Tuesday, July 28 is one of the busiest earnings days of the season. Over 30 S&P 500 names report. Markets are digesting results across logistics, beverages, aerospace, and payments — all at once. Meanwhile, a tech sell-off is deepening, hitting semiconductor names hardest.
KO and UPS opened the day's results. Coca-Cola investors watched emerging-market volume data closely. UPS faces a tougher read — e-commerce growth has slowed and analysts already trimmed the average target to $114.52. BA reported later, with cash burn and delivery numbers the key focus after a difficult year. RCL is a brighter spot. Royal Caribbean has been a standout performer and any guidance upgrade could lift the broader cruise sector.
Teradyne delivered a strong beat. Q3 EPS guidance of $1.85–$2.15 crushed the $1.53 estimate. Revenue guidance of $1.2–$1.3bn also topped forecasts by a wide margin. That's a meaningful positive signal for chip testing equipment demand.
Semiconductors are the session's weak spot. NVDA sits at RSI 42 and bearish options flow has picked up. TSLA is the most oversold large-cap, with RSI at 27.3 and a 31% year-to-date loss. Short sellers are also piling into names like Wolfspeed, where SI exceeds 118% of free float.
SK Hynix earnings are being watched closely for a verdict on whether the AI memory selloff has been overdone. MU is directly in frame — it has rallied 215% year-to-date but options traders are now fading that run hard.
Swedish investment company Industrivärden filed today that it bought 1.3 million shares of VOLV B for $48.2 million on July 27. The same firm has also been a major buyer of SHB A (Svenska Handelsbanken), joining Deputy Chairman Lars Fredrik Lundberg in over $93 million of coordinated purchases. That scale of board-linked buying in two Swedish blue chips is rare and stands out against the broader cautious tone.
API data showed a crude inventory build of 3.3 million barrels versus a 2.5 million barrel draw expected. That miss adds downward pressure on oil prices heading into Wednesday's official EIA figures.
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