Last week ended with U.S. stocks lower for a second straight week. The S&P 500 barely held onto a gain Friday, the Nasdaq fell about 2% over five trading days, and only the Dow bucked the trend as money rotated out of expensive technology names and into steadier, defensive stocks.
The Philadelphia Semiconductor Index — a gauge of the biggest U.S. chip companies — is now sitting roughly 20% below its late-June peak, a correction that has left investors genuinely split on whether the AI-spending boom still justifies today’s stock prices.
This week puts that question to its biggest test yet. Microsoft and Meta report earnings Wednesday, followed by Amazon and Apple on Thursday — four of the “Magnificent Seven” companies, together worth roughly 17% of the entire S&P 500, all reporting within 48 hours.
The Federal Reserve also meets Wednesday, and Friday brings a fresh GDP reading plus the Fed’s favorite inflation gauge.
Layered on top is a separate, still-unresolved story: an active conflict tied to Iran has kept oil prices elevated, setting up outsized earnings gains for ExxonMobil and Chevron on Friday.
Below, we break down what’s scheduled, why it matters, and the 10 U.S. stocks most likely to move this week.
Quick Answer: What to Watch This Week
Wednesday, July 29 is the week’s biggest single day: the Federal Reserve announces its rate decision (a hold is expected) and Microsoft and Meta both report earnings after the close.
Thursday brings Amazon and Apple’s earnings plus Mastercard, and Friday is dense with economic data — Q2 GDP, the Fed’s preferred Core PCE inflation gauge, and the Employment Cost Index — alongside earnings from oil giants ExxonMobil and Chevron.
The 10 stocks most likely to move this week are Microsoft, Meta, Amazon, Apple, Nvidia, ExxonMobil, Chevron, Boeing, Mastercard, and Starbucks — a mix of companies reporting earnings and names directly tied to this week’s two biggest stories: whether AI spending is paying off, and how far the Iran conflict’s oil-price effects spread.
Why This Week Matters
Most weeks bring a handful of things worth watching. This week concentrates more evidence about the AI-spending debate into five trading days than any other week this quarter.
Microsoft and Meta report Wednesday after the close, and Amazon and Apple follow Thursday — four Magnificent Seven companies, worth roughly 17% of the S&P 500’s total value, reporting within 48 hours of each other.
What is a stock market correction?
A correction usually means a decline of 10% or more from a recent high — smaller and more common than a full “bear market,” which is a 20%+ decline. The semiconductor sector's roughly 20% pullback from its late-June peak sits right at that boundary, which is one reason this week's Big Tech earnings carry so much weight: a clean set of reports could spark a relief rally, while more capex-without-payoff disappointment could push the sector further into bear-market territory.
The specific number investors are fixated on is capital spending. Microsoft’s own spending pace already has analysts modeling fiscal 2027 capital expenditure near $262 billion, and Meta has guided to $125–$145 billion for all of 2026.
That’s an extraordinary amount of money being poured into data centers, chips, and cloud infrastructure — and the market wants to see it showing up in revenue growth, not just in bigger spending numbers.
What is capital expenditure (capex), and why does it matter here?
Capex is the money a company spends building things — like data centers or chip factories — before it earns any revenue from them. Investors watch the gap between a company's capex and how fast its cloud or advertising revenue is growing, because a widening gap can signal that spending is outrunning the payoff, at least for now.
Why does one company's earnings move stocks that aren't even reporting this week?
Big cloud providers like Microsoft and Amazon buy chips and hardware from many of the same suppliers, including Nvidia. When a major cloud provider raises or lowers its spending plans, it reshapes the expected order book for every company that sells into that spending. That's why Nvidia — which has no earnings of its own this week — is still one of the stocks most likely to move on Microsoft's and Amazon's commentary.
Layered on top of the earnings news is a Federal Reserve decision. The Fed’s two-day meeting concludes Wednesday, and a hold at the current 3.50%–3.75% range is widely expected.
What matters more is Chair Kevin Warsh’s press conference: markets want to know whether his hawkish tone from mid-July testimony has softened, especially with oil prices still elevated and Friday’s inflation data still to come. The Bank of England and Bank of Japan also hold meetings this same week, adding a genuinely global central-bank dimension to the calendar.
