Daily US Equity Report 2026-07-08 (Wed)
7/7 (Tue) Samsung's Q2 earnings triggered a second global chip selloff: INTC -9.66% / WDC -7.86% / MRVL -7.45% / SNDK -7.26%, SMH -3.78%; energy & pharma took the baton (XOM +3.85%, GILD +5.21%); NET +8.60% topped gainers; Nasdaq -1.16%, S&P -0.45%, Dow -0.25%; breadth 102:97 balanced — rota…
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US 07/08 [7/7 (Tue) Samsung earnings triggered global chip profit-taking; semis sold off a second time: INTC -9.66% / WDC -7.86% / MRVL -7.45% / SNDK -7.26% / KLAC -7.22%, SMH -3.78%, 7/6's one-day rebound was mirror-reversed; energy & pharma took the baton— oil bounced two days running USO +4.38%, XOM +3.85% / CVX +3.52%, GILD +5.21%(Trodelvy first-line approval + HSBC upgrade); NET +8.60%topped the gainers (Scotiabank upgrade, PT $300); Nasdaq -1.16% closed 25,818.69, S&P -0.45% closed 7,503.85, Dow -0.25% closed 52,925.15 easing from a record; NVDA +0.71% bucked the trend green; breadth 102:97 balanced]
Data as of: 2026-07-07 (Tue) actual US close · Generated: Taipei 7/8 07:00
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🎯 Today's (7/8) Watchpoints
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One-line summary
7/7 (Tue) Samsung's Q2 earnings triggered global chip profit-taking; semis sold off a second time— Samsung guided operating profit of ~$58B (nearly 19x YoY), beating estimates, yet shares fell -7% on 'good news priced in'; combined with Morgan Stanley's call to underweight chip stocks and rumors of slower SK Hynix HBM expansion, the fear spread back to US stocks: INTC -9.66% / WDC -7.86% / MRVL -7.45% / SNDK -7.26% / KLAC -7.22% / LRCX -6.87% / AMD -6.51%, SMH -3.78%, 7/6's one-day rebound was mirror-reversed. The three major indices closed lower but fell far less than semis (Nasdaq -1.16% / S&P -0.45% / Dow -0.25%), energy & pharma took the baton(XOM +3.85% / GILD +5.21%), NVDA +0.71% bucked the trend green, breadth 102:97 balanced = rotation again, not an exodus.
Key themes
▼ Semiconductors / memory / equipment — broad profit-takingINTC -9.66%, ASX -8.47%, WDC -7.86%, MRVL -7.45%, SNDK -7.26%, KLAC -7.22%, LRCX -6.87%, ARM -6.77%, AMD -6.51%, GEV -6.51%, AMAT -6.46%, ASML -4.26%, MU -4.71%
▲ Energy / pharma / defensives took the batonNET +8.60%, GILD +5.21%, SHEL +4.93%, COP +4.69%, XOM +3.85%, WM +3.59%, CVX +3.52%, BP +3.26%, WMB +3.10%, JNJ +3.05%, LLY +2.96%
↳ "one-day rebound trip": 7/6 saw a broad AI-hardware rebound; on 7/7 it was fully reversed by Samsung's "good news priced in" + underweight report — memory / equipment already down -14% to -22% over 5D and -21% to -29% over 10D; capital ran the "sell semis → buy energy & pharma defensives" rotation for a third time, indices only slipped = the money is still in the market.
Policy & liquidity
Tonight (US Eastern 7/8 14:00) FOMC meeting minutesthe first minutes after June nonfarm payrolls of only +57k; 10Y rose to about 4.53% (+4bp); the market is watching members' trade-off between 'cooling jobs vs. sticky inflation' and the H2 rate-cut path.
Oil bounced two days running; energy ledUSO +4.38% closed 108.92: a supply narrative of restricted Strait of Hormuz shipping + OPEC+ quota adjustments lifted oil; XOM / CVX / COP / SHEL / BP all rose 3-5%; the oil rebound also re-inflated inflation expectations, creating a tug-of-war with the FOMC minutes. This week's rhythm: tonight FOMC minutes → 7/14-15 bank earnings kick off + June CPI → 7/16 NFLX + TSMC / ASML earnings(the most critical fundamental checkpoint after the second selloff in memory / equipment).
