U.S. equities extended gains on Tuesday, July 14, 2026, with growth and AI‑linked names leading as cooler‑than‑expected inflation data reinforced expectations that the Federal Reserve is inching closer to a 2026 rate‑cut cycle.
Index recap and closing levels
U.S. markets closed higher across the major benchmarks, with technology and growth stocks again outpacing cyclicals. The closing levels were:
- S&P 500: 7,543.59, up 28.25 points on the day.
- Dow 30 (Dow Jones Industrial Average): 52,508.27, up 9.63 points.
- Nasdaq Composite: 26,107.01, up 233.83 points.
- Russell 2000: 2,964.76, up 11.60 points.
Large‑cap growth and semiconductor names helped drive the outperformance of the Nasdaq, while small caps in the Russell 2000 participated but lagged mega‑cap tech.
Macro backdrop: June CPI, Fed narrative, and global signals
The July 14 release of June U.S. Consumer Price Index showed inflation cooling more than consensus, reinforcing a disinflation narrative and easing fears that the Fed would need to push policy rates higher or hold restrictive settings for longer. The Federal Reserve’s July 2026 Monetary Policy Report reiterated its focus on a 2% inflation target and “well‑anchored” longer‑term expectations, but the softer data strengthened market conviction that the next move is likely a cut rather than another hike, with futures implying growing odds of an initial 25 bp reduction later in 2026.
Globally, macro data were mixed: China’s latest trade figures pointed to a rebound in exports and imports, supporting the case for a stabilizing manufacturing cycle in Asia, while India’s June inflation accelerated on food and energy, underscoring regional divergence in price pressures. The IMF’s July 2026 World Economic Outlook update framed the environment as one of steady but uneven global growth, with AI‑driven investment and data‑center build‑outs providing a tailwind to technology‑heavy economies even as conflicts and energy shocks remain key downside risks.
Sector and thematic moves: AI, semis, and rate‑sensitives
Cooler inflation and a lower‑for‑longer rate narrative powered another leg of strength in AI and semiconductor themes, with chipmakers and infrastructure names leading the Nasdaq advance. AI‑linked megacaps and hyperscale cloud platforms continued to benefit from heavy capital spending on data centers and high‑performance compute, fueling demand for graphics processors, networking silicon, and power‑management solutions.
Rate‑sensitive areas—growth software, unprofitable tech, and longer‑duration assets—caught a bid as front‑end yields eased and investors rotated incrementally back into higher‑beta exposures. Conversely, some defensives and commodity‑linked plays underperformed as investors unwound prior hedges now that inflation appears to be on a more convincing downward glide path.
Investor takeaways
Today’s action reinforces several key portfolio‑construction themes. First, disinflation plus a data‑dependent Fed is a constructive backdrop for duration assets—growth, quality tech, and longer‑dated cash‑flow stories—especially those levered to secular AI, cloud, and automation demand. Second, the macro dispersion across regions argues for selective global exposure: Asia’s trade recovery and tech upcycle may complement U.S. AI leadership, while higher‑inflation geographies warrant tighter risk management and careful position sizing. Third, in biotech and med‑tech, the current environment favors companies with differentiated platforms, clear regulatory pathways, and the ability to access capital efficiently—traits that can help them navigate a still‑disciplined funding landscape. Against that backdrop, the S&P 500’s advance to 7,543.59 and Nasdaq’s surge to 26,107.01 signal that risk appetite remains intact, but the underlying macro narrative still demands disciplined security selection and ongoing scenario analysis as investors position for the next phase of the 2026 cycle.
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 $10.88, up 121.59% YTD.
Eupraxia Pharmaceuticals Inc. (EPRX)
Eupraxia Pharmaceuticals Inc. (EPRX, $6.34) 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, $4.21, +8.02%), a leader in innovative, patient-centric insulin delivery, announced today (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.”
On (June 4) the launch of PivotPump.com, a patient-focused website designed to support individuals seeking a simpler path to insulin pump therapy. This launch follows the Company’s receipt of U.S. Food and Drug Administration (“FDA”) clearance in April 2026 for its Pivot™ insulin delivery system. The FDA clearance represents a significant milestone in Modular Medical’s strategy to expand access to insulin pump technology, particularly among individuals historically underserved by existing solutions. The Company remains on track for commercial launch in the fall of 2026. Pivot is designed for people living with diabetes who rely on daily insulin injections, as well as those who have encountered technological, usability, or cost-related barriers with traditional pump systems. The system emphasizes simplicity and ease of use for the patient and full access to clinical information for the clinician to reduce adoption friction. The PivotPump.com website provides accessible, educational content on insulin pump therapy and highlights the Company’s focus on real-world usability and supporting patients in evaluating and adopting pump-based diabetes care.
Similarweb Ltd. (NYSE: SMWB)
Similarweb Ltd. (NYSE: SMWB, $6.60), 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 $211.80, +4.06%.
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 $39.84.
