Why Is the Stock Market Up Today, 7/21/26?
Complete. Here is the key summaryThe S&P 500 and Nasdaq 100 rose as AI stocks like Micron, Intel, AMD, Nvidia, and Broadcom recovered from last week's selloff. Investors ignored U.S.-Iran tensions, focusing on upcoming earnings from major tech firms like Alphabet, Tesla, Microsoft, Apple, and Amazon. Meanwhile, President Trump announced a 50% tariff hike on Canadian items, but Prime Minister Mark Carney stated trade talks would be accelerated to avoid the duties.
Both the S&P 500 (SPX) and the Nasdaq 100 (NDX) are trading higher on Tuesday as AI stocks continue to recover from a steep selloff last week.
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Micron (MU), Intel (INTC), and AMD (AMD) are leading the way higher, while Nvidia (NVDA) and Broadcom (AVGO) are also in the green. Investors have brushed off escalating U.S.-Iran tensions, at least for the time being, as attention shifts to AI demand and upcoming earnings from major tech companies.
Earnings Heat Up as Tariff Risks Return
Volatile price action could arrive in the coming days as earnings roll in. Alphabet (GOOGL), Tesla (TSLA), and Texas Instruments (TXN) are set to report on Wednesday, followed by Intel (INTC) on Thursday. Next week will be even busier, headlined by reports from Microsoft (MSFT), Apple (AAPL), and Amazon (AMZN).
Elsewhere, President Trump announced Monday a tariff hike on several Canadian items to 50%, effective August 19. However, Canadian Prime Minister Mark Carney said today that Trump had agreed to accelerate trade talks in an effort to avoid the higher duties before they come into effect. The White House cited "discriminatory treatment" of U.S. products as the reason for the higher rates.