Wall Street opens split on Tuesday; the Dow rises on earnings while the Nasdaq falls as the chip selloff deepens

US equities opened split on Tuesday, 28 July 2026 (6 Mordad 1405). The Dow Jones Industrial Average rose on better than expected quarterly results, while the Nasdaq fell as the selloff in chipmaker shares deepened. The divergence repeats Monday 5 Mordad's pattern, when the Dow gained 0.51 percent and the Nasdaq Composite slipped 0.18 percent.

On the upside, Sherwin-Williams rose about 7 percent after second quarter results beat expectations and the company raised its full year guidance, leading the Dow. Coca-Cola gained about 2 percent after posting earnings per share of 97 cents against the 93 cents expected.

On the downside, the exchange traded fund tracking semiconductor shares (ticker SMH) fell between 3 and 4 percent, with memory makers including Micron and SanDisk among the heaviest decliners. The trigger was a steep drop in South Korean memory shares in Seoul; the Kospi index was halted the same day after an 8.02 percent fall. Concerns over "circular financing" in artificial intelligence deals, and the Shanghai listing of Chinese memory maker CXMT, have also weighed on expectations for memory prices.

Traders are at the same time waiting for the Federal Reserve's rate decision on Wednesday, 7 Mordad, and for quarterly results from the megacap technology companies later this week. These figures refer to Tuesday's session in progress and will change by the close.