
Pre-Market Pulse 26th July – Tech wreck continues in Mag7
Equities attempted a rebound early in the session but failed to hold those gains as Google led the Mag7 lower

Equities attempted a rebound early in the session but failed to hold those gains as Google led the Mag7 lower

Equities suffered their biggest one day loss since 2022 as tech stocks nosedived following underwhelming second-quarter earnings from heavyweights Alphabet and Tesla.

Equities rallied Friday, clinching its best week since November, as stronger-than-expected earnings from Microsoft and Alphabet revived investor optimism in the AI-led tech bull run.

Google saved the day in afterhours trade, rallying 13% as equities closed lower, but well off session lows

Tech stocks led the market lower as the Federal Reserve’s chairman Jerome Powell said it was unlikely that the Fed would cut rates in March, dealing a blow to hopes for sooner rate cut that added fuel to the tech-led selloff.

Stocks were mixed leading into Mega Cap earnings from Microsoft and Google which were released after the bell as continued strength in the labour market relieved pressure on the Fed to bring forward rate cuts

Equities rebounded Monday, bracing for key inflation data ahead of Federal Reserve’s policy meeting, despite market fluctuations and inflation concerns.


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