Broad market stocks finished a volatile month little changed with the S&P 500 capping its first winning week of the month, ending July just 0.06% in the red. Reflecting a deep pullback in Big Tech stocks however, the Nasdaq 100 Index tumbled 6.59% in July, its worst month since March 2025 as investors questioned whether the AI-investment boom will translate into reciprocal profits. Combined, the four-largest Big Tech firms have announced over $2.4 Trillion in future AI capex spending plans.