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🏛 Market Backdrop7/7 close
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🌡 Macro Risk Signals7/7 close · Futu / CNN actuals
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📅 Earnings / Key Events — Next 2 Weeks7/7 - 7/21
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💡 Key watchpoints
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🔎 Focus stocks: INTC / MU / SNDK / NVDAsecond semis selloff vs. leaders green against the trend
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| 🚀 Momentum picks — 5 namesStock-selection logic: a momentum × relative-valuation two-factor model — strong across 5D/10D/20D simultaneously, with Fwd P/E within the sector's reasonable range (a valuation gate screens out the overpriced), ranked by 'momentum strength × valuation cheapness'; ignores revenue/earnings/themes |
1SPGI S&P Globalfinancial data / ratings 5D +14.73%10D +15.06%20D +10.44%Fwd P/E 21.5 reasonablemarket cap $131.3B the most balanced with all three periods aligned, rising to the top: 5D/10D/20D (14.7/15.1/10.4) a strong staircase, 7/7 only -0.84% resilient; Fwd 21.5 reasonable for the financial-data band, both momentum purity and valuation strong — up from fourth to first. |
2SCHW Charles Schwabbrokerage / fintech 5D +12.57%10D +10.76%20D +14.73%Fwd P/E 13.9 ★ cheapmarket cap $177.3B deep value + closed green against the market: 5D/10D/20D (12.6/10.8/14.7) all three aligned, 7/7 +1.30% rose against the trend, up to third on the 5D board; Fwd only 13.9, cheap end of the financial band — up to second. |
3HOOD Robinhoodbrokerage / fintech 5D +10.87%10D +6.80%20D +36.90%Fwd P/E 38.1 reasonablemarket cap $101.7B five-in-a-row atop the 20D board, first pullback: 5D/10D/20D (10.9/6.8/36.9) still all positive, but 7/7 -3.96% was the first clear pullback day after five strong sessions; Fwd 38.1 within the brokerage-growth band, slips from first to third. |
4MCO Moody'sfinancial data / ratings 5D +10.55%10D +11.88%20D +10.89%Fwd P/E 26.9 reasonablemarket cap $87.4B the second of the ratings duo, the most even across three periods: 5D/10D/20D (10.6/11.9/10.9) nearly equal-speed and aligned, 7/7 +0.34% still green; Fwd 26.9 within the reasonable band; shares the earnings-season + debt-issuance recovery theme with SPGI — up to fourth. |
5IBM IBMcloud / AI services 5D +10.12%10D +21.37%20D +7.47%Fwd P/E 22.7 ★ cheapmarket cap $287.7B 10D +21.4% the strongest medium-term momentum + green against the trend +2.21% on a semis-selloff day: three periods aligned, dual defensive + AI-services attributes; Fwd 22.7 below the lower software band = cheap, newly listed at fifth. |
* This 'momentum selection' uses amomentum + relative-valuation two-factorranking: the universe is the top 200 by market cap, requiring5D/10D/20D all three periods positive, with each sector's Fwd P/E reasonable range as thevaluation gate.7/7 changing of the guard: SPGI to first, SCHW to second(both resilient against the market + reasonably cheap valuations), HOOD's first pullback slips to third,MCO / IBM newly listed;PANW, second the prior day (5D down to +1.52), short-term momentum fizzled and dropped out, VRTX cooled with the pharma rotation and slipped to backup;NET (Fwd 170.3) screened out by the valuation gate, AAPL (20D only +1.08) lacked three-period strength; META / ADP / GILD / HCA / MELI / RTX are also aligned across three periods, listed as backups. Each % is the Yahoo 7/7 actual close (cross-verified with Futu); Fwd P/E is the Yahoo same-day value. High-momentum names also pull back fast — be sure to set stop-losses and position limits. This information is for reference only and does not constitute investment advice.
