US Markets Mixed: Geopolitical Optimism vs Tech Sell‑off

The New York Stock Exchange closed the day on a wavering note, buoyed by optimistic diplomatic signals between the US and Iran and solid corporate balance sheets, yet weighed down by a sell‑off in tech stocks.

Geopolitical Optimism Echoes in the Markets

■Dow Jones index rose 0.49% to 54,349.12, setting a fresh record high.

■S&P 500 slipped 0.17% to 7,723.55.

■Nasdaq fell 0.83% to 26,363.44.

■President Donald Trump described the US‑Iran talks as "very good" and hinted that the Strait of Hormuz would open "very soon."

■Iran Deputy Foreign Minister Kazım Garibabadi said negotiations are in the final stage, with a temporary route expected to last 2‑4 months.

Tech Stock Sell‑off Pressure

■SpaceX shares dropped 13.6% despite a 92% YoY revenue jump to $7.81 bn in Q2, as high AI‑related capital expenditures spooked investors.

■Advanced Micro Devices (AMD) fell 7% even after beating earnings expectations.

■Nvidia rallied 3.4% after Elon Musk confirmed exclusive use of Nvidia chips for his ventures.

Corporate Earnings and Sectoral Impact

■Eli Lilly rose 4.9% following an upward revision of its full‑year revenue outlook.

■The Walt Disney Company gained 3.7% after profit exceeded forecasts.

■SpaceX reported a reduced net loss YoY, yet AI investment intensity kept its stock under pressure.

Macro Data and Labor Market Insights

■US employment data: Private‑sector jobs increased by 44,000 in July, underperforming market expectations.

■ISM Services PMI stood at 54.1, indicating continued growth but below forecasts.

■With the Fed’s rate policy in focus, the softening labor market remains a risk factor.

Caner Yılmaz – BIST 100 Technical & Quantitative Analysis Director: While geopolitical optimism and a robust earnings season continue to buoy the markets, the tech‑stock sell‑off demands close monitoring. The Nasdaq’s downward drift underscores heightened risk perception in high‑valuation equities. Fibonacci retracement points support the Dow Jones’s new highs, whereas the S&P 500 edges toward a 38.2% correction zone, hinting at possible volatility. Consequently, short‑term dips in AMD and SpaceX call for a reassessment of portfolio risk controls and stop‑loss placements.