The second major storyline is geopolitical. An escalating conflict involving Iran has kept crude oil prices volatile — briefly touching roughly $102 a barrel before settling closer to $97, still about 9% above levels seen before the conflict began in February.
That’s why ExxonMobil and Chevron, both reporting Friday, are guided to some of the largest year-over-year earnings gains of any company this quarter — a direct dollar-for-dollar readout of how much the conflict is worth to energy-company profits.
This Week’s U.S. Economic Calendar
Here are the economic events most likely to move markets between July 27 and July 31, 2026. All times are Eastern.
| Date | Time (ET) | Event | Importance | Why It Matters |
|---|---|---|---|---|
| Mon, Jul 27 | All day | Positioning ahead of FOMC and four Big Tech earnings reports | Medium | Sets the tone for the week; Dow expected to show relative resilience over Nasdaq |
| Tue, Jul 28 | 10:00 AM | Conference Board Consumer Confidence (July) | Medium | Feeds the “soft landing vs. slowdown” debate ahead of Thursday/Friday’s harder data |
| Wed, Jul 29 | 2:00 PM | FOMC Rate Decision + Chair Warsh press conference | Very High | Hold expected at 3.50%–3.75%; press-conference tone on a September hike is the key swing factor |
| Thu, Jul 30 | 8:30 AM | Initial Jobless Claims (weekly) | Medium | Labor-market check ahead of Friday’s Employment Cost Index |
| Thu, Jul 30 | — | Bank of England rate decision | High | Moves GBP/USD and the Dollar Index; indirect read-through to U.S. multinational earnings |
| Thu, Jul 30 | — | Bank of Japan policy meeting (concludes) | Medium-High | Yen positioning can add cross-asset volatility into U.S. trading hours |
| Fri, Jul 31 | 8:30 AM | Q2 GDP (Advance Estimate) + Employment Cost Index | High | Confirms whether growth is merely slowing (GDPNow tracking ~1.7%) or something more concerning |
| Fri, Jul 31 | 8:30 AM | Core PCE Price Index + Personal Income & Spending (June) | Very High | The Fed’s preferred inflation gauge; oil’s smaller weight in PCE may soften the energy-price pass-through |
| Fri, Jul 31 | 9:45 AM | Chicago PMI (July) | Medium | Regional manufacturing gauge feeding into the following Monday’s national ISM report |
| Fri, Jul 31 | 10:00 AM | University of Michigan Consumer Sentiment (final) | Medium | Confirms whether consumer inflation expectations are stabilizing amid elevated gasoline prices |
Also relevant: Iran conflict developments and the Strait of Hormuz situation remain a live wildcard for oil prices throughout the week, independent of the scheduled calendar above.
This Week’s Earnings Calendar
A packed stretch of earnings spans nearly every day this week. Here’s who’s reporting and what to watch.
| Company (Ticker) | Date | What to Watch |
|---|---|---|
| Boeing (BA) | Tue, Jul 28 (AM) | EPS estimate -$0.34, revenue ~$24.05B (+5.73% YoY); 737 delivery ramp vs. 787 engine bottlenecks |
| Coca-Cola (KO) | Tue, Jul 28 (AM) | EPS estimate ~$0.93 (+6.9%), revenue ~$13.14B (+4.8%); volume vs. pricing decomposition |
| Ford Motor (F) | Tue, Jul 28 (PM) | EPS estimate ~$0.33 (-10.8%), revenue ~$45.72B; Ford Pro strength vs. Model e EV losses |
| Visa (V) | Tue, Jul 28 | Analyst EPS estimate ~$3.19; payment-volume trends, a real-time consumer-spend gauge |
| Starbucks (SBUX) | Wed, Jul 29 (AM) | EPS estimate ~$0.66 (+32%), revenue ~$9.44B; turnaround test after missing in 3 of the last 4 quarters |
| Microsoft (MSFT) | Wed, Jul 29 (PM) | EPS estimate ~$4.24 (~15%), revenue ~$87.7B; Azure growth vs. a 36% “bogey,” FY2027 capex modeled near $262B |
| Meta Platforms (META) | Wed, Jul 29 (PM) | EPS estimate ~$7.23, revenue ~$60.26B (+27%); FY2026 capex guide of $125–$145B |
| Qualcomm (QCOM) | Wed, Jul 29 | EPS estimate ~$2.23 (-19.5%), revenue ~$9.68B (-6.6%) |
| Amazon (AMZN) | Thu, Jul 30 (PM) | EPS estimate ~$1.82 (up from $1.68), revenue ~$196.7B guide; AWS growth and capex guidance |
| Apple (AAPL) | Thu, Jul 30 (PM) | EPS estimate ~$1.88–$1.89 (+19.8%), revenue ~$108.8–$108.9B; iPhone and Services growth |
| Mastercard (MA) | Thu, Jul 30 | EPS estimate ~$4.75 (+14.5% from $4.15) |
| ExxonMobil (XOM) | Fri, Jul 31 (AM) | EPS estimate ~$3.88 (+136.6% from $1.64); oil-price windfall to upstream earnings |
| Chevron (CVX) | Fri, Jul 31 (AM) | EPS estimate ~$5.79 (+227.1% from $1.77); the week’s single largest earnings-growth story |
Figures above are analyst consensus estimates as of the report date and are subject to revision before each company reports.
