New York Stock Market: Heightened Caution Over Middle East Crisis; Focus on Big Tech Earnings

Here is the latest from the New York stock market.

The three major U.S. stock indices continued their downward trend for the third consecutive trading session, with the Nasdaq and S&P 500 closing slightly lower.

The healthcare and industrial sectors led the market decline, both falling by over 1%.

On this day, the New York stock market saw heightened caution amid escalating military tensions between the U.S. and Iran, as well as rising international oil prices.

As the U.S. continued its airstrikes against Iran, the pro-Iranian Houthi rebels declared a naval blockade of Saudi Arabia. With U.S. President Trump issuing warnings of retaliation, concerns over potential disruptions to crude oil supplies in the Strait of Hormuz and the Red Sea have resurfaced.

Consequently, Brent crude reached $89.22 per barrel, and West Texas Intermediate (WTI) hit $83.23 per barrel, both marking their highest levels in a month.

However, the losses narrowed toward the end of the session as the Iranian Foreign Ministry hinted at the possibility of negotiations and reports emerged regarding ceasefire proposals from mediating countries.

The market is now focusing on the second-quarter earnings reports of big tech companies, which begin this week.

Starting with Tesla and Alphabet on July 22, the outcomes of corporate AI investments and future earnings outlooks are considered key variables.

By stock, semiconductor and AI-related shares, which had previously seen significant declines, rebounded as bargain hunting emerged; Micron and SanDisk both rose by around 2%.

Amid the ongoing geopolitical crisis in the Middle East and fluctuations in oil prices, attention is focused on whether the earnings of major tech companies to be released this week can serve as a momentum for a market rebound.
※ Please note: This article was translated by AI and may contain errors.