Market Close: Stocks Mixed, Strategic Oil Reserve at 1983 Low • Earnings Ahead • 7/27/26

Summary

US equities closed mixed with the Dow higher and Nasdaq slightly lower. Oil suffered its worst day since mid-April, but Jim Lebenthal argues prices will hold up because the Strategic Petroleum Reserve is at its lowest since 1983 and must be refilled. Steve Eisman disclosed he sold Alphabet, citing AI capex risks, lack of moats, and cheaper Chinese competition. The SEC chair highlighted a booming IPO market ahead of Jersey Mike's listing.

• Dow up ~0.5%, S&P 500 flat, Nasdaq down slightly
• Crude oil had its worst day since mid-April, falling 7% to below $83
• Jim Lebenthal says SPR at 1983 lows requires refilling, supporting oil prices
• Steve Eisman sold Alphabet, warning AI capex may not deliver and Chinese models are cheaper
• Eisman also noted risk of price war and questioned moats around large language models
• SEC Chair Paul Atkins says over 400 IPOs signal strong regulatory and economic tailwinds
• Heavy earnings week ahead with Coca-Cola, Ford, Boeing, Visa among others reporting
• Fed begins two-day meeting; consumer confidence and home price data also due