📋 Full listTop 200 by market cap · 20D gain > 20% · sorted by 20D
Semiconductors · memory/CPUSemiconductors · logic/ASIC/equipmentSoftware/cybersecurityNon-tech |Green= up on 7/7Red= down on 7/7 |Rank / on board:▲▼= vs the prior trading day's (7/6 close) rank,★ new entry= new to the board this period,+N= consecutive trading days on board (incl. 7/7)
| Ticker / Name | Price | Gain (20D) | 1D (7/7) | 5D | 20D | YTD | Fwd P/E | Net income ($100M) | Market cap ($100M) | Rank / on board | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HOOD Robinhoodbrokerage / fintech | 112.90 | -3.96% | +10.87% | +36.90% | -0.18% | 38.1 | 19 as of 3/31 | 1,017 | —+4 | |||
| PANW Palo Altointernet / cybersecurity | 337.04 | -5.73% | +1.52% | +23.89% | +82.98% | 81.8 | 8 as of 4/30 | 2,747 | —+3 | |||
| AMAT Applied Materialssemiconductor equipment | 554.50 | -6.46% | -20.17% | +22.40% | +115.77% | 33.8 | 85 as of 4/26 | 4,403 | ★ new entry+1 |
*the 20D > 20% main list grows back from 2 names to 3:HOOD (+36.90) held the top spot for a fifth day(though 7/7 -3.96% was its first pullback), PANW (+23.89) remained second;AMAT (+22.40) re-entered the board— note its re-entryis purely due to the rolling 20D base(early-June low base rolled into the window); on 7/7 it actually fell -6.46%, with 5D deep -20.17%, a momentum structure completely different from HOOD / PANW.Net income= trailing four quarters (TTM) combined, in US$100M; 'as of M/D' is the latest fiscal-quarter end, updated after the next report.
📋 Full list (5D momentum)Top 200 by market cap · 5D gain > 10% · sorted by 5D
Semiconductors · memory/CPUSemiconductors · logic/ASIC/equipmentSoftware/cybersecurityNon-tech |Green= up on 7/7Red= down on 7/7 |Rank / on board:▲▼= vs the prior trading day's (7/6 close) rank,★ new entry= new to the board this period,+N= consecutive trading days on board (incl. 7/7)
| Ticker / Name | Price | Gain (5D) | 5D | 20D | 1D (7/7) | YTD | Fwd P/E | Net income ($100M) | Market cap ($100M) | Rank / on board | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PLTR PalantirAI software / analytics | 134.37 | +16.14% | -0.86% | +1.38% | -24.41% | 64.2 | 23 as of 3/31 | 3,221 | ▲2+4 | |||
| SPGI S&P Globalfinancial data / ratings | 443.46 | +14.73% | +10.44% | -0.84% | -10.30% | 21.5 | 48 as of 3/31 | 1,313 | ▲2+3 | |||
| SCHW Charles Schwabbrokerage / fintech | 101.93 | +12.57% | +14.73% | +1.30% | +2.02% | 13.9 | 90 as of 3/31 | 1,773 | ▲4+2 | |||
| HOOD Robinhoodbrokerage / fintech | 112.90 | +10.87% | +36.90% | -3.96% | -0.18% | 38.1 | 19 as of 3/31 | 1,017 | ▼3+4 | |||
| NOW ServiceNowenterprise software | 110.73 | +10.76% | -1.53% | +2.59% | -27.72% | 22.0 | 18 as of 3/31 | 1,142 | ★ new entry+1 | |||
| MCO Moody'sfinancial data / ratings | 500.49 | +10.55% | +10.89% | +0.34% | -2.03% | 26.9 | 25 as of 3/31 | 874 | ▲2+2 | |||
| NET Cloudflarecloud / CDN | 268.83 | +10.28% | +7.48% | +8.60% | +36.36% | 170.3 | -1 as of 3/31 | 954 | ★ new entry+1 | |||
| AAPL Appleconsumer electronics / iPhone | 310.66 | +10.26% | +1.08% | -0.64% | +14.27% | 32.3 | 1,226 as of 3/28 | 45,628 | ▲4+3 | |||
| CME CME Groupexchange / derivatives | 240.75 | +10.14% | -6.47% | +2.55% | -11.84% | 18.6 | 42 as of 3/31 | 870 | ★ new entry+1 | |||
| IBM IBMcloud / AI services | 306.13 | +10.12% | +7.47% | +2.21% | +3.35% | 22.7 | 107 as of 3/31 | 2,877 | —+3 |
* the 5D momentum board narrows from 12 names to10 names(5D > 10%):PLTR (+16.14) to the top, SPGI to second, SCHW to third,HOOD pulled back to fourth;NOW / NET / CME newly entered(NOW +2.59% green three days running, back on the board; NET's upgrade rally +8.60% first entry; CME's hedging-volume theme +2.55%);PANW (5D down to +1.52) / APP / CRWD / TSLA / GEV — 5 names dropped off(TSLA -4.02% / GEV -6.51% tumbled on the day, 5D turned negative). The board fully 'de-semiconductor-ized' — none of the 10 is a semiconductor.Net income= trailing four quarters (TTM) combined, in US$100M ('as of M/D' is the latest fiscal-quarter end); updated after the next report;* NET's net income TTM is about -$100M (near breakeven).
