What Happened Today, Tuesday July 28, 2026, 5:00 PM ET close
Chip weakness pulls the Nasdaq lower as the broad market stays firm ahead of Mag-7 earnings
Semiconductors weighed on the Nasdaq 100 while the S&P 500 finished slightly higher, a split tape as traders positioned for the week's big-tech results.
ES and NQ at the close
NQ, Nasdaq 100 futures
27,960.50
-0.81% on the day
Day range 27,603.50 to 28,228.00
ES, S&P 500 futures
7,467.50
+0.26% on the day
Day range 7,417.00 to 7,485.75
Our bot's day
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No qualifying setups, so the book stayed flat and patient rather than forcing a trade.
The automated paper book took zero trades on NQ and ES today and finished flat at 0 dollars. None of our tracked setups reached a valid trigger, so there was no winning or losing strategy to name. On a split, headline-driven tape like this, standing aside is the honest result, and we would rather log a clean flat day than chase a market waiting on earnings.
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The story
Tuesday split the major indexes. The Nasdaq 100 fell 0.81 percent as semiconductor stocks weighed on the tape, while the S&P 500 held slightly positive, up 0.26 percent, helped by strength in areas outside of AI. The Dow-heavy, broader parts of the market looked steadier than the tech-leading names. All of this played out as traders sat on their hands ahead of a heavy run of Mag-7 earnings due later in the week.
The MAG7 and the megacaps
The big-tech group was the story more for what is coming than what happened today. Chipmakers were the clear drag on the Nasdaq, and one headline flagged Tesla as its most oversold in more than a year. With several Mag-7 names set to report late in the week, much of the market was in wait-and-see mode, which helps explain why the S&P could grind higher even as the chip-heavy Nasdaq slipped.
After the bell
Chip sector under pressure
Semiconductors were the day's clear weight on the Nasdaq 100, and commentary focused on assessing the damage in the group. That drag was enough to send the tech-heavy index down 0.81 percent even as the broader market held up.
Strength outside of AI
While AI and chip names lagged, other corners of the market were firmer, which let the S&P 500 close up 0.26 percent. The split shows a market that is rotating rather than selling off across the board.
Crude oil eases on Middle East halt
Oil prices dropped amid a reported pause in Middle East strikes. Lower crude took a bit of geopolitical worry off the table and added to the steadier feel in the non-tech parts of the market.
Mag-7 earnings on deck
A busy slate of big-tech results is due later in the week, with names like Seagate, SK Hynix, KLA, and Bloom Energy also reporting. That looming calendar kept many traders cautious and positioning-focused into the close.
Crypto
Bitcoin was quiet and steady, closing around 63,837 dollars, up 0.18 percent on the day. It traded in a tight range between roughly 62,844 and 63,991, with no big catalyst pushing it around. On a day when equities were split, crypto mostly went along for a calm ride.
Into the night
Overnight and into the session, the tone was cautious as chip weakness set the mood for the Nasdaq. Crude oil eased after a reported halt in Middle East strikes, which took some pressure off the energy side of the market. With no single macro shock to trade, the focus stayed squarely on the earnings calendar ahead.
What is coming next
Nasdaq 100 close
27,960.5
Down 0.81 percent, pressured by chips
S&P 500 close
7,467.5
Up 0.26 percent, strength outside AI
Bitcoin
$63,837
Up 0.18 percent, quiet range
Next catalyst
Mag-7 earnings
Heavy big-tech reports later this week
The big question into the rest of the week is whether the split we saw today resolves higher or lower once Mag-7 earnings land. If chip weakness spreads, the Nasdaq could stay under pressure, but continued strength outside of AI could keep the broad market supported. Watch how the S&P holds its ground and whether crude stays soft as the Middle East situation develops.
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Educational market recap, not financial advice. Futures and options trading carry substantial risk of loss. Prices reflect the 2026-07-28 session close; charts are live and interactive. Always verify before acting.