Top Pros' Top Picks 7/17/26

Market Minute ⏱️ 7/17/26: Semis Extend $3.3 TLN Slide

Mike Larson | Editor-in-Chief

Stocks are under pressure to close out the week, with tech names leading the way lower. Crude oil prices are higher, while gold and silver are weaker and Treasuries are climbing.

It’s chaos in the chip sector…again! Semiconductor stocks sold off in Asia overnight, and that is spilling over into US markets this morning. The iShares Semiconductor ETF (SOXX) has now lost 7.6% in five days, while SK Hynix Inc.’s (SKHY) newly minted US American Depository Receipts (ADRs) have shed 11%. Some highflyers like Sandisk Corp. (SNDK) have performed even worse, down 22.2%.

SOXX, SKHY, SNDK (5-Day % Change)

I covered why this sector is so important in my Chart of the Day column. Suffice it to say that chips are key to the tech sector, which is a big driver of overall market performance. Globally, chip stocks have shed about $3.3 trillion in market value since late June.

Meanwhile, bonds sold by big-spending hyperscalers are performing poorly. Companies like Alphabet Inc. (GOOGL), Meta Platforms Inc. (META), and Oracle Corp. (ORCL) have sold more than $300 billion in debt since the start of 2025. That includes US dollar-denominated bonds plus bonds sold in currencies like the euro and Japanese yen. Many of those have declined in price, with yield “spreads” to underlying Treasuries increasing – signs of growing concerns about credit quality.

Lastly, newly public SpaceX (SPCX) was forced to scrub a Starship test flight yesterday after an engine start failure. The company has tested the world's largest and most powerful rocket 12 previous times, but this is the first planned test since its Initial Public Offering (IPO) last month. SpaceX stock dipped on the news, after losing 21.6% since the start of July.

Editor’s Note: I’ll be on-site hosting the 2026 MoneyShow Masters Symposium Las Vegas or traveling through Thursday, July 23. My Market Minute column will resume on Friday, July 24. In the meantime, look for a series of newsletters next week featuring picks from our hot-off-the-press special report The 2026 “Championship Portfolio”: 12 Winning Investment Ideas for YOU!

Video Market Minute: What $3.3 TLN Chip Stock Selloff Means for YOU

• CFG: Outperforming the Financial Sector Thanks to Strong Earnings Growth
  👉️ TICKERS: ^SPX, CFG
  Its earnings season again! That’s a good thing. Earnings just might save the day in an otherwise confusing and uncertain market. Meanwhile, Citizens Financial Group, Inc. (CFG) is a regional bank I like. Its stock just soared to a new 52-week high, notes Tom Hutchinson, editor of Cabot Income Advisor.

• GOOGL: What Dow Inclusion Means for the Stock – and Markets
  👉️ TICKERS: VZ, GOOGL
  A recent change in the composition of the Dow Jones Industrial Average (DJIA), often referred to as the Dow, is likely to significantly alter the average’s future returns. On June 29, Alphabet Inc. (GOOGL) replaced Verizon Communications Inc. (VZ) as a component of the average, explains Bob Carlson, editor of Retirement Watch.

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📉 💰 IBM Just Had the Worst Day in Its History. Here's How to Get Paid to Buy the Dip. (Barchart)