🤖 AI sub-sector breakdownafter 7/7 close · 20D average
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📈 Breadth snapshotTop 200 by market cap · 7/7 advancers vs decliners
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* 7/7 breadth balanced:102 up vs 97 down(A/D ratio 1.05:1); the index fell but over half of stocks still closed green — the decliners were highly concentrated in semiconductors / memory / equipment (the top 12 losers were all chip-chain names), while the advancers were energy / pharma / defensives / software. Three days running of 'violent sector rotation with total volume conserved' — the market is selling the most crowded, most-overvalued corner, not exiting wholesale.
🔁 7/6 → 7/7 change tracker
| Stock | 7/6 close (back-calculated) | 7/7 close | 7/7 change | Change highlights |
|---|---|---|---|---|
| INTCIntel | $122.19 | $110.39 | -9.66% | the biggest loser on the whole list: 18A delay + foundry losses + Samsung 1.4nm competition + MS underweight report all landed together, testing $110 support |
| WDCWestern Digital | $577.48 | $532.10 | -7.86% | 7/6's +7.14% bounce fully given back in a day; 10D -27.37%, the memory-storage selloff has not stopped |
| MRVLMarvell | $249.27 | $230.70 | -7.45% | ASIC/networking chips tumbled, 20D -12.44% the deepest in the group; 5D -16.94% |
| SNDKSanDisk | $1,744.34 | $1,617.70 | -7.26% | steadied at flat one day then broke down: 10D -28.85%, the most thorough de-bubbling on the whole list; Fwd 7.9 cheap band |
| KLACKLA | $233.32 | $216.47 | -7.22% | all four equipment majors sold off (LRCX -6.87% / AMAT -6.46% / ASML -4.26%); 5D -22.24%, the deepest in the equipment group |
| AMDAMD | $552.05 | $516.11 | -6.51% | 7/6's rebound leader +6.61% almost fully given back; market cap fell back to $841.6B |
| MUMicron | $984.76 | $938.38 | -4.71% | hit by rumors of slower SK Hynix HBM expansion; market cap held $1.06T, Fwd 6.3 deep-value band |
| HOODRobinhood | $117.56 | $112.90 | -3.96% | first clear pullback day after five strong sessions; 20D +36.90% still atop the 20D board, slipped to third in the momentum picks |
| NET Cloudflare | $247.54 | $268.83 | +8.60% | top gainer on the whole list: Scotiabank upgrade, PT $300 + upgrade wave; first entry to the 5D momentum board |
| GILDGilead | $129.61 | $136.36 | +5.21% | Trodelvy won FDA first-line TNBC approval (EU in parallel) + HSBC upgrade to Buy (target $155) |
| XOMExxon Mobil | $136.44 | $141.69 | +3.85% | oil bounced two days running (USO +4.38%); the five energy majors all rose: SHEL +4.93% / COP +4.69% / CVX +3.52% / BP +3.26% |
| NVDANvidia | $195.54 | $196.93 | +0.71% | the only large-cap chip name green against the trend in the semis bloodbath; market cap $4.77T, its lead over AAPL widened again to about 4.6% |
* The 7/6→7/7 main theme reversed again from 'broad AI-hardware rebound' to 'second semis selloff + energy & pharma take the baton': triggered by Samsung's 'good news priced in' + MS underweight report, 7/6's rebounders WDC / AMD / STX / QCOM gave back almost everything; energy (oil supply side) and pharma (GILD approval + upgrade) took over, and NVDA's green against the trend signals leader resilience. Back-calculated prior-day close = 7/7 close ÷ (1 + 7/7 change %).
📝 Summarycore takeaways after 7/7 close
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① Market structure: the three major indices eased from records — Nasdaq-1.16% closed 25,818.69, S&P -0.45% closed 7,503.85, Dow -0.25% closed 52,925.15,SMH -3.78%giving back all of 7/6's bounce (5D -8.00%). VIX 16.13 / VXN 27.92 rebounded but remain low; breadth 102:97 balanced — the index slipped, over half of stocks closed green, and the selloff was highly concentrated in the chip chain = day three of a rotation market.
