Weekly Market Recap: Friday, July 24, 2026 — Market Analysis

Key Themes This Week

• •U.S. stocks posted weekly losses as escalating conflict in the Middle East drove oil prices above $100 per barrel for the first time since May, raising inflation concerns and pressuring equities across sectors.
• •Big Tech earnings revealed a troubling pattern: while companies like Alphabet and Tesla beat revenue expectations, massive AI infrastructure spending and margin compression sent shares sharply lower, with investors questioning the return on capital expenditures.
• •The week highlighted a stark rotation away from mega-cap technology stocks, with the Nasdaq declining 2.1% for the week while defensive sectors showed relative strength amid heightened geopolitical uncertainty.