Twin Vee PowerCats Co. (VEEE) – corporate actions
In industrials and consumer‑adjacent names, Twin Vee PowerCats Co. (VEEE, $38.51, +54.91% today and +584.01% over the last 5-days) has remained active on the corporate actions front, with a series of moves aimed at strengthening its capital markets profile and improving long‑term flexibility. Recent disclosures highlight actions such as reverse stock splits to regain compliance with Nasdaq’s bid‑price requirements and a reincorporation to Nevada designed to enhance corporate flexibility and reduce costs over time. These steps reflect the broader trend of small‑cap and micro‑cap companies optimizing their corporate structure, listings, and capital access in response to tighter liquidity conditions and higher volatility. For investors, the Twin Vee story illustrates how tactical governance and listing decisions can be used to preserve market access while management pursues operational growth in niche recreational marine segments. Today, Twin Vee, a manufacturer, distributor and marketer of power sport boats, announced that it has entered into a definitive agreement for a transformative transaction that will combine a merger involving the publicly traded company with the concurrent privatization of its boating business under the brands Twin Vee and Bahama Boat Works.
SK hynix Inc. (SKHY)
SK hynix Inc. closed at $193.92, +27.29%. SK Hynix through its subsidiaries, engages in research, develops, manufactures, distributes, and sells semiconductor devices in Korea, China, rest of Asia, the United States, Europe, and internationally. It offers DRAM, such as server memory, graphics memory, mobile memory, PC memory, consumer memory; NAND flash memory; SSD; and MCP products. It also engages in foundry business, produces non-memory semiconductors. The company serves its products for server, networking, mobile, personal computer, consumer, and automotive applications. The company was formerly known as Hynix Semiconductor Inc. and changed its name to SK hynix Inc. in March 2012. SK hynix Inc. was incorporated in 1949 and is headquartered in Icheon-si, South Korea.
ChronoScale Corporation (NASDAQ: CHRN)
Shares of ChronoScale Corporation (NASDAQ: CHRN) closed at $23.01, +16.68%. ChronoScale is an accelerated compute platform purpose-built to support demanding artificial intelligence workloads. In June, ChronoScale announced the appointments of Raj Jegannathan as Chief Technology Officer and Lawrence Lam as Chief Product Officer.
The Sources
- Yahoo Finance – “Stock market today: Monday, July 13 – Dow, S&P 500, Nasdaq live updates”
https://finance.yahoo.com/markets/live/stock-market-today-monday-july-13-dow-sp-nasdaq-113249278.html - CNBC – “Stock market today: Live updates – July 12–13, 2026”
https://www.cnbc.com/2026/07/12/stock-market-today-live-updates.html - CNBC – “Trump says Iran should reimburse charges related to security in the Strait of Hormuz” (July 13, 2026)
https://www.cnbc.com/2026/07/13/trump-iran-hormuz-strait-charge-reimburse.html - Yahoo Finance – Healthcare: “Agenus announces oversubscribed private placement”
https://finance.yahoo.com/healthcare/articles/agenus-announces-oversubscribed-private-placement-100000154.html - SEC filing (StockTitan) – “[8-K] AGENUS INC reports material event”
https://www.stocktitan.net/sec-filings/AGEN/8-k-agenus-inc-reports-material-event-89d64bcf5da8.html - Twin Vee PowerCats Co. – Investor relations press releases
https://ir.twinvee.com/news-events/press-releases - Yahoo Finance – “Twin Vee PowerCats Co. announces corporate actions”
https://finance.yahoo.com/markets/stocks/articles/twin-vee-powercats-co-announces-123000071.html - Yahoo Finance – Media & Advertising: “Disney exiting streaming could spur industry shift”
https://finance.yahoo.com/media-advertising/articles/disney-exiting-streaming-could-spur-122433164.html - BlackRock Investment Institute – Weekly market commentary
https://www.blackrock.com/us/individual/insights/blackrock-investment-institute/weekly-commentary - Westpac IQ – Weekly Economic Commentary, July 13, 2026
https://www.westpaciq.com.au/economics/2026/07/weekly-economic-commentary-13-jul-2026 - Saxo – “Market Quick Take: Iran strikes rattle markets – 13 July 2026”
https://www.home.saxo/content/articles/macro/market-quick-take—iran-strikes-rattle-markets—13-july-2026-13072026 - Realtor.com – “Economic and Housing Market Outlook – July 13, 2026”
https://www.realtor.com/research/video-economic-and-housing-market-update-july-13-2026/ - Czapp – “Daily Market Price Updates and Commentary – 13th July 2026”
https://www.czapp.com/analyst-insights/daily-market-price-updates-and-commentary-13th-july-2026/ - World Gold Council – “Global gold‑backed ETF holdings and flows”
https://www.gold.org/goldhub/data/global-gold-backed-etf-holdings-and-flows - Edward Jones – Daily market snapshot
https://www.edwardjones.com/us-en/market-news-insights/stock-market-news/daily-market-recap
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