed the S&P 500 (SPX) down by 1.41 percent to 7,393 points. The Nasdaq 100 (NDX) fell by 2.19 percent to 28,363 points. The Dow Jones (DJI) closed 1.06 percent lower at 51,667 points, while the DAX (DAX) lost 1.56 percent to 24,763 points. The yield on ten-year US Treasury bonds (US10Y) rose to 4.70 percent as the energy shock shifted expectations for monetary policy. In light of the escalation in the Iran war and the attacks in the Red Sea, Brent crude oil (UKOIL) increased by 7.05 percent to $100.70. Company Alphabet (GOOGL) lost 6.85 percent to $318.66 after increasing its investment plan and facing an EU fine for violations in the search and app business. Tesla (TSLA) fell 14.10 percent to $321.27. Discounts and higher expenses for AI and robotics weighed on the results.

Microsoft (MSFT) replaces image models from OpenAI in PowerPoint and Bing with its own technology. At the same time, the company is realigning its strategy for cloud-based games. STMicroelectronics (STMPA) came under pressure as investors doubted the sustainability of the AI spending boom.

Thermo Fisher Scientific (TMO) raised its revenue outlook following a recovery in demand for laboratory instruments. The stock gained 8.93 percent to $573.47. Eli Lilly (LLY) plans to apply for approval of its obesity drug Retatrutide in 2027 after two additional studies. Nestlé (NESN) fell 7.98 percent to 79.29 francs after high coffee and cocoa prices had impacted profitability.

RTX (RTX) gained 7.28 percent to $209.06 due to the increasing demand for arms resulting from the Iran war. Rheinmetall (RHM) plans to double its powder production in the "Firepower" project. Commerzbank (CBK) came into focus after Unicredit openly expressed its intention to gain control for the first time.

Macroeconomics The ECB kept its key interest rates unchanged. At the same time, the surge in oil prices intensified the debate over a possible interest rate hike in the fall. The energy shock heightened expectations for tighter monetary policy in the markets. The White House announced information regarding expiring US tariffs. At the same time, it intensified its criticism of the EU regarding the Google fine and the financing of Airbus.

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*Created on 07/23/2026 / 15:08 (Europe/Berlin)*