US Stock Market Alert: Nasdaq Crashed 750 Pts Last Week; Wall Street Weekly Outlook For July 27–31

In the early trade of Monday, July 27th, the US stock futures performed higher owing to decline in crude oil prices as US and Iran refrained from attacking each other during the weekend. The risk to supply chain at Strait of Hormuz continues to linger after Iran-backed Houthis in Yemen, claimed attacks on Saudi Arabia, escalating the West Asia conflict.

Overnight, the Dow Jones futures gained by 0.5%, while the S&P 500 futures surged by 0.6%. But the Nasdaq-100 futures zoomed by 1.2%, outperforming the counterparts.

However, Nasdaq was the top loser of last week's trading session. The tech-heavy index, Nasdaq Composite, ended its last week's trading sessions at 24,975.82, registering a weekly decline of 745.05 points or 2.90%.

Other Wall Street benchmarks also plunged on a week-on-week basis. The Dow Jones Industrial Average or DJIA index slipped by 207.32 points or 0.40%. Lastly, the S&P 500 index dropped by 77.20 points or 1.03%.

As per Charles Schwab report, US stocks recorded weekly losses, particularly in the technology space, as rising oil prices and higher Treasury yields keep investors sidelined, despite strong earnings reports.

Last week on July 24th, tech and AI-related stocks such as Sandisk nosedived 11%, Intel crashed 8% despite strong earnings, Marvell Technology and Micron plummeted by 7% each. Furthermore, Broadcom and SpaceX dropped by 3% each. Nvidia, the AI-behemoth, was lower by 1%. Meanwhile, META and Tesla slipped around 2% each.

Wall Street Outlook For July 27-31:

"I'm going to provide an overall "Moderately Bearish" forecast for stocks next week, with a secondary expectation for "Higher Volatility" given all the potential catalysts. What could challenge my outlook? If the U.S. and Iran announce a ceasefire or if there is de-escalation, this will like bring oil prices and yields down and subsequently provide a lift to stocks," said Nathan Peterson, Director of Derivatives Research and Strategy at Charles Schwab.

Explaining further, Peterson pointed out that the U.S. President Donald Trump said he is considering a "massive attack" on Iran to push them into negotiations, and should that occur, oil prices could move back higher next week, which would likely push yields higher and be bearish for stocks.

Putting aside the US-Iran conflict, this week, the market will observe major central banks' policy outcomes. The Federal Open Market Committee (FOMC) meeting will begin on Tuesday, and the outcomes will be announced on Wednesday, while the Bank of Japan (BoJ) will begin its monetary policy meeting on July 30th and the rates decision will be out on July 31st.

Beyond that, stock-specific actions will trigger sentiments as well as four out of Magnificent 7 stocks will declare their quarterly earnings this week. These are Amazon, Apple, Meta and Microsoft.

"MSFT, and if this week's post-earnings reaction to Alphabet's CapEx guidance is an indicator of investor's mood around heavy spending, there could be some risk around these reports," said Peterson.

US Market Economic & Earnings Calendar This Week:

Monday, July 27, 2026:

Durable Orders data will be announced on Monday.

While companies like Alliance Resource Partners LP (ARLP), Bank of Hawaii Corp. (BOH), Brown & Brown Inc. (CRO), Cadence Design Systems Inc. (CDNS), Celestica Inc. (CLS), Coca-Cola Femsa SAB de CV, Dyne Therapeutics Inc. (DYN), F5 Inc. (FFIV), Nucor Corp. (NUE), Principal Financial Group Inc. (PFG), and Welltower Inc. (WELL) are scheduled for quarterly earnings report.

Tuesday, July 28, 2026:

Economic data such as Advanced International Trade in Goods, Advanced Retail Inventories, Advanced Wholesale Inventories, Consumer Confidence, FHFA Housing Price Index, and S&P Case-Shiller Home Price Index scheduled.

Quarterly earnings will be announced by American Tower Corp. (AMT), Barclays PLC (BCS), Bloom Energy Inc. Boeing Co. (BA), Coca-Cola Co. (KO), Corning Inc. (GLW), Electronic Arts Inc. (EA), Ford Motor Co. (F), GSK PLC (GSK), Illinois Tool Works Inc. (ITW), KLA Corp. (KLAC), S&P Global Inc. (SPGI), Seagate Technology Holding PLC (STX), Sherwin-Williams Co. (SHW), Teradyne Inc. (TER), United Parcel Service Inc. (UPS), and Visa Inc. (V).

Wednesday, July 29, 2026:

FOMC Decision, EIA Crude Oil Inventories, and MBA Mortgage Applications Index are scheduled on Wednesday.

Companies like Amphenol Corp. (APH), AON PLC (AON), Arm Holding PLC (ARM), Automatic Data Processing Inc. (ADP), Boston Scientific Corp. (BSX), Deutsche Bank AG (DB), General Dynamics Corp. (GD), Johnson Controls International PLC (JCI), Lam Research Crop. (LRCX), Meta Platforms (META), Microsoft Corp. (MSFT), Qualcomm Inc. (QCOM), Starbucks Corp. (SBUX), UBS Group AG (UBS), and Vertiv Holdings Co. (VRT) will declare quarterly result.

Thursday, July 30, 2026:

Key economic data such as Continuing Claims, EIA Natural Gas Inventories, Q2 GDP - Advanced Reading, Initial Claims, PCE Prices, Personal Income, and Personal Spending are scheduled. However, Japanese stocks across the global will be buzzing due to Bank of Japan's policy meeting from July 30th to July 31st.

However, on July 30th, US market will be stormed by quarterly earnings report of mega giants. These include Amazon.com Inc. (AMZN) and Apple Inc. (AAPL). Other companies are --- Anheuser-Busch InBev SA (BUD), Bristol-Myers Squibb Co. (BMY), Coinbase Global Inc. (COIN), Corteva Inc. (CTVA), Live Nation Entertainment Inc. (LYV), Monolithic Power Systems Inc. (MPWR), Quanta Services Inc. (PWR), Shell PLC (SHEL), Stryker Corp. (SYK), Trane Technologies PLC (TT), and Vale SA (VALE).

Friday, July 31, 2026:

Chicago PMI, Employment Cost Index, and University of Michigan Consumer Sentiment are scheduled.

In terms of earnings, Abbvie Inc. (ABBV), Chevron Corp. (CVX), Colgate-Palmolive Co. (CL), Dominion Energy Inc. (D), Eaton Corp. (ETN), Enbridge Inc. (ENB), Linde PLC (LIN), and Natwest Group PLC (NWG) are scheduled.

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