Energy and Industrials Rally While Semiconductors Stumble in Choppy Week

2026-08-01 · Money Checkup market briefing

The week's biggest split was between big-cap tech's steady grind higher and a semiconductor sector that fell off a cliff. While the Nasdaq Composite led major indices with a +1.00% gain, the 60-company semiconductor group — home to names like Nvidia, Broadcom, and Micron — dropped an average of -19.3%. That's a striking disconnect and a reminder that headline index moves don't always tell you what's happening underneath the surface.

On the broader index front, it was a decent week for large caps and a soft one for small caps. The S&P 500 added 0.70% to close at 7489.72, and the Dow Jones rose 0.53% to 52485.03. The Nasdaq's 1.00% gain paced the group. The Russell 2000, however, slipped -0.50% to 2931.34, suggesting smaller companies didn't share in the same enthusiasm as their larger counterparts this week.

Individual stock moves were dramatic in both directions. Bausch Health Companies (BHC) topped the gainers list with a +55.5% jump, followed by Forte Biosciences (+39.8%) and MarketAxess Holdings (+39.1%). Consulting and enterprise-software names also had a strong week — Huron Consulting (+35.1%), TechTarget (+32.1%), and Blackbaud (+30.8%) all posted big gains. On the flip side, the losers list was brutal: Airwa Inc. (YYAI) collapsed -98.9%, Capricor Therapeutics fell -80.5%, and Karyopharm Therapeutics dropped -74.1%. Several biotech and clinical-stage names — MapLight Therapeutics, BioAge Labs, Indaptus Therapeutics, and Myriad Genetics — also posted losses in the 49-65% range, underscoring how volatile small-cap biotech can be in a single week.

At the industry level, the story was energy and old-economy strength versus tech weakness. Integrated oil companies led everything with a +20.7% average return across 8 names including Chevron, ConocoPhillips, and Valero. Paper (+13.9%), retail-auto dealers and gas stations (+11.8%), professional services (+9.6%), and oil and gas field machinery (+9.2%) rounded out the top five. On the losing side, besides semiconductors, water/sewer/pipeline construction fell -19.6% across 6 companies, "other metals and minerals" dropped -19.9% (driven by enCore Energy), blank-check companies fell -17.7%, and tobacco (represented by Turning Point Brands) declined -14.6%.

On the filings front, six companies filed annual reports this week. Immersion Corp (IMMR) stood out with a Health Score of 80.7, the strongest of the group, while Worthington Steel (WS) also posted a solid 72.9. Microsoft (MSFT), Darden Restaurants (DRI), Scholastic (SCHL), and Neogen (NEOG) filed their 10-Ks with Health Scores in the 50-56 range. Separately, five companies remain flagged with going-concern audit notes, meaning their auditors have expressed substantial doubt about their ability to continue operating: Prospect Capital Corp (PSEC), Entrada Therapeutics (TRDA), FS KKR Capital Corp (FSK), New Mountain Finance Corp (NMFC), and Bain Capital Specialty Finance (BCSF) — all business development companies or specialty finance names worth watching if you hold exposure there.

Weeks like this one — where a handful of stocks move 30-90% in either direction and entire sectors diverge by 30+ percentage points — are exactly why looking past the headline index number matters. If you want to see how individual names stack up on quality and financial health rather than just short-term price swings, Money Checkup's screener and Health Score tools let you dig into the numbers behind moves like these.

Not investment advice. Data and analysis only.