Market Briefing — July 29, 2026

The Fed holds at 3.63% today, but the real story is what surrounds that pause: the 10-year yield has drifted down 4 basis points even as it sits 10 basis points higher over the past week, and Meta enters earnings tonight carrying its longest losing streak on record — a genuinely unusual setup for one of the market's most-watched prints.

Elsewhere, signals fragment. Lucid surged 21.5% after a billionaire investor took a sizable stake — a single-buyer event, not a sector call. Enphase Energy reported a decline in Q2 income, adding pressure to a solar space already navigating rate sensitivity. Seagate beat expectations and rallied after hours, offering a rare clean positive for the battered AI-adjacent trade. Taiwan and South Korea remain under selling pressure, down 5.2% and sliding respectively, keeping chip sentiment uneasy. The Meta print after the close is the day's real pivot point.