Stock Market Stays Near Its Peak—But Relies Heavily on Tech

The S&P 500, a basket of 500 big U.S. companies, stayed near its June high despite a political shock on July 8, 2026. Oil prices spiked on supply worries, then fell back as technology stocks rebounded. The market's strength depends almost entirely on semiconductor companies. If a future crisis hits when tech stocks weaken, the whole index could fall sharply.