Daily US Equity Report 2026-07-24 (Fri)
7/23 (Thu) — AI-bill day, megacap earnings ignite a risk-off rotation: sell megacap tech, buy old-economy value. TSLA -14.52%, GOOGL -7.13% on capex fears; defense/healthcare/memory/energy take the baton. Nasdaq -2.15%, VIX +12%, breadth turns negative.
US Equities 07/24 ［7/23 (Thu) Megacap earnings ignite a risk-off rotation:Megacap tech tumbles TSLA -14.52% (Q2 earnings badly miss) / TMUS -10.75% / GOOGL -7.13% (Alphabet lifts 2026 capex to $205.0B, AI-bill panic) / AMZN -4.57% / ORCL -4.61%;Old-economy value takes the baton — defense earnings surge LMT +10.54% / RTX +7.33%, healthcare TMO +8.71% / DHR +7.46%, rails CSX +5.77% / UNP +4.02%, oil tops $100 and energy rallies together; the three major indexes S&P -1.21% closing at 7,408.30 / Nasdaq -2.15% at 25,137.69 / Dow -0.97% at 51,711.65, SMH -1.15%, VIX +12.38% to 18.70, breadth turns negative 82:118; memory/storage extends its 5D surge (STX +22.5% / WDC +19.6% / MU +16.1% / SNDK +14.1%); 20D list at 4 names (energy), 5D board jumps 2→8 names (memory/HDD + defense + energy)]
Data as of：2026-07-23 (Thu) U.S. Eastern close, actual figures · Generated：Taipei 7/24 07:00
|
🎯 Today's (7/24) Focus
|
One-line Summary
7/23 (Thu) "AI-bill day, megacap earnings ignite a risk-off rotation" — sell megacap tech, buy old-economy value：the prelude to the earnings super-week ran completely out of control, and the three major indexes closed lower in unison (S&P -1.21% at 7,408.30, Nasdaq -2.15% at 25,137.69, Dow -0.97% at 51,711.65), with the Nasdaq leading the drop as the selling concentrated in megacap tech.TSLA -14.52%(Q2 earnings badly miss, opex growing faster than revenue, free cash flow turns negative), Alphabet GOOGL -7.13% / GOOG -6.89%(cloud revenue +82% to $24.8B beats, but 2026 capex lifted to $205.0B, the market panics over the AI bill, and it was also fined €890M by the EU), TMUS -10.75%(telecom earnings landmine), AMZN -4.57% / ORCL -4.61% / SHOP -5.42% sold off together. Capital rotated into old-economy names with standout earnings：defense LMT +10.54% / RTX +7.33%, medical tools TMO +8.71% / DHR +7.46%, rails CSX +5.77% / UNP +4.02%, memory MU +3.20%, oil tops $100 (USO +5.93%) and energy rallied together.VIX +12.38% to 18.70, breadth turns negative 82:118, and F&G is estimated to pull back to roughly 38-40 Fear.The 20D list holds at 4 energy names, while the 5D board jumps 2→8 (memory/HDD + defense + energy take over the near-term momentum). Mainstream axes
▲ Old-economy value + earnings delivery take the baton LMT +10.54%, TMO +8.71%, DHR +7.46%, RTX +7.33%, CSX +5.77%, GEV +4.69%, UNP +4.02%, MU +3.20%, SYK +3.15%, CB +2.92%, CNQ +2.62%, EQNR +2.58% ▼ Megacap tech earnings crash, AI-capex bill panic TSLA -14.52%, TMUS -10.75%, GOOGL -7.13%, GOOG -6.89%, SCCO -6.78%, SHOP -5.42%, ORCL -4.61%, AMZN -4.57%, CRM -3.72%, APP -3.30% ↳ Unlike 7/22's "flat-line mirage, software de-bubbling," 7/23 was a risk-off rotation day of "megacap tech earnings genuinely crashing while capital rotated clearly into the old economy"：Alphabet's and Tesla's two earnings reports revealed that "AI demand is still there, but the bill keeps getting more expensive"; the market is no longer willing to overlook the capex cost, the Nasdaq led lower -2.15%, and breadth turned negative 82:118 as an early sign of directional pressure; at the same time defense (LMT/RTX beat), medical tools (TMO/DHR), and rails (CSX/UNP) posted strong earnings, plus oil topped $100, forming a textbook "sell growth, buy value" rotation. Policy & Liquidity
AI-bill panic: Alphabet lifts 2026 capex to $205.0B Alphabet Q2 cloud +82% with operations beating, but capital-expenditure guidance was sharply raised to as much as $205.0B, and the market worries the payback cycle on AI-infrastructure investment is lengthening; "the market still believes in AI, it just is no longer willing to overlook the price" = megacap tech's margin for error has fallen to a new low, becoming instead the biggest wildcard for MSFT/META earnings on 7/29. Earnings super-week climax: megacaps + FOMC on the same stage (next week) 7/29 (Wed) MSFT + META after the close, same-day FOMC rate decision (7/28-29 meeting, decision 7/29 14:00 ET)、7/30 (Thu) AAPL + AMZN follow = AI-capex guidance and monetary policy set the tone on twin tracks; GOOGL/TSLA have already become the first judges of the "AI bill," while MSFT/META are the second judges of whether the large platforms can prove out their moats. Oil back above $100, 10Y rises to 4.70% inflation-side risk resurfaces USO +5.93% closing at 139.49 (oil back above the $100 mark), energy stocks EQNR/CNQ/TTE/PBR advanced in tandem; 10Y rises to about 4.70%(about +5bp), DXY 101.44 (+0.29%). Higher oil is a new inflation variable for June PCE on 7/31 and the FOMC rate-cut path, and also an accelerant for the value rotation. |
🎁 How the 3-day free trial works / 3 天免費試用如何運作
1. Sign up and link your Patreon
2. Choose a plan to start your trial
3. Instantly unlock the full report
Cancel anytime, no commitment · 隨時取消，無需綁約
💳 Pay by credit card or PayPal via your Patreon accountYour card details stay with Patreon · 信用卡或 PayPal，由 Patreon 安全處理