It’s worth noticing how the week is structured: Tuesday belongs to industrials and staples (Boeing, Coca-Cola, Ford), Wednesday shifts to the Fed decision plus consumer and Big Tech names (Starbucks, Microsoft, Meta, Qualcomm), Thursday brings two more mega-cap reports (Amazon, Apple) alongside Mastercard, and Friday closes with the heaviest macro-data morning of the month plus both major U.S. oil companies.
That clustering means Wednesday and Thursday’s market reaction will say more about the AI trade broadly than about any single company.
The Top 10 US Stocks to Watch This Week
We ranked these 10 stocks by how likely they are to see a significant price move this week — based on scheduled earnings, capex guidance, and how directly each is tied into this week’s two biggest storylines.
This isn’t a list of the biggest companies; it’s a list of the companies with the clearest catalysts.
| # | Company (Ticker) | Trend | Confidence | Volatility | Primary Catalyst |
|---|---|---|---|---|---|
| 1 | Microsoft (MSFT) | Bearish/Bullish | 55% | Extreme | FY2026 Q4 earnings Wed after close |
| 2 | Meta Platforms (META) | Neutral/Bullish | 58% | Extreme | Q2 earnings Wed after close |
| 3 | Amazon (AMZN) | Neutral | 56% | Extreme | Q2 earnings Thu after close |
| 4 | Apple (AAPL) | Bullish | 62% | High | FY2026 Q3 earnings Thu after close |
| 5 | Nvidia (NVDA) | Neutral/Bearish | 50% | High | No earnings; sector bellwether for AI capex |
| 6 | ExxonMobil (XOM) | Bullish | 68% | Medium-High | Q2 earnings Fri before open |
| 7 | Chevron (CVX) | Bullish | 66% | Medium-High | Q2 earnings Fri before open |
| 8 | Boeing (BA) | Bearish/Neutral | 45% | High | Q2 earnings Tue before open |
| 9 | Mastercard (MA) | Bullish | 64% | Medium | Q2 earnings Thu |
| 10 | Starbucks (SBUX) | Neutral | 48% | Medium-High | FY2026 Q3 earnings Wed before open |
Track This Week’s Top 10 US Stocks in Real Time
Microsoft and Meta report Wednesday, Amazon and Apple follow Thursday, and the chip sector is still testing its footing after a correction — follow every move with free charts, watchlists, and price alerts.
Open Free Charts on TradingView →1. Microsoft (MSFT)
Microsoft reports fiscal Q4 2026 earnings Wednesday after the close, capping off its fiscal year amid intense scrutiny of AI spending. The stock is down nearly 20% over the past year as investors have penalized ballooning capital expenditure, and Wednesday’s report is the clearest test yet of whether that concern is overdone.
- Bull case: Azure cloud growth clears the 36% investor “bogey” and management offers credible commentary tying Copilot’s 20-million-plus paid seats to the spending, easing the “spending without payback” narrative.
