U.S. markets closed broadly lower on Thursday, July 16, 2026, with a decisive risk‑off tone as investors rotated out of high‑beta growth and precious metals while volatility climbed.Market close: indices and risk sentimentThe S&P 500 (^GSPC) finished at 7,533.77, down 38.63 points or 0.51%, while the Dow Jones Industrial Average (^DJI) slipped to 52,552.97, a loss of 105.67 points or 0.20%. The Nasdaq Composite (^IXIC) led the downside, falling 387.28 points or 1.47% to 25,881.95, as profit‑taking hit semiconductor and AI‑linked leaders following a powerful year‑to‑date rally.Small‑cap equities were more resilient but still in the red, with the Russell 2000 (^RUT) closing at 2,974.57, off 1.69 points or 0.06%, highlighting modest de‑risking rather than wholesale capitulation in domestically focused names. The Cboe Volatility Index (VIX) jumped to 16.73, up 1.06 points or 6.76%, signaling a meaningful bid for downside protection as investors recalibrated positioning around earnings, inflation data, and Federal Reserve policy expectations.Macro and cross‑asset toneThe day’s weakness came against a backdrop of mixed but generally cooler producer‑price inflation, which has supported the “higher for longer, but done hiking” narrative even as near‑term growth and valuation concerns weigh on richly priced tech and chip names. Gold futures, a traditional safe‑haven asset, did not benefit from the equity pullback; instead, gold settled at 3,979.90, down 71.90 or 1.77%, underscoring the idea that today’s move was more about equity‑specific positioning than a broad flight to safety.In credit and rates, easing Treasury yields remain supportive of quality cyclicals and select financials, but the combination of rising VIX, weaker Nasdaq, and falling gold prices paints a picture of investors trimming risk exposure ahead of upcoming data and earnings catalysts rather than making a directional macro call.Earnings and sector narrativeThe sell‑off in the Nasdaq coincided with heightened focus on technology and communication‑services earnings, headlined by Netflix’s (NFLX) second‑quarter 2026 release, where investors are scrutinizing ad‑tier adoption, global subscriber trends, and margin durability. Semiconductor and AI infrastructure plays, represented by vehicles such as the iShares Semiconductor ETF (SOXX) and Invesco QQQ Trust (QQQ), faced pressure as traders reassessed premium multiples against a cooling but still restrictive macro backdrop.At the same time, breadth within the S&P 500 (SPY) remains bifurcated, with several constituents printing fresh 52‑week highs on strong execution while a smaller cohort sinks to lows, emphasizing that stock‑picking and narrative differentiation are critical in this environment.  

VP Watchlist Updates

Amwell® (NYSE: AMWL)

Amwell® (NYSE: AMWL) a leading provider of a comprehensive SaaS-based software platform for technology-enabled healthcare, closed at $10.95.

Hudson Pacific Properties (NYSE: HPP)

Hudson Pacific Properties (NYSE: HPP, $16.09, +3.61%) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific’s unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space.

Eupraxia Pharmaceuticals Inc. (EPRX)

Eupraxia Pharmaceuticals Inc. (EPRX, $6.16 ) a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology designed to optimize local, controlled drug delivery for applications with significant unmet need, announced (July 7) the appointment of Robert Bazemore, Amy Pottand Dr Helen Thackray to the Board of Directors. “We are delighted for Robert, Amy and Helen to join our Board of Directors at a pivotal stage for the company.”   said Dr. James A. Helliwell, Chief Executive Officer of Eupraxia. “Their collective expertise across late-stage drug development, commercial strategy, and global product launches will be invaluable as we execute on several key upcoming milestones for EP-104GI and continue to expand our pipeline. Their appointments reflect the commitment of Eupraxia to advancing and expanding our gastroenterology assets in an efficient and effective manner. I also want to thank Paul Geyer and Michael Wilmink for all of the support and contributions they have made to Eupraxia over the last decade as we proved the function and potential of the Diffusphere technology.”

