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By Jess Menton

July 20, 2026 at 9:41 AM EDT

Updated on July 20, 2026 at 4:27 PM EDT

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The S&P 500 Index erased early gains to finish lower as a decline in Apple Inc. and Tesla Inc. offset advances elsewhere. Chipmakers rebounded ahead of a deluge of earnings reports that will test whether Big Tech’s profits can match high expectations.

The equities benchmark slipped 0.2%. Apple and Tesla were the biggest point decliners in the S&P 500, keeping broader market gains in check after the iPhone maker briefly overtook Nvidia Corp. as the world’s most valuable company on Friday. The Nasdaq 100 Index eked out a gain of less than 0.1%, led by semiconductor companies, after its worst week in almost a month. The Philadelphia Stock Exchange Semiconductor Index gained 0.6% after falling into a bear market last week.

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