- Bear case: Azure growth prints below 36%, or fiscal 2027 capex guidance rises again without an accompanying acceleration in monetization, extending the stock’s year-long slide.
- Key risk: AI-capex return-timeline uncertainty and competitive cloud pressure from Amazon’s AWS and Google Cloud.
2. Meta Platforms (META)
Meta reports Q2 2026 earnings Wednesday after the close, the same session as Microsoft. Shares fell in the days before the report amid investor jitters over a $125–$145 billion full-year capex plan, even though the stock enters the print near record highs on strong ad demand.
- Bull case: Ad-revenue strength persists — impressions were up 19% year-over-year last quarter — and management holds operating margin above the prior quarter’s 41.4% even while reaffirming the elevated capex range.
- Bear case: Operating margin slips below 41.4%, or capex guidance is raised further without a clear monetization offset, validating the pre-earnings investor skepticism.
- Key risk: Reality Labs losses and the pace of AI-infrastructure spending relative to advertising-revenue growth.
3. Amazon (AMZN)
Amazon reports Q2 2026 earnings Thursday after the close. Analysts are focused less on the headline EPS estimate of roughly $1.82 and more on AWS cloud growth and the company’s own capital-spending guidance, following directly on the heels of Microsoft’s Wednesday report.
- Bull case: AWS growth accelerates further and management frames capex as directly tied to backlog and demand, reinforcing whatever tone Microsoft’s Wednesday Azure numbers set.
- Bear case: AWS growth decelerates, or capex guidance rises without a clear demand justification, compounding the week’s AI-capex skepticism.
- Key risk: Retail-margin sensitivity to consumer spending and AWS competitive intensity from Microsoft and Google.
4. Apple (AAPL)
Apple reports fiscal Q3 2026 earnings Thursday after the close, and some sell-side desks (including BofA and Morgan Stanley) are modeling a print strong enough to push shares to a fresh all-time high. iPhone revenue is guided near $55–$57 billion and Services near $31–$32 billion.
- Bull case: iPhone demand and Services growth both beat guidance, and Apple Intelligence commentary reassures investors that Apple’s more capital-light approach to AI is paying off relative to capex-heavy peers.
- Bear case: Softer China demand or component-cost pressure offsets iPhone strength, and Services growth decelerates from its recent mid-to-high-teens pace.
- Key risk: China market competitiveness and the pace of Apple Intelligence monetization versus peers’ much larger AI capex.
5. Nvidia (NVDA)
Nvidia doesn’t report earnings this week, but as the largest single beneficiary — and largest single risk — tied to hyperscaler AI spending, it remains the stock most directly exposed to whatever Microsoft, Meta, and Amazon collectively signal about capex this week.
- Bull case: Microsoft, Meta, and Amazon’s capex guidance reaffirms accelerating AI-infrastructure demand, sparking a relief rally across the chip sector.
- Bear case: Any of the three hyperscalers signals spending discipline or moderation, extending the semiconductor sector’s pullback and hitting Nvidia hardest given its outsized index weight.
- Key risk: Customer concentration among a handful of hyperscalers and competitive inroads from rivals like AMD, which has outpaced Nvidia’s stock performance by a wide margin this year.
6. ExxonMobil (XOM)
ExxonMobil reports Q2 2026 earnings Friday before market open, with analysts modeling EPS up 136.6% year-over-year as elevated, conflict-driven crude prices flow directly into upstream profits. The company has beaten Wall Street’s estimate in each of its last four quarters.
- Bull case: Upstream volumes and realized prices both benefit from the elevated crude environment, and management signals disciplined capital return from the windfall.
- Bear case: A sudden de-escalation in the Iran conflict causes crude prices — and this quarter’s earnings power — to reverse sharply just as the results are being reported.
- Key risk: Two-way oil-price volatility and geopolitical exposure tied to Middle East shipping routes.
7. Chevron (CVX)
Chevron reports Q2 2026 earnings Friday before market open, alongside ExxonMobil. Analysts model EPS up 227.1% year-over-year — the single largest earnings-growth figure of any stock in this week’s Top 10 — again driven by elevated oil prices.
- Bull case: Realized crude prices and production volumes confirm the scale of the expected earnings beat, reinforcing energy as the market’s most reliable sector this quarter.
