US close: Markets stall after sell-off as oil prices ease

24th Jul 2026 22:09

(Sharecast News) - US equity markets finished mixed on Friday, stabilising after a big sell-off the previous session, though tech stocks continued to weigh on the Nasdaq.

The Dow rose 0.5% and the S&P 500 inched 0.1% higher, with both partially rebounding after dropping more than 1% to a four-week low on Thursday. The Nasdaq, however, dropped another 0.6%, following a 2.2% slump previously, to settle at its lowest since 30 April.

Oil prices pulled back after surging to a two-month high amid an escalation of conflict in the Middle East. Brent fell 3.9% to $96.78 a barrel after surging 7% to top $100, but still remains nearly 10% higher than a week ago; WTI crude fell 3.1% to $89.31.

Prices rose for the fifth straight session on Thursday after Iranian-backed Houthi militants targeted two Saudi oil tankers in the Red Sea and Donald Trump threatened once again to bomb Iranian infrastructure.

However, concerns eased slightly on a report that Pakistan is ​exploring a path towards a resumption of stalled US-Iran talks following a push initiated by China. Reuters cited three Pakistani sources as saying that exploratory discussions took place during a visit by Iran's Interior Minister Eskandar Momeni to Islamabad this week - his second within the last 10 days.

Nevertheless, inflationary fears were reignited after Trump restarted his global trade war against more than 60 nations. The US president is attempting to use anti-forced labour laws to get around a Supreme Court ruling that found his previous package of levies illegal. The president invoked Section 301 of the Trade Act - a tool historically used to counter unfair practices - allowing him to maintain a near‑universal tariff floor without relying on contested presidential powers.

On the macro front, the flash reading of the S&P Global US manufacturing PMI slipped to 53.8 in July from 53.9 in June, coming in below expectations for a reading of 54.3, while US new home sales rose at an annualised pace of 628,000, up 1.6% on May but down 5.6% year-on-year, according to the Census Bureau.

In the corporate space, American Express shares dropped after the payments giant kept its full-year earnings guidance unchanged despite reporting another quarter of double-digit revenue growth and raising its revenue outlook.

Verizon reported lower second-quarter profits despite delivering its strongest consumer postpaid phone growth in five years, though earnings came in marginally ahead of market forecasts, pushing the stock higher.

Dow Jones - Risers

Verizon Communications Inc. (VZ) $46.38 5.84%

Salesforce.Com Inc. (CRM) $163.66 4.29%

International Business Machines Corporation (CDI) (IBM) $214.19 3.65%

Apple Inc. (AAPL) $333.02 3.63%

Amgen Inc. (AMGN) $376.04 3.42%

Travelers Company Inc. (TRV) $387.26 2.89%

Home Depot Inc. (HD) $332.98 2.55%

Walt Disney Co. (DIS) $94.85 2.18%

3M Co. (MMM) $172.62 1.79%

Nike Inc. (NKE) $41.70 1.73%

Dow Jones - Fallers

Intel Corp. (INTC) $92.32 -10.39%

American Express Co. (AXP) $326.17 -4.30%

Dow Chemical Co. (DOW) $29.84 -3.43%

Microsoft Corp. (MSFT) $381.70 -1.85%

Goldman Sachs Group Inc. (GS) $1,061.23 -1.26%

Unitedhealth Group Inc. (UNH) $420.74 -0.67%

Caterpillar Inc. (CAT) $888.73 -0.65%

Dowdupont Inc. (DWDP) $0.00 0.00%

Walmart Inc. (WMT) $0.00 0.00%

Walgreens Boots Alliance, Inc. (WBA) $0.00 0.00%

S&P 500 - Risers

International Paper Co. (IP) $42.16 11.21%

Schlumberger Ltd. (SLB) $52.42 11.01%

Digital Realty Trust (DLR) $199.08 11.01%

Packaging Corp. Amer (PKG) $254.39 8.76%

Dxc Technology Company (DXC) $10.05 8.41%

Cognizant Technology Solutions Corp. (CTSH) $45.45 7.37%

VeriSign Inc. (VRSN) $280.00 7.17%

American Airlines Group (AAL) $14.48 6.79%

Accenture Plc (ACN) $146.99 5.95%

Verizon Communications Inc. (VZ) $46.38 5.84%

S&P 500 - Fallers

Intel Corp. (INTC) $92.32 -10.39%

CH Robinson Worldwide Inc (CHRW) $186.51 -10.00%

Western Digital Corp. (WDC) $519.80 -9.12%

Coterra Energy Inc. (CTRA) $32.56 -8.62%

Seagate Technology Plc (STX) $851.69 -8.32%

Micron Technology Inc. (MU) $920.95 -6.92%

Akamai Technologies Inc. (AKAM) $115.37 -6.79%

Robert Half Inc. (RHI) $35.29 -6.76%

Ipg Photonics Corp. (IPGP) $91.70 -6.14%

Corning Inc. (GLW) $146.65 -6.03%

Nasdaq 100 - Risers

Cognizant Technology Solutions Corp. (CTSH) $45.45 7.37%

American Airlines Group (AAL) $14.48 6.79%

Intuit Inc. (INTU) $296.33 4.86%

Verisk Analytics Inc. (VRSK) $201.34 4.77%

Adobe Systems Inc. (ADBE) $225.11 4.13%

Apple Inc. (AAPL) $333.02 3.63%

Amgen Inc. (AMGN) $376.04 3.42%

Workday, Inc. (WDAY) $135.34 3.25%

Automatic Data Processing Inc. (ADP) $250.09 3.20%

Fastenal Co. (FAST) $47.02 3.11%

Nasdaq 100 - Fallers

Qvc Group Inc Series A (QVCGA) $0.34 -13.49%

Intel Corp. (INTC) $92.32 -10.39%

Western Digital Corp. (WDC) $519.80 -9.12%

Seagate Technology Plc (STX) $851.69 -8.32%

Micron Technology Inc. (MU) $920.95 -6.92%

Tesla Inc (TSLA) $313.03 -6.73%

Liberty Global plc Series A (LBTYA) $9.69 -5.37%

Lam Research Corp. (LRCX) $305.21 -4.99%

Comcast Corp. (CMCSA) $22.30 -4.88%

Microchip Technology Inc. (MCHP) $78.86 -4.83%