Major Stock Indexes Rebound Sharply on July 30, 2026; Tech Shares Lead Gains
On Thursday, major U.S. stock indexes rebounded sharply after falling the previous day due to a Fed decision to keep interest rates unchanged. The Nasdaq Composite rose by 2.8%, the S&P 500 gained 1.7%, and the Dow Jones Industrial Average climbed 1.2%. Tech stocks led the recovery, with Microsoft (MSFT) surging 16% after beating earnings expectations and reaching a market cap of over $3.5 trillion. Meta Platforms (META), however, saw its shares fall by 8% as it missed profit forecasts due to rising costs. Memory-related ETFs like Roundhill Memory ETF (DRAM) and iShares Semiconductor ETF (SOXX) also rebounded strongly after significant declines the day before. Other memory stocks such as Sandisk (SNDK), Micron Technology (MU), Seagate Technology (STX), and Western Digital (WDC) saw gains between 12% and 26%. Apple (AAPL) shares dipped slightly, while Amazon (AMZN) rose by 4%, ahead of their earnings reports. The rebound came after the Fed's decision to hold rates steady. Traders now see a 63% chance of at least a quarter-point rate hike in September, down from earlier expectations.
Tickers: $AAPL $AMZN $DRAM $META $MSFT $MU $SNDK $SOXX $STX $WDC
Topics: earnings reports Fed policy stock market tech sector performance