Brent crude slipped back below $100 a barrel, easing inflation fears and helping Wall Street stabilize just days before the Federal Reserve's rate decision. Here's today's market wrap.
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After a jittery week driven by surging oil prices, Wall Street caught a break on Friday. Brent crude slipped back below $100 a barrel, reclaiming ground lost after inflation fears and AI capital-spending jitters hammered shares earlier in the week. The retreat is offering investors a brief window to catch their breath just days before the Federal Reserve's closely watched rate decision.
Why oil pulled back
Crude has managed to keep flowing through Middle East trade routes despite ongoing hostilities, which helped cool the panic that briefly sent prices above the $100 mark earlier this week. The pullback in energy prices is easing pressure on the Treasury market at a pivotal moment, with the Fed's policy meeting now just days away.
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Wall Street wavers but holds steady
Stocks ended a volatile week roughly flat. A drop in oil prices and continued strength in corporate profits helped offset a sharp selloff in chipmakers. While most S&P 500 components actually rose, the index was little changed on the week, weighed down by a steep 4.3% drop in the semiconductor gauge. The Nasdaq 100 fell over 1%, while the broader market showed signs of stabilizing into Friday's session.
What's driving sentiment now
Markets remain jittery over enormous AI spending as earnings season rolls on, even as easing oil prices offer some relief on the inflation front. Investors are now shifting focus toward next week's packed calendar, which includes the Fed's rate decision and earnings from several more megacap technology names.
[Insert image here: Federal Reserve building]
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What to watch next
- Whether oil stays below $100, or if Middle East tensions reignite another spike
- The Fed's rate decision, with markets split between a hold and a possible hike
- Upcoming megacap earnings, which could either calm or reignite AI-spending concerns
Bottom line
Today's pullback in oil prices offered Wall Street some much-needed breathing room after a turbulent week. But with the Fed decision and a fresh wave of Big Tech earnings looming, the calm may prove short-lived. We'll cover each of these developments as they unfold.
This post is based on reporting from Bloomberg and Charles Schwab as of July 24-25, 2026. This content is for informational purposes only and does not constitute investment advice.
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