Wall Street endured another volatile week as investors balanced second-quarter earnings season, AI spending concerns, and several developments in the Middle East. The Dow Jones Industrial Average (DJI), Nasdaq Composite Index (IXIC), and S&P 500 Index (SPX) swung sharply throughout the week, though disappointing Big Tech earnings, higher oil prices, and renewed chip weakness pressured stocks. By this week's end, all three major indexes were headed for weekly losses.
Earnings Winners and Losers
Earnings season dominated the week's headlines. Domino's Pizza (DPZ) extended its rebound after a quarterly revenue beat, while 3M (MMM) surged after strong results helped lift the broader market. Alphabet (GOOGL) and Tesla (TSLA) came under pressure after their quarterly reports, with investors focusing on artificial intelligence spending and capital expenditure plans. Elsewhere, Cal-Maine Foods (CALM) slid after posting a surprise quarterly loss, while Intel (INTC) brushed off its best revenue growth in 15 years.
Tech, AI in Focus
Technology names remained in focus beyond the week's earnings reports. Rocket Lab (RKLB) jumped after securing an Air Force contract. Super Micro Computer (SMCI) outperformed following preliminary fourth-quarter results, while IREN (IREN) rallied after highlighting stronger data center revenue. Meanwhile, Applied Materials (AMAT), Texas Instruments (TXN), and Credo Technology (CRDO) attracted bullish attention as investors continued to monitor opportunities across the semiconductor space.
Looking Ahead
Next week will bring a barrage of corporate earnings, with Big Tech heavy-weights Microsoft (MSFT), Meta Platforms (META), Amazon.com (AMZN), and Apple (AAPL) all scheduled to report. The Federal Reserve's interest rate decision is also due Wednesday.
In the meantime, learn why psychologically significant price levels can be a Trojan horse and why the S&P 500's rangebound trading could continue this month. Plus, take a look at what history says about buying broken IPOs after SpaceX's blunder.