Eupraxia announced (May 5) the first Eosinophilic Esophagitis Endoscopic Reference Score (EREFS) data from its ongoing Phase 1b/2a part of the RESOLVE trial evaluating EP-104GI for the treatment of eosinophilic esophagitis (“EoE”). These data were also presented at the ongoing Digestive Disease Week (“DDW”) conference in Chicago. “The EREFS is an important, validated visual index of severity of EoE disease in the esophagus of patients. It measures edema, rings and strictures and other visible markers of disease often associated with symptoms. Today’s data demonstrated improvement in two key outcomes with EP-104GI in the treatment of EoE: first, that a full injection protocol of 20 injections resulted in more pronounced improvement than a protocol with fewer injections and less coverage area within the esophagus; second, with the higher number of injections, a consistent response in both the inflammatory and fibrotic sub scores of EREFS was observed,” said Dr. James A. Helliwell, Chief Executive Officer of Eupraxia. “This EREFS data being reported at DDW is consistent with the improvements we have seen in EoE symptoms and tissue health (EoEHSS) and suggests improvement in inflammation, fibrosis and the associated narrowing of the esophagus.”

Modular Medical, Inc. (NASDAQ: MODD)

Modular Medical, Inc. (NASDAQ: MODD, $3.24), a leader in innovative, patient-centric insulin delivery, released findings (July 15) from an independent market research study demonstrating positive receptivity to its FDA-cleared Pivot™ tubeless patch pump due to its differentiated design, streamlined user experience, and potential for reimbursement through the pharmacy channel.

Modular Medical announced (July 14) announced positive findings from a new comprehensive diabetes patient research initiative further supporting its commercialization strategy. The Company will share these findings and showcase its Pivot™ tubeless insulin patch pump at the upcoming Association of Diabetes Care & Education Specialists (ADCES) Annual Conference in Columbus, Ohio, August 7-10, 2026. Key findings from the assessment of 100 individuals utilizing multiple daily injections revealed significant unmet needs and strong interest in simplified insulin pump technology: 1) 97% of participants stated they would be interested in insulin pump therapy and expressed openness to alternative treatment options, 2) Among the 43% of participants who reported being hospitalized due to hyperglycemia, hypoglycemia, diabetic ketoacidosis (DKA), or hyperosmolar hyperglycemic state (HHS), nearly half reported experiencing such events two or more times annually, & 3) 55% of participants reported finding themselves in environments that were not convenient or private for administering insulin injections at least twice per week, while 31% experienced these situations more than four times per week.

Modular Medical (June 30) announced that the first patients have completed onboarding and training and are now actively using the Pivot™ tubeless insulin patch pump in real-world settings. This milestone marks the transition of the Pivot pump from development into active patient use and represents a significant step in Modular Medical’s commercialization strategy. The Company will now begin collecting real world utilization data and user feedback to support broader adoption and continued product deployment optimization.

MODD announced ( June 26) that the Pivot™ tubeless insulin patch pump is now shipping to physician offices for training. Upon completion of training, these pumps will be presented to potential patients in the next few days and weeks. The Company intends to expand the roster of practices that offer Pivot over the coming months. This is another significant milestone in the deployment of Pivot. Modular Medical looks forward to updating the market when these first patients are using the pump to deliver insulin. The Pivot pump is purpose-built for adults with diabetes on daily injections who have faced cost, complexity, and usability barriers with traditional pump systems. This group represents an estimated 70% of insulin-dependent adults who remain on multiple daily injections, a multi-billion-dollar opportunity within the diabetes technology market.

MODD announced (June 24) that the Pivot™ tubeless insulin patch pump is now commercially available. This marks the start of real-world patient use, and the Company’s transition to a commercial-stage medical device company. As only the second fully electronic, tubeless insulin pump available in the United States, Pivot is designed to make pump therapy simpler to learn and easier to live with. Its removable two-part design and 3 mL reservoir, intuitive interface, and flexible, wearable form factor support everyday activities, such as showering and sports, with no battery recharging required – all while maintaining clinical accuracy and connectivity. “Reaching commercial availability is a transformational milestone that marks Modular Medical’s transition from a development-stage company to a revenue-generating commercial business,” said Jeb Besser, Chief Executive Officer of Modular Medical. “As only the second fully electronic tubeless pump on the U.S. market, Pivot is positioned to serve a large, underserved ‘almost-pumper’ population. With first shipments beginning this week, we are focused on disciplined execution, as we scale adoption and seek to build long-term value for patients and shareholders.”

