Stock market today: Dow rises, Nasdaq slips as Nvidia leads chip stocks lower, oil prices plunge

Stock market today: Dow rises, Nasdaq slips as Nvidia leads chip stocks lower, oil prices plunge Grace O'Donnell , Jake Conley and Ines Ferré Updated Tue, July 28, 2026 at 12:00 AM GMT+2 1 min read CL=F NVDA ^DJI ^GSPC ^IXIC US stocks were mixed on Monday, with chip stocks selling off. Oil prices sank, offsetting tech weakness, as markets kicked off the busiest week of the quarter , jam-packed with more Big Tech earnings and a Federal Reserve decision. The Dow Jones Industrial Average ( ^DJI ) gained almost 0.

5%, while the S&P 500 ( ^GSPC ) was little changed. The tech-heavy Nasdaq Composite ( ^IXIC ) dropped nearly 0. 2% after a choppy week sent the indexes lower .

Market sentiment wavered over growing concerns of circular financing, with Nvidia ( NVDA ) shares tumbling more than 4%. Meanwhile, t he Information reported that a Chinese state-backed company began mass-producing a key piece of chipmaking equipment, sending shares of ASML ( ASML ) down by over 5%. Tech weakness counteracted optimism from the  US and Iran's pause in fighting , which raised hopes that peace negotiations could resume after two weeks of attacks.

Oil prices tumbled over 9% amid renewed optimism about a path to end the war, with Brent crude ( BZ=F ) futures trading below $88 a barrel at last check. A continued decline in oil prices could take some pressure off the Federal Reserve, which is set to deliver an interest rate decision on Wednesday. The central bank is expected to hold rates steady as officials monitor progress on inflation, though a rate hike is not off the table in one of the least-telegraphed Fed decisions in years.

Top of mind, meanwhile, will be a wave of earnings reports, including Big Tech reports from Microsoft ( MSFT ), Meta Platforms ( META ), Apple ( AAPL ), and Amazon ( AMZN ). All eyes will be on capital expenditure guidance and AI monetization after capex from Alphabet ( GOOG ,  GOOGL ) and Tesla ( TSLA ) trigge red a meltdown in the tech sector.