Traders work on the floor of the New York Stock Exchange (NYSE) on July 21, 2026 in New York City.
Spencer Pratt | Getty Images
of S&P500 Stocks fell on Wednesday, weighed down by rising oil prices, as investors looked ahead to another busy day for corporate earnings.
The broader market index fell 0.2%, while Nasdaq Composite It fell 0.5%. of Dow Jones Industrial Average It rose by 88 points (0.2%).
brent crude oil futures Prices rose 2% to over $93 per barrel, the highest price in about a month, and at one point exceeded $95. West Texas Intermediate Futures The price rose 2% to more than $86 per barrel.
Oil prices rose after 11 consecutive U.S. attacks on Iran, and Secretary of State Marco Rubio said Iran was “not serious about talks.”
“If they are serious, we are serious. If they are not, we will do what is necessary to protect our interests and the interests of our allies,” he said.
Rubio also said the U.S. military “will continue to protect ships” passing through the Strait of Hormuz.
Traders are keeping an eye on crude oil as it could continue to push consumer goods prices higher, which could lead to the U.S. Federal Reserve raising interest rates.
As of Wednesday morning, federal funds futures traders were pricing in a 24% chance the Fed would raise rates this month. Traders were pricing in a 70% chance of a rate hike of at least a quarter of a point in September, according to the CME FedWatch tool.
More revenue
Earnings will be back in the spotlight on Wednesday with the release of the report. ServiceNow, international office machine, tesla, texas instruments and alphabet. Investors will be closely monitoring updates on AI spending, cloud demand, enterprise technology budgets, and the outlook for the second half of the year.
Investors remain focused on whether strong demand for AI infrastructure and software continues to justify elevated valuations across the technology sector as earnings season accelerates.
“While second-quarter earnings season is in full swing, most hyperscalers have not yet issued their reports, so the market is still waiting for definitive information on how AI investments will be monetized and translated into future capital spending,” said Julia Herman, global market strategist at New York Life Investment Management.
shares of super microcomputer Shares rose 14% after the server maker predicted higher-than-expected fiscal fourth-quarter profit margins after the company said it had won more than $60 billion in new orders in the same period.
AT&T Shares rose 4% after the company reported better-than-expected second-quarter results. vice versa, GE Vernova Shares fell 6% after the company’s second-quarter profit fell short of expectations.
