{"id":64692,"date":"2026-07-13T06:07:14","date_gmt":"2026-07-13T10:07:14","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-sector-under-pressure-as-earnings-season-gains-momentum\/64692\/"},"modified":"2026-07-13T06:07:14","modified_gmt":"2026-07-13T10:07:14","slug":"tech-sector-under-pressure-as-earnings-season-gains-momentum","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-sector-under-pressure-as-earnings-season-gains-momentum\/64692\/","title":{"rendered":"Tech Sector Under Pressure as Earnings Season Gains Momentum"},"content":{"rendered":"

The U.S. stock market started the week of Monday, July 13th, 2026, with a cautious tone as investors braced for a heavy slate of corporate earnings and critical economic data. Premarket<\/a> activity suggested a divergence between sectors, with technology stocks facing significant headwinds while energy and defensive sectors showed relative strength. As the opening bell rang, the focus shifted toward the health of the consumer and the trajectory of interest rates ahead of the Federal Reserve\u2019s next policy meeting.<\/p>\n

Major Market Indexes and ETF Performance<\/h2>\n

Current market data reflects a significant split in performance across the major averages. The tech-heavy Invesco QQQ Trust (QQQ<\/a>), which tracks the Nasdaq 100, is leading the decline with a drop of 0.93%. Similarly, the State Street SPDR S&P 500<\/a> ETF Trust (SPY<\/a>) is down 0.28%, weighed down by its heavy concentration in growth and semiconductor names.<\/p>\n

In contrast, the blue-chip Dow Jones<\/a> Industrial Average, represented by the State Street SPDR Dow Jones Industrial Average ETF Trust (DIA<\/a>), remains nearly flat with a marginal gain of 0.01%. Small-cap stocks are also seeing slight pressure, with the iShares Russell 2000 ETF (IWM<\/a>) down 0.11%. Market volatility is on the rise, as evidenced by the iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX<\/a>) jumping 1.08%.<\/p>\n

Sector-wise, energy is the clear standout. The State Street Energy Select Sector SPDR ETF (XLE<\/a>) rose 1.09%, fueled by a 2.4% surge in the United States Oil Fund (USO<\/a>). Conversely, the State Street Technology Select Sector SPDR ETF (XLK<\/a>) is underperforming, falling 1.27%.<\/p>\n

Tech and Semiconductor News<\/h2>\n

The semiconductor space is experiencing a sharp pullback today. Micron<\/a> Technology, Inc. (MU<\/a>) is one of the most active stocks in the market, falling 5.2% following concerns over supply chain pricing. This sentiment has spilled over to Nvidia<\/a> Corp (NVDA<\/a>), which is down 1.4% in early trading. Other notable movers in the hardware space include Western Digital Corp. (WDC<\/a>), down 5.7%, and Sandisk<\/a> Corporation (SNDK<\/a>), which has tumbled 6.4% on high volume.<\/p>\n

In the mega-cap space, Meta Platforms, Inc. (META<\/a>) is seeing a modest decline of 0.3%. The broader AI theme is also taking a hit, with the iShares A.I. Innovation and Tech Active ETF (BAI<\/a>) sliding 2.87%.<\/p>\n

Upcoming Market Events and Earnings<\/h2>\n

Investors are looking ahead to a pivotal week for the financial sector. While Fastenal Co (FAST<\/a>) reported Q2 earnings this morning, the real "kick-off" to earnings season begins tomorrow, Tuesday, July 14th. A wave of major banks will report before the open, including JPMorgan Chase & Co. (JPM<\/a>), Bank of America Corporation (BAC<\/a>), Goldman Sachs Group Inc. (GS<\/a>), Wells Fargo & Co. (WFC<\/a>), and Citigroup Inc. (C<\/a>). These results will provide crucial insights into the state of the U.S. consumer and the impact of current interest rate levels on net interest margins.<\/p>\n

Later in the week, the tech sector will face further scrutiny with reports from ASML Holding NV (ASML<\/a>) on Wednesday and Taiwan Semiconductor Manufacturing Company Ltd. (TSM<\/a>) on Thursday. Netflix Inc (NFLX<\/a>) is also scheduled to report Thursday after the close, which will likely serve as a major catalyst for the streaming and communication services sectors.<\/p>\n

Notable Premarket Movers<\/h2>\n

Outside of the major indices, several smaller companies are seeing extreme volatility. Mint Incorporation Limited (MIMI<\/a>) soared 51.9% in premarket<\/a> trading on massive volume, while Eshallgo Inc. (EHGO<\/a>) gained 35.1%. On the downside, Global Mofy AI Limited (GMM<\/a>) fell 28.3%, and Julong Holding Limited (JLHL<\/a>) dropped 26.7%. In the biotech space, Q32 Bio Inc. (QTTB<\/a>) is up 30.4% following positive clinical news, and Agenus Inc. (AGEN<\/a>) has climbed 12.4%.<\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. stock market started the week of Monday, July 13th, 2026, with a cautious tone as investors braced for […]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[94,6824],"tags":[95,174,311,633,3710,4380,5001],"class_list":["post-64692","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-update","category-featured","tag-nasdaq","tag-jpm","tag-mu","tag-nvda","tag-federal-reserve","tag-stock-market","tag-earnings-season"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/64692","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=64692"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/64692\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=64692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=64692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=64692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}