② Theme 1: Samsung's 'good news priced in' triggered a second global chip selloff; Samsung's Q2 preliminary operating profit of ~$58B (nearly 19x YoY) beat estimates yet shares fell -7% (already +150% this year); Morgan Stanley's underweight call + rumors of slower SK Hynix HBM expansion + a Reuters report on DeepSeek's in-house chip — four arrows at once —INTC -9.66% / WDC -7.86% / MRVL -7.45% / SNDK -7.26% / KLAC -7.22% / LRCX -6.87% / AMD -6.51%. 7/6's 'AI-hardware confidence repair' lasted only a day, confirmed as a technical bounce rather than a trend reversal.
③ Theme 2: the memory duo's selloff isn't spent; NVDA green against the trend is the key signal: MU-4.71%(lost the $1,000 level, 10D -22.5%), SNDK-7.26%(10D -28.9%, the most thorough de-bubbling), the steadying script broke in a day; butNVDA +0.71% was the only large-cap chip name green under SMH -3.78%— capital rotated from high-beta chips back to the leader rather than abandoning AI. Fwd P/E (MU 6.3 / SNDK 7.9) gets cheaper the more it sells off,7/16 TSMC / ASML earnings are the ultimate bull/bear test of this cycle.
④ Theme 3: energy & pharma take the baton, the third leg of the rotation: oil's supply side bounced two days running (USO +4.38%, restricted Strait of Hormuz shipping + OPEC+ quota adjustments) — XOM +3.85% / CVX +3.52% / COP +4.69% / SHEL +4.93%, energy led broadly;GILD +5.21%(Trodelvy first-line approval + HSBC upgrade), JNJ +3.05% / LLY +2.96% pharma refocused;NET +8.60%an upgrade wave made it the top gainer. The oil rebound also raises CPI tail risk, adding pricing variables for tonight's FOMC minutes and the 7/15 CPI.
⑤ List changes: the 20D main list 2 →3 names(HOOD +36.90 held first for a fifth day, PANW still second,AMAT re-entered via the rolling base— down -6.46% on the day, a 'mathematical re-entry' not a momentum return). 5D momentum board 12 → 10 names,fully de-semiconductor-ized(PLTR to first; NOW / NET / CME newly entered; PANW / APP / CRWD / TSLA / GEV dropped off). Momentum picks changed guard:SPGI to first, SCHW second, HOOD pulled back to third, MCO / IBM newly in(PANW's short-term momentum fizzled out). The AI sub-sector 20D ranking unchanged with readings broadly improved — but a base illusion; on the day the four semiconductor sub-sectors were -4% to -10%.
⑥ Conclusion and this week's strategy: three days running of violent sector rotation (sell semis → buy energy & pharma defensives), the index only slipped = capital is repositioning within the market, not leaving. Key bull/bear points for semis: (1)NVDA green against the trend + MU/SNDK single-digit Fwd= leader and valuation-floor support remain; (2) memory's 10D -22% to -29% selloff needs a fundamental stanching point,7/16 TSMC / ASML earnings are the watershed; (3) tonight's FOMC minutes + the oil-rebound inflation variable → ahead of 7/15 CPI, high-multiple names (INTC Fwd 70.7) stay under pressure. Tactically: the momentum board is fully de-semiconductor-ized (SPGI / SCHW / MCO — financial data and brokerages are the new main axis); chasing a semis bounce needs volume-price confirmation; energy's two-day bounce is a supply-side event-driven move whose durability is unverified.
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Sources: Futu US top-200-by-market-cap list (7/7 close, cross-verified with Yahoo), Yahoo Finance (indices / ETFs / risk indicators / Fwd P/E / net income), CNN Fear & Greed Index (estimated), CNBC / TradingKey / 24-7 Wall St / FXLeaders / Scotiabank·HSBC upgrade coverage (7/7 post-close recap, Samsung preliminary earnings, INTC, NET, GILD).
This report is for reference only and does not constitute investment advice. All percentages are Futu / Yahoo actuals; F&G and PE are non-real-time official estimates.
DAILY US EQUITY · 2026-07-08 (7/7 US Eastern close)
This report is for reference only and does not constitute investment advice. All percentages are Futu / Yahoo actuals; F&G and PE are non-real-time official estimates.
DAILY US EQUITY · 2026-07-08 (7/7 US Eastern close)
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