Market Midday: Stocks Mixed, WBD-Sky Deal Delayed, Gas Tops $4 Again • 7/20/26

Summary

The CNBC midday news update reports mixed equity markets with chipmakers rallying, volatile oil prices on reports of possible US-Iran talks and a new Houthi maritime embargo threat. Gasoline prices top $4 again, while a court delays the Warner Bros. Discovery and Paramount merger. Individual stock movers include Apple falling from an all-time high, AMD launching an AI system, Alphabet rising on an AI chip report, and SpaceX hitting an all-time low.

• Major indices mixed: Dow down, S&P and Nasdaq up; chipmakers strong, led by Micron, Intel, AMD.
• Oil volatile around $82, with Houthis threatening the Bab al-Mandeb Strait route via Saudi Arabia.
• Gasoline national average back above $4 per gallon, raising consumer and inflation concerns.
• US District Court issues temporary restraining order delaying the Paramount-Skydance and Warner Bros. Discovery merger.
• AMD launches Helios rack AI system to rival Nvidia and adds Microsoft as a buyer.
• Alphabet shares rise on a report it is developing a more efficient AI chip.
• JetBlue wins Spirit Airlines’ former LaGuardia slots and eyes a move to the Marine Air Terminal.
• SpaceX hits an all-time low since its market debut; Travelers, Philip Morris, Marathon Petroleum, Phillips 66, Valero hit all-time highs.