- Bear case: Margins or volumes disappoint relative to the high bar implied by the guided EPS jump, or oil prices retreat sharply before the report.
- Key risk: Oil-price reversal risk and execution risk on ongoing portfolio and integration moves.
8. Boeing (BA)
Boeing reports Q2 2026 earnings Tuesday before market open. Analysts expect a per-share loss of $0.34 even as commercial jet deliveries have grown 14% year-over-year, with 737 production stabilizing at 42 aircraft per month against a 47-per-month target.
- Bull case: 737 delivery-rate progress toward 47 per month continues and management shows further reduction in factory-rework hours, giving investors confidence the operational turnaround is on track.
- Bear case: 787 engine-supply bottlenecks worsen, or the company’s $47.2 billion debt load draws fresh investor scrutiny, overshadowing delivery-rate progress.
- Key risk: Supply-chain and engine bottlenecks, plus elevated leverage on the balance sheet.
9. Mastercard (MA)
Mastercard reports Q2 2026 earnings Thursday, the same day as Amazon and Apple. Analysts model EPS up 14.5% year-over-year, with peer Visa’s own recent quarter beating consensus by more than 7% on payment-volume strength — a constructive setup heading into Mastercard’s print.
- Bull case: Cross-border and switched-volume growth remain resilient, reinforcing the view that consumer spending is holding up even as broader labor-market data softens.
- Bear case: Any sign of spending deceleration among cardholders would be read as a broader consumer-health warning.
- Key risk: Consumer-credit normalization and regulatory scrutiny of interchange fees.
10. Starbucks (SBUX)
Starbucks reports fiscal Q3 2026 earnings Wednesday before market open. Analysts model EPS up 32% year-over-year to $0.66, but the company has missed consensus in three of its last four quarters, making this print a genuine test of its turnaround trajectory.
- Bull case: U.S. same-store traffic stabilizes and turnaround initiatives show early sales improvement, breaking the recent pattern of consensus misses.
- Bear case: Traffic softness persists and China recovery remains sluggish, extending the multi-quarter miss streak despite guided year-over-year EPS growth.
- Key risk: U.S. traffic and transaction softness, and the pace of China same-store sales recovery.
Sector Outlook at a Glance
| Sector | Outlook | Why |
|---|---|---|
| Technology / AI | Bearish-to-neutral near-term, bullish structurally | Four hyperscaler capex disclosures this week are the most consequential data set of the quarter |
| Semiconductors | Bearish-to-neutral | SOX sits ~20% below its late-June peak; hyperscaler commentary is the key swing factor |
| Energy | Bullish | ExxonMobil and Chevron guided to the sector’s largest year-over-year earnings growth by far |
| Industrials | Mixed | Boeing’s improving delivery cadence vs. persistent 787 and debt-load overhangs |
| Financials | Bullish-to-neutral | Visa and Mastercard’s payment-volume trends offer a real-time consumer-spending read |
| Consumer Discretionary | Mixed | Amazon, Apple, Starbucks, and Ford all report; housing-sensitive names watch Friday’s GDP/PCE data |
| Consumer Staples | Neutral-to-bullish | Coca-Cola’s volume-vs.-pricing decomposition is the key metric |
| Communication Services | Bearish-to-neutral near-term | Meta’s capex-vs.-ad-strength test dominates the sector’s week |
| Real Estate / REITs | Neutral-to-cautious | Rate-sensitive; Friday’s GDP, PCE, and Employment Cost Index could move yields meaningfully |
Biggest Risks This Week
| Risk | Rating | What Could Happen |
|---|---|---|
| AI capex sustainability | Very High | Four Big Tech earnings reports directly test whether hyperscaler spending is generating returns |
| Semiconductor sector technical damage | High | Further deterioration could spill into broader index-level sentiment |
| Federal Reserve policy | High | A hold is expected, but Chair Warsh’s press-conference tone on a September hike matters |
| Iran conflict / oil prices | Very High | A live tail risk that could reprice oil, yields, and sentiment in a single session |
| Earnings guidance concentration | Very High | Four Big Tech names plus energy majors and industrials all report in one week |
| GDP / growth deceleration | Medium-High | GDPNow tracker points to roughly 1.7% Q2 growth, down from Q1’s ~2.1% pace |
| Inflation (Core PCE) | High | The Fed’s preferred inflation gauge, with oil-driven headline risk a genuine wildcard |
| Valuation / index concentration | High | AI-linked mega-cap names remain a disproportionate share of index market cap |
Bullish and Bearish Trade Ideas This Week
These aren’t recommendations to buy or sell — they’re a summary of where analyst sentiment and this week’s catalysts point, based on our research. Always do your own research and consider your own risk tolerance before making any investment decision.
