Midday Fly By: Alphabet boosts spending, IBM reports downbeat Q2
The major averages were sharply lower near noon as investors digest the first wave of megacap technology earnings, with concerns over accelerating artificial intelligence spending outweighing otherwise solid quarterly results. Meanwhile, Treasury yields and oil prices are climbing, adding pressure to equity markets. Oil prices are surging after Yemen's Iran-backed Houthi militant group claimed attacks on two Saudi Arabian tankers in the Red Sea, fueling worries about further conflict in the Middle East. U.S. President Donald Trump has threatened to bomb Iran infrastructure following the event and said he is seriously considering restarting major combat operations in Iran, including a "massive attack" that would be bigger than the ones previously carried out. Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1. STOCK NEWS: Alphabet (GOOGL) reported better-than-expected Q2 results, but slid after it also raised its FY26 capex guidance Tesla (TSLA) reported mixed Q2 results and maintained its FY26 capex guidance IBM (IBM) reported downbeat Q2 revenue and cut its FY26 revenue growth outlook amid weakness in infrastructure revenue CSX (CSX).
The major averages were sharply lower near noon as investors digest the first wave of megacap technology earnings, with concerns over accelerating artificial intelligence spending outweighing otherwise solid quarterly results.
Meanwhile, Treasury yields and oil prices are climbing, adding pressure to equity markets.
Oil prices are surging after Yemen's Iran-backed Houthi militant group claimed attacks on two Saudi Arabian tankers in the Red Sea, fueling worries about further conflict in the Middle East.
U.S.
President Donald Trump has threatened to bomb Iran infrastructure following the event and said he is seriously considering restarting major combat operations in Iran, including a "massive attack" that would be bigger than the ones previously carried out.
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1.
STOCK NEWS: Alphabet (GOOGL) reported better-than-expected Q2 results, but slid after it also raised its FY26 capex guidance Tesla (TSLA) reported mixed Q2 results and maintained its FY26 capex guidance IBM (IBM) reported downbeat Q2 revenue and cut its FY26 revenue growth outlook amid weakness in infrastructure revenue CSX (CSX).