Back to all news
US EquitiesMarketsEarnings

US Stocks Turn Mixed as Sandisk, Western Digital Earnings Hit Chip Sentiment

Published on August 7, 2026

U.S. stocks were mixed midweek as a record-setting Dow collided with weakness in the S&P 500 and Nasdaq, with oil prices and earnings driving the tone. The sharpest company-specific reaction in the live coverage came from Sandisk and Western Digital, which fell after their results and weighed on chip sentiment.

U.S. stock market screen showing mixed index performance and earnings-driven volatility

US stocks edge lower as oil prices and earnings keep investors on edge

U.S. stocks finished mixed to lower midweek as investors balanced a record-setting Dow with pressure on the S&P 500 and Nasdaq from higher oil prices and a fresh wave of earnings. Reuters and CNBC both said traders were looking ahead to another round of corporate results while the broader market paused after a strong run.

The most notable move in the live coverage centered on chip and memory names. Investor’s Business Daily reported that Sandisk (SNDK) and Western Digital (WDC) plunged after their earnings reports, dragging on futures and helping set a cautious tone for the session. That weakness came even as the Dow had just notched a record close the prior day, underscoring how quickly leadership is rotating across sectors.

AP said the S&P 500 slipped 0.2% from an all-time high to close at 7,723.55 on Wednesday, while the Dow rose 0.5% to 54,349.12 and the Nasdaq composite lost 0.8% to 26,363.44. CNBC separately reported that the Dow gained 263.24 points, or 0.49%, for a record close and its fifth straight positive day, while the S&P 500 fell 0.17% and snapped a four-day winning streak. The different snapshots reflect two consecutive sessions of market churn rather than a single clean trend.

Why it matters

The move matters because it shows how the market’s recent advance is no longer being driven uniformly by the mega-cap complex. Instead, earnings reactions in semiconductors and memory hardware are now strong enough to pull on index futures and shift sentiment for the broader tape.

Reuters’ U.S. market headlines and the live coverage from CNBC both framed the latest action as a pause, not a reversal, with investors still focused on corporate earnings and the path of commodity prices. AP’s market wrap also noted that oil prices were part of the pressure on stocks on Wednesday, adding another macro headwind to an already earnings-heavy week.

What to watch

  • Whether SNDK and WDC stabilize after their post-earnings selloff.
  • If the S&P 500 can hold near record territory after Wednesday’s pullback.
  • Whether the next earnings batch broadens leadership beyond the names that have been carrying the market.

Tickers

SNDKWDC

Sources