Top 5 Bullish Setups
| Company (Ticker) | Confidence | Primary Catalyst | Key Risk |
|---|---|---|---|
| ExxonMobil (XOM) | 68% | EPS guided up 136.6% YoY on the oil-price spike | A sudden de-escalation could reverse oil prices quickly |
| Chevron (CVX) | 66% | EPS guided up 227.1% YoY, the week’s largest earnings-growth story | Same oil-price reversal risk as ExxonMobil |
| Mastercard (MA) | 64% | EPS guided up 14.5% YoY on resilient consumer spending | A broader consumer-spending deceleration signal would be a warning beyond just Mastercard |
| Apple (AAPL) | 62% | Potential all-time-high-triggering earnings beat | China demand or component-cost pressure could offset iPhone/Services strength |
| Meta Platforms (META) | 58% | Ad-revenue strength could offset pre-earnings capex jitters | Another capex raise without margin discipline could extend the pre-earnings selloff |
Top 5 Bearish Setups
| Company (Ticker) | Confidence | Primary Catalyst | Key Risk |
|---|---|---|---|
| Nvidia (NVDA) | 50% | Epicenter of the AI-capex debate, with no earnings this week to offer a fundamental offset | Reassuring hyperscaler commentary could quickly reverse sentiment |
| Microsoft (MSFT) | 45% | Down nearly 20% over 52 weeks; Azure must clear a 36% growth “bogey” | A clean Azure beat with credible monetization commentary could spark a sharp relief rally instead |
| Boeing (BA) | 45% | Continued net loss expected despite improving delivery cadence | Faster-than-expected delivery-rate progress could offset the headline loss |
| Qualcomm (QCOM) | 48% | EPS guided down 19.5% YoY amid broader semiconductor pressure | A fourth straight quarter of beats (its recent track record) could limit downside |
| Starbucks (SBUX) | 48% | Has missed consensus in three of the last four quarters | A cleaner-than-expected turnaround update could break the miss streak and spark a rally |
Build a Watchlist for This Week’s Trade Ideas
From bullish ExxonMobil and Chevron to bearish Nvidia and Microsoft, track every stock on this week’s list in one place.
Set Up Your Watchlist on TradingView →Key Takeaways
- Wednesday, July 29 and Thursday, July 30 are the two biggest days of the week: Microsoft and Meta report Wednesday after close, Amazon and Apple report Thursday after close.
- Together, Microsoft, Meta, Amazon, and Apple represent roughly 17% of S&P 500 market capitalization, making their combined capex guidance one of the most consequential data sets of the quarter.
- The Philadelphia Semiconductor Index sits about 20% below its late-June peak, setting up this week’s earnings as a direct test of whether that pullback was overdone.
- The Federal Reserve’s rate decision lands Wednesday; a hold is widely expected, but Chair Kevin Warsh’s press-conference tone is the real swing factor.
- The Bank of England and Bank of Japan also meet this same week, adding a genuinely global central-bank dimension to the calendar.
- ExxonMobil and Chevron both report Friday, with EPS guided up 136.6% and 227.1% year-over-year respectively, driven by elevated Iran-conflict-linked oil prices.
- Brent crude touched roughly $102 a barrel intraweek before settling near $97, about 9% above pre-conflict levels from February 2026.
- Friday also brings the advance Q2 GDP estimate (tracking near 1.7% growth) and the Core PCE inflation report, the Fed’s preferred gauge.
- Nvidia has no earnings this week but remains the biggest single stock exposed to whatever tone this week’s hyperscaler earnings set for AI spending.
