Market Open: Stocks Mixed, Tech Correction Alert; Oil Retreats • 7/28/26

Watch on YouTube ↗  |  July 28, 2026 at 14:16  |  3:53  |  CNBC
Speakers
Mary Ann Bartels — Chief Investment Strategist, Sanctuary Wealth
Mike Sommers — President & CEO, American Petroleum Institute
Jessica Ettinger — Anchor, CNBC

Summary

Stocks opened mixed with the Dow higher but the S&P 500 and Nasdaq lower, pressured by a tech and semiconductor sell-off. Maryanne Bartells of Sanctuary Wealth warns of a further 20-30% decline in semiconductors. Oil retreats near $80 as US-Iran tensions ease, but API's Mike Summers cautions that depleted global strategic reserves could drive a sharp price spike if a future disruption occurs. Strong earnings from Coca-Cola and UPS provided offsetting support, while Boeing faced losses and a new FAA seat-inspection issue.

  • Dow up 0.5%, S&P 500 flat, Nasdaq down 0.8% with chip stocks struggling.
  • Sanctuary Wealth strategist warns semiconductors could fall 20-30% from the top.
  • Asian chipmakers sold off overnight on AI skepticism; SK Hynix fell 15%.
  • Apple surpassed Nvidia as the world's most valuable company.
  • Oil fell to around $80 as US-Iran strikes stopped and Trump sees deal chance.
  • API's Mike Summers warns low global SPR (lowest since 1983) leaves market vulnerable to a price spike on any disruption.
  • Coca-Cola and UPS both beat and raised guidance; Boeing missed and faces new FAA seat concerns on 737 Max.
Ideas
Mary Ann Bartels Chief Investment Strategist, Sanctuary Wealth 1:00
Semiconductors face 20-30% decline.
We are probably in for another down leg in semiconductors. A semiconductor ETF could fall 20% to 30% from the top. Investors should buckle up for further declines.
SMH HIGH
Mike Sommers President & CEO, American Petroleum Institute 1:53
Low reserves could spike oil prices.
Global strategic petroleum reserves, including the US SPR, are at the lowest since 1983. The shock absorbers built into the system are gone. Any significant disruption after the current conflict could lead to significantly higher oil prices.
WTI MED
Up Next
3:09
Maurits Pot: We are the only ETF in the world that owns CXMT
CNBC · Jul 28
1:08:19
Why Yield Curve Control is the Only Way to Stop a Global Bond Crisis | Luke Gromen
Monetary Matters · Jul 28
3:32
Expect Dissents at Latest Fed Rate Meeting, Duke Says
Bloomberg Markets · Jul 28
6:13
Boeing CEO Kelly Ortberg on Q2 results: We are seeing the uncertainty in our company narrow
CNBC · Jul 28
51:19
Changsin Memory will catch Samjeon-Nix? Unexpected low-price buying opportunity in a crash market | Myeong Min-jun, Park Ga-young, Lee Ji-hwan [Jurin-i Rescue Team]
3PRO TV (삼프로TV) · Jul 28

This CNBC video, published July 28, 2026, features Mary Ann Bartels, Mike Sommers discussing SMH, WTI. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Mary Ann Bartels, Mike Sommers  · Tickers: SMH, WTI