PUT IN WORK (7/20/2026)

We’re back with another issue! Last week was a rough one for the market, especially for tech. The Nasdaq (QQQ) ended the week down 4.2%, while the S&P 500 (SPY) finished down 1.6%. Though Tuesday and Wednesday gave investors a bit of hope, weakness in chip stocks and ongoing tensions in the Middle East pulled the market lower by Friday’s close.

Monday started the week in the red as chip stocks weighed heavily on the market. The Nasdaq dropped 1.6%, while the S&P 500 fell 0.8%. Names like Micron (MU), Sandisk (SNDK), Seagate (STX), and Western Digital (WDC) all moved lower. Oil prices also jumped, adding another layer of uncertainty for investors.

Tuesday brought some relief after June inflation data came in softer than expected. The Nasdaq rose 0.9%, and the S&P 500 climbed 0.4%, helped by a rebound in chip stocks and a strong move from Nvidia (NVDA). That being said, IBM (IBM) was a major loser after it warned that its quarterly results would be worse than expected.

Wednesday continued the bounce as markets reacted positively to another encouraging inflation reading. The Nasdaq added 0.6%, and the S&P 500 gained 0.4%. Big tech held up fairly well, with Apple (AAPL) leading the Magnificent Seven higher, while PayPal (PYPL) surged after reports of a major takeover bid.

Thursday turned the mood lower once again. The Nasdaq fell 1.5%, and the S&P 500 slipped 0.5% as concerns around AI spending hit chip stocks. SanDisk and Seagate both fell sharply, and Alphabet (GOOG) also struggled after reports that Google was behind schedule on its next major AI model.

Friday sealed the week in the red. Stocks fell again as tech remained under pressure and oil prices surged following escalation in the Middle East. Netflix (NFLX) sank after a disappointing growth outlook, SpaceX (SPCX) hit a fresh post-IPO low, and most of the Magnificent Seven ended lower.

(Nasdaq ETF (QQQ) price from July 2025 - 2026 — each candle is 1 week. Chart provided by tradingview.com.)

PORTFOLIO UPDATE

Despite the market’s downturn, our portfolio stayed relatively flat. Naturally, some of our high-fliers shifted lower than the others, but as a whole, our portfolio performed relatively well. We plan to hold all currently owned stocks for the foreseeable future. As always, thank you for reading, and happy investing.