Market Open: Stocks Higher, Microsoft +14%, Meta's First Earnings Miss in 3 Years · 7/30/26

Summary

Wall Street opened higher after yesterday's selloff, led by Microsoft (+14%) and chip makers. Mixed signals from oil markets as Iran threatens retaliation after US strikes, while US GDP grew a weak 1.5% and inflation remains elevated. The Fed held rates steady, and the 30-year Treasury yield hit its highest since 2007. Meta missed earnings for the first time in three years, sending shares down 9%, while Microsoft surged on strong results and its Anthropic AI investment. A major AI hedge fund is unwinding trades after losses, and Shell posted its best quarterly profit in four years on the US-Iran war.

• Stocks open higher, Microsoft up 14%, chip makers rally except Qualcomm down 5%.
• Oil prices lower but Iran threatens retaliation after US strikes, keeping geopolitical risk high.
• US Q2 GDP growth of 1.5% misses expectations, PCE inflation 3.7% YoY above Fed target.
• Fed holds rates steady; 30-year Treasury yield highest since 2007, long bonds dumped.
• Meta misses earnings first time in three years, shares drop 9%; Microsoft surges on AI investment.
• AI hedge fund Situational Awareness unwinding trades after steep losses, prime brokers marketing portfolio.
• Shell posts best quarterly profit in four years as US-Iran war boosts oil and gas prices.