According to CNBC, the S&P 500 remains less than 3% below its June record high even as roughly 160 index members traded below their 50-day moving averages through Monday's close, 197 constituents were down for the month, and 43 had fallen 10% or more in July. More than half of the benchmark has also seen its relative strength index decline over the past month, with RSI lower for 264 stocks.
Wells Fargo Investment Institute global equity analyst Alex Sagal said there is a growing gap between muted index-level volatility and elevated volatility in individual stocks, and that sustained stock-specific swings could eventually feed into greater volatility for the broader index as earnings season continues. Microsoft, Apple, Amazon and Meta Platforms are due to report this week. FactSet data showed about one-third of S&P 500 companies have reported results so far, and 83% have beaten analyst estimates. Tesla and Alphabet were two high-profile misses that weighed on the market last week.
S&P 500 internals weaken as megacap earnings and volatility loom
2026-07-28 13:25:52
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