Similarweb Ltd. (NYSE: SMWB)

Similarweb Ltd. (NYSE: SMWB, $7.05), a leading digital data and analytics company powering critical business decisions, announced (June 15) that it has surpassed $300 million in Annual Recurring Revenue (ARR)act 5-days and signed two multi-year enterprise contracts, each representing seven-figure ARR commitments. Collectively, these contracts represent approximately $47 million in Total Contract Value to be recognized over the next three years and were signed during the second quarter of 2026.

NVIDIA (NVDA)

NVIDIA (NVDA) closes at $207.40.

The InterGroup Corporation (NASDAQ: INTG)

The InterGroup Corporation (NASDAQ: INTG), a diversified holding company with interests in hospitality, real estate, and marketable securities. InterGroup consolidates its majority‑owned subsidiary Portsmouth Square, Inc., which owns the Hilton San Francisco Financial District hotel and related facilities, closed at $38.61, +1.07%.

LG Display Co., Ltd. (NYSE: LPL)

LG Display Co., Ltd. (NYSE: LPL, $3.38) has spent the last few years doing something many hardware companies talk about but few execute well: turning a technology pivot into a full‑blown business transformation that everyday investors can actually follow. Instead of chasing commoditized LCD TV panels in a race to the bottom, LPL is leaning into Gaming OLED, CES‑worthy innovation, and premium automotive displays – and the press trail tells a surprisingly investor‑friendly story.

Yatsen Group (NYSE: YSG)

Yatsen Group (NYSE: YSG, $3.70, +.82%), a world-class beauty innovation pioneer, announced (July 8) a landmark collaboration to bring its flagship brand, Perfect Diary, to Sephora in China. This partnership integrates Yatsen’s rigorous scientific infrastructure with the world’s leading prestige beauty retailer, marking a significant milestone in Yatsen’s continuing evolution into a global beauty technology powerhouse.

Doximity, Inc. (NYSE:DOCS)

Doximity (NYSE: DOCS, $22.21) is the leading digital platform for U.S. medical professionals. The company’s network members include more than 85% of U.S. physicians across all specialties and practice areas. Doximity provides its verified clinical membership with digital tools built for medicine, enabling them to collaborate with colleagues, stay current on medical news and research, manage their careers and on-call schedules, streamline documentation and administrative paperwork, and conduct virtual patient visits.

The Sources

1. CNBC – “Stock market today: Live updates” (July 15–16, 2026)
   https://www.cnbc.com/2026/07/15/stock-market-today-live-updates.html
2. CNBC – “Netflix (NFLX) earnings Q2 2026”
   https://www.cnbc.com/2026/07/16/netflix-nflx-earnings-q2-2026.html
3. Yahoo Finance – “Stock market today, Thursday July 16: Dow, S&P 500, Nasdaq, chip stocks slide”
   https://finance.yahoo.com/markets/live/stock-market-today-thursday-july-16-dow-sp-500-nasdaq-chip-stocks-slide-103116735.html
4. Globe and Mail – “Stock Market News for July 16, 2026”
   https://www.theglobeandmail.com/investing/markets/stocks/MS/pressreleases/3314969/stock-market-news-for-july-16-2026/
5. Investopedia – “5 Things to Know Before the Stock Market Opens on Thursday, July 16, 2026”
   https://www.investopedia.com/5-things-to-know-before-the-stock-market-opens-on-thursday-july-16-2026-12020417
6. Benzinga / Polymarket – “Stock Market: Will S&P 500 Open Up or Down Today? (July 16, 2026)”
   https://www.benzinga.com/markets/prediction-markets/26/07/60489078/sp500-july-16-open-up-or-down-polymarket-ppi-inflation-fed-re
7. Trefis – “7/15/2026 Market Summary: 24 S&P 500 Stocks Hit Highs”
   https://www.trefis.com/data/companies/%5ESPX/no-login-required/n7pcmzWJ/7-15-2026-Market-Summary-24-S-P-500-Stocks-Hit-Highs-
8. Trefis – “7/15/2026 Market Summary: 5 S&P 500 Stocks Hit Lows”
   https://www.trefis.com/data/companies/%5ESPX/no-login-required/fSGqxHxd/7-15-2026-Market-Summary-5-S-P-500-Stocks-Hit-Lows-
9. HDFC Sky – “Stock Market Close Report, July 16, 2026: Sensex, Nifty Finish Flat As IT, Consumer Durables Offset Financial Weakness”
   https://hdfcsky.com/news/stock-market-close-july-16-2026-sensex-nifty-flat-it-consumer-offset-financial-weakness