US week in review — Saturday, July 25, 2026

Nasdaq drops 2.1% on the week as AI spending doubts meet a $100 oil scare

US stocks posted a second straight weekly loss. The S&P 500 closed at 7,411.98, down 0.61%, and the Nasdaq fell 2.13% to 24,975.82, while the Dow held up better at a 0.38% decline. Tesla fell 17.8% and Alphabet dropped 7% on Thursday after Wednesday night results reopened the question of what AI capital spending is buying. Brent crude pushed above $100 for the first time in two months before easing to $96.78 on Friday. The 10-year Treasury yield rose about 14 basis points to 4.679%. Energy, utilities and industrials finished higher and the VIX ended lower at 18.58.