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Stocks Fall Friday, But Open Higher Monday on US/Iran Hopes — MPC Markets Morning Call, 27 July 2026

Wall Street's second straight weekly loss met three headwinds at once: Brent crude above $100 on Houthi attacks in the Red Sea, Alphabet's $205B capex guidance triggering the worst Mag Seven selloff since April 2025, and Trump's new tariffs on 60 economies. But Monday opens with cautious optimism — the US paused airstrikes on Iran after 13 consecutive nights, with Tehran signalling a reciprocal halt.

Mark covers the chip stock carnage (SOX's worst month since June 2022), why Intel fell 8% despite beating earnings, and how Apple's lean-capex strategy is being rewarded while the other hyperscalers burn cash. Plus: 30-year mortgage rates at 11-month highs, European gas up 40% in July, and the pivotal week ahead with the Fed, RBA, BoJ, BoE, and mega-cap earnings from Microsoft, Meta, Amazon, and Apple all landing mid-week.

General advice only. Visit mpcmarkets.com.au for more.