Stock Market Today, July 22: Nasdaq Slides Prior to Tesla and Alphabet's Earnings After Market Close
Yahoo Finance ·
Falling 0.57% to 25,691, the Nasdaq Composite ( ^IXIC -0.57% ) led the market lower as rising oil prices pressured growth stocks, while the S&P 500 ( ^GSPC -0.14% ) slipped 0.13% to 7,499 and the Dow Jones Industrial Average ( ^DJI -0.01% ) finished nearly flat, down 0.01% to 52,219. Gold prices gained 1.49% to $4,137.10 as of U.S. market close and the 10-Year Treasury yield rose 0.03% to 4.63%, as the Utilities sector climbed while Communication Services and Healthcare shares finished lower. Super Micro Computer rocketed 26% on a record backlog, while AT&T smashed EPS expectations, sending its stock 4% higher. Elsewhere, Rocket Lab stock opened higher, but sold off to end the day largely flat after announcing a $266 million contract with the U.S. government for 12 suborbital launches. On the negative side, Reddit slipped 8% after a report suggested the company may limit Alphabet’s access to its massive trove of content for AI training. However, this is likely just posturing in hopes of negotiating a better licensing deal with the Magnificent Seven juggernaut. Now, the market’s attention is largely on Alphabet and Tesla after hours, as the two stocks just reported their second-quarter earnings. As of 5:45 p.m. ET, Alphabet stock was down 4%, and Tesla had dipped 5%. While Alphabet delivered sales growth of 24%, headlined by its cloud department’s revenue soaring 81%, free cash flow turned negative as operating cash flow was outweighed by $45 billion in capital expenditures during the quarter.
DYAX Investor Sentiment
Bullish (Long) 40% · Bearish (Short) 60%
424 participants
Related News
- Tesla Q2 Earnings Call Highlights
- Nvidia Just Revealed It Owns 9.3% of Nebius. The Stock Jumped Nearly 19% on Tuesday -- Here's What Nvidia Is Actually Buying.
- Iberdrola's Scottish Power plans £1.5B upgrade to largest U.K. onshore wind farm
- This 1 Momentum ETF Is Still Beating the S&P 500 With Lower Drawdowns
- Inside Alphabet's earnings call with Google CEO Sundar Pichai
- Why Constellation Energy Stock Blasted Higher on Wednesday
