Weekly Market Notes

Weekly Market Notes · July 19–26, 2026 Weekly Market Intelligence Issue Date · July 26, 2026 | Compiled by Albert Tang | For Informational Use Only ℹ️ NOT FOR FINANCIAL ADVICE — FOR INFORMATIONAL AND ENTERTAINMENT USE ONLY Market Snapshot (Week Close) Index / Asset Price Weekly Change S&P 500 7,411.98 ▼ 0.6% WK DOW 51,947.25 ▼ 0.4% WK NASDAQ 24,975.82 ▼ 2.1% WK Brent Crude ~$97.24 ▲ ~10% WK · TOPPED $100 10-Yr Yield ~4.69% ▲ RISING Bitcoin ~$64,300 ▲ ~2% WK Weekly Overview · July 19–26, 2026 Markets fell for a second straight week as investors were forced to confront three converging pressures: a Middle East oil shock, rising geopolitical risk, and the staggering — and mounting — cost of the AI buildout. Brent crude briefly vaulted above $100 a barrel for the first time in years as the US-Iran war threatened the Strait of Hormuz, before pulling back on hopes for renewed peace talks. The week's defining corporate event came from the Magnificent Seven: Alphabet and Tesla reported soaring AI capital-spending plans that spooked investors, wiping roughly $787 billion off the group in a single session — its worst one-day drop in over a year. Energy was the standout winner while high-multiple tech led declines, dragging the Nasdaq down 2.1%. On trade, President Trump landed a headline 15% deal with Japan and unveiled fresh tariffs on dozens of partners ahead of the August 1 deadline. With the 10-year yield climbing to 4.69% and a Fed meeting looming on July 28–29, the calm of early summer has given way to a genuinely two-sided market. Estimated reading time: 7–8 minutes Headline 01 of 05 · Brent Crude Tops $100 as US-Iran War Threatens Hormuz Geopolitics · Energy Markets · US-Iran Conflict · Strait of Hormuz Oil was the week's dominant macro force. As fighting between the US and Iran intensified, Brent crude briefly climbed above $100 a barrel — a level unseen in years — with WTI pushing toward $91–92. At the peak mid-week, Brent was tracking a weekly gain of roughly…