US stocks displayed a modest recovery on July 24, 2026, with the Dow Jones Industrial Average rising by 0.7% and the S&P 500 increasing by 0.5%. The Nasdaq Composite remained stable despite a recent sell-off, particularly among major tech stocks dubbed the 'Magnificent Seven,' which collectively lost nearly $800 billion in value on the prior day. Investors reacted to new global tariffs imposed by President Trump, affecting nearly all US imports, and raising concerns over inflation amid rising oil prices. However, oil prices fell by 5%, trading below $95 per barrel. Notable earnings reports showed mixed results with companies like Verizon and American Express beating earnings expectations but missing revenue targets.

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LIVE Updated 39 mins ago

Stock market today: Dow, S&P 500, Nasdaq recover as oil eases, new Trump tariffs take effect

Grace O'Donnell and Jake Conley

Updated Fri, July 24, 2026 at 2:09 PM EDT2 min read

US stocks moved higher on Friday as investors assessed a new set of global tariffs against a backdrop of AI jitters, rising oil prices, and elevated bond yields.

The Dow Jones Industrial Average ( ^DJI) rose 0.7%, while the S&P 500 ( ^GSPC) advanced by 0.5%. The tech-heavy Nasdaq Composite ( ^IXIC) hugged the flat line as Wall Street stocks attempted to stabilize after a sharp sell-off on Thursday, led by megacap tech names.

51,876.76 +165.11 (+0.32%)

As of 2:48:31 PM EDT. Market Open.

^DJI^GSPC ^IXIC

Even with Friday's modest gains, the major indexes were on track for weekly losses after the "Magnificent Seven" stocks collectively shed nearly $800 billion in market value on Thursday amid a sell-off sparked by ballooning AI spending. Shares in semiconductor giant Intel ( INTC) fell on Friday as well despite the company's results blowing past Wall Street's expectations in the second quarter.

Overnight, President Trump's latest set of global tariffs targeting nearly all US imports went into effect. The new Section 301 tariffs, which the administration hopes will better withstand legal scrutiny, levy rates of 10% to 12.5% on the US's top trading partners.

The White House exempted some energy products from those tariffs as markets contend with higher oil prices that threaten to derail progress on inflation and ripple throughout the economy. That said, S&P Global's flash PMI showed that US business activity expanded at the fastest pace in eight months in July, boosted by the World Cup.

Oil prices fell on Friday, with Brent crude ( BZ=F) futures down 5% to trade below $95 per barrel. But the international benchmark was set for a weekly gain after touching $100 per barrel.

On the corporate front, Verizon Communications ( VZ), American Express ( AXP), and NextEra Energy ( NEE) reported earnings beats but missed estimates on revenue.