- Boeing, Coca-Cola, Ford, Visa, Starbucks, Qualcomm, and Mastercard round out a genuinely packed earnings week spanning industrials, staples, autos, payments, and restaurants.
Watching Oil Prices This Week?
Crude briefly topped $100 a barrel as the Iran conflict keeps energy markets volatile — with ExxonMobil and Chevron both reporting Friday. Trade oil, gold, and other commodities with tools built for active traders.
Explore Pepperstone →Frequently Asked Questions
What stocks should I watch this week in the US market?
The 10 stocks with the clearest catalysts this week are Microsoft, Meta, Amazon, Apple, Nvidia, ExxonMobil, Chevron, Boeing, Mastercard, and Starbucks — a mix of companies reporting earnings and names tied directly to this week’s two biggest stories, the AI-capex debate and the Iran conflict’s effect on oil prices.
When does Microsoft report earnings?
Microsoft is scheduled to report fiscal Q4 2026 earnings after market close on Wednesday, July 29, 2026, the same day as Meta and the Federal Reserve’s rate decision.
When does Meta report earnings?
Meta Platforms is scheduled to report Q2 2026 results after market close on Wednesday, July 29, 2026.
When do Amazon and Apple report earnings?
Amazon and Apple are both scheduled to report after market close on Thursday, July 30, 2026, alongside Mastercard.
What is the Federal Reserve expected to do this week?
The Federal Reserve is widely expected to hold its benchmark rate at 3.50%–3.75% following its two-day meeting that concludes Wednesday, July 29. Chair Kevin Warsh’s press-conference comments on future rate moves are considered more market-moving than the decision itself.
Why are ExxonMobil and Chevron’s earnings expected to jump so much this quarter?
Both companies are expected to post triple-digit percentage year-over-year earnings growth because elevated crude oil prices, driven by an ongoing conflict tied to Iran, flow directly into their profits from producing and selling oil.
Why are oil prices rising in 2026?
An escalating conflict involving Iran, including disruptions near the Strait of Hormuz shipping route, has kept oil prices roughly 9% above where they stood before the conflict began in February 2026.
What is AI capital expenditure (capex) and why does it matter for stocks?
Capex is the money companies spend building assets like data centers and chip factories before they earn revenue from them. Investors are increasingly focused on whether hyperscaler AI capex is generating enough revenue and cash flow to justify its scale.
Why is Nvidia stock affected by other companies’ earnings?
Nvidia sells much of the chips and hardware that power the very data centers Microsoft, Amazon, and Meta are building. When those companies raise or lower their spending plans, it directly changes the outlook for Nvidia’s future orders, even though Nvidia has no earnings report of its own this week.
What is the Philadelphia Semiconductor Index (SOX)?
The SOX is an index that tracks major U.S.-listed semiconductor companies. It currently sits roughly 20% below its late-June 2026 peak, a correction that reflects growing investor caution about AI-related chip spending.
Related Reading
- Top 10 US Stocks to Watch This Week (July 20–24, 2026)
- Top 10 UK Stocks to Watch This Week (July 20–24, 2026)
- Top 10 Asian Stocks to Watch This Week (July 20–24, 2026)
Conclusion
The week of July 27–31, 2026 is arguably the single most consequential week of the third quarter for U.S. stocks. Four Magnificent Seven companies — Microsoft and Meta Wednesday, Amazon and Apple Thursday — will report earnings representing roughly 17% of S&P 500 market value, directly testing whether the AI-infrastructure spending that has powered markets for two years still generates the returns investors have priced in.
A Federal Reserve decision the same week, plus Friday’s GDP and inflation data, add a genuine macro dimension on top of the earnings gauntlet.
At the same time, an unresolved conflict tied to Iran continues to drive real price action through elevated oil prices — a story ExxonMobil’s and Chevron’s Friday earnings speak to directly, with both companies guided to some of the largest profit gains of any stock this quarter.
As always, treat this as a starting point for your own research rather than a set of instructions. Markets can and do surprise in both directions, and every stock discussed above carries real risk alongside its opportunity.
Disclosure: The content on this page was produced with AI writing assistance under the editorial direction of a licensed Electrical Engineering practitioner and certified investor in different markets with over a decade of experience. All articles are reviewed and approved by the author before publication.
