Trade Secrets: Dailies 07.24.2026

US Stocks attempt a tentative rebound heading into Friday's close as Intel's strongest revenue growth in 15 years steadies the chip sector and oil pulls back from its $100 breach, but Trump's sweeping new tariffs on 60 trading partners effective today add a fresh macro headwind to a market already reeling from its worst Magnificent Seven selloff since April 2025.

S&P 500 futures rose 0.2%, Nasdaq-100 futures ticked up 0.1%, and Dow Jones futures advanced 204 points or about 0.4% heading into Friday's open, steadying after Thursday's bruising session in which the Dow shed 541 points or 1.0% to 51,711.65, the S&P 500 dropped 1.2% to 7,408.30 — its worst day in a month — and the Nasdaq Composite fell 2.2% to 24,976.46. The Magnificent Seven gauge posted its worst single day since the April 2025 tariff meltdown, with Tesla plunging 14.5% and Alphabet sliding 6.5% after its capex hike to $195–$205 billion. Combined Mag Seven losses on Thursday erased roughly $797 billion in market cap in a single session.
Intel (INTC) is the premarket stabilizer, rising 3%–5% after reporting Q2 revenue of $16.1 billion — up 25% year-on-year, its sharpest quarterly growth in nearly 15 years — with adjusted EPS of $0.42, both beating analyst estimates. Data center and AI business revenue reached $6.26 billion versus the $5.37 billion estimate. The company issued Q3 sales guidance of $15.8–$16.8 billion and raised its 2026 capital spending plan to $20 billion, with investment set to rise further in 2027. However, Intel reversed sharply during Thursday's session, closing down 7.89% to $92.32 as investors refocused on foundry customer concentration risk, high capex relative to peers, and the possibility the company may tap equity markets for additional funds.
Trump imposed sweeping new tariffs of 10%–12.5% on imports from 60 trading partners effective today, covering nearly all US imports and replacing the emergency levies previously voided by the Supreme Court. The measures, built on more legally durable grounds tied to forced labor designations, target major US partners including Mexico, Canada, China, and the EU — most of which contest the designation. Oil, gas, and certain foodstuffs are exempt. The US Treasury simultaneously pressed the Bank of Japan to keep raising interest rates as the yen hit a fresh 40-year low, a remarkable intervention in a trading partner's monetary policy.
Oracle (ORCL) rose nearly 3% in premarket after winning a 10-year Pentagon software contract worth up to $7 billion. S&P Global's flash July PMIs for both Manufacturing and Services are due at 9:45 a.m. ET — the first read on July economic activity and the key data point of a light session, closely watched as a rates signal given the 10-year Treasury yield's brief surge to its highest level since January 2025 on Thursday. New home sales for June print at 10:00 a.m. ET.
Brent crude pulled back from Thursday's intraday high of nearly $100.50, settling around $96.88 on Friday morning before paring further. WTI futures retreated to around $88.62–$88.96, down more than 3% from Thursday's spike, as profit-taking and a degree of ceasefire optimism offset the structural two-chokepoint supply problem. Iran-backed Houthis struck two Saudi oil tankers in the Red Sea Thursday, prompting Trump to threaten "major military punishment" and warn he was weighing a "massive attack" on Iran. Gold held above $4,100 an ounce, while Bitcoin hovered near $65,000–$66,000 as the US Senate continued debate on the Clarity Act crypto market structure bill. The VIX remained bid near 18.9, suggesting protection bought into Thursday's rout had not been fully unwound.
Asian markets sold off sharply Friday, hit by the dual shock of Trump's new tariffs and Brent topping $100 overnight. Japan's Nikkei 225 slumped 2.5%–3.2% to 64,377.28, extending losses for a third straight week, with technology names leading declines and Japan's June core CPI accelerating to 1.6% — its highest since March — as higher oil prices began spilling into the broader economy. The US Treasury's unusual public pressure on the BOJ to keep hiking rates added further complexity to Tokyo's policy calculus, with the yen near 163.80 per dollar.
South Korea's KOSPI tumbled 5.8%–5.9% to close near 6,670, with Samsung Electronics shedding 8% and SK Hynix losing 7.4%. Both KOSPI and KOSDAQ sidecar circuit breakers were triggered during the session after KOSPI 200 futures fell more than 5% in a single minute. South Korea's financial regulator moved up the start date for stricter deposit requirements on retail leveraged ETFs tied to Samsung and SK Hynix to July 31, requiring a minimum cash deposit of roughly 30 million won, or approximately $20,000, targeting speculative retail trading that regulators say has amplified volatility throughout July. Hong Kong's Hang Seng fell 1.3% to 24,891.84. China's Shanghai Composite shed 1.2% to 3,830.19. Australia's S&P/ASX 200 lost 1.0% to 8,755.10.

Global Indices:

Active Stocks:

Stocks, ETFs and Funds Screener:

Forex:

CryptoCurrency:

Events and Earnings Calendar:

This daily briefing is curated from a wide range of reputable sources including news wires, research desks, and financial data providers. The insights presented here are a synthesis of key developments across global markets, intended to inform and spark thought.

No Investment Advice: This content is for informational purposes only and does not constitute investment advice, recommendation, or endorsement.

Timing Note: Each edition is assembled based on the market context available at the time of writing. Timing, emphasis, and interpretations may vary depending on global developments and publishing windows.