---
title: "Alphabet falls more than 6% as oil surge lifts yields"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/293655688.md"
description: "Alphabet fell over 6% due to negative Q2 free cash flow and raised capex guidance, amid broader market pullbacks driven by surging oil prices and rising Treasury yields. The 10-year yield hit 4.70%, increasing expectations for a September Fed rate hike. Meanwhile, Eli Lilly reported positive late-stage trial results for its obesity drug retatrutide, with FDA submission planned for early 2027."
datetime: "2026-07-23T18:40:05.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/293655688.md)
  - [en](https://longbridge.com/en/news/293655688.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/293655688.md)
---

# Alphabet falls more than 6% as oil surge lifts yields

According to CNBC, stocks pulled back Thursday as rising oil prices pushed the U.S. benchmark WTI crude back above $90 a barrel, international benchmark Brent above $100 a barrel and the 10-year Treasury yield to 4.70%, its highest level since January 2025. The market now sees about an 83% chance the Federal Reserve will hike rates in September, up from 53% a week ago, according to the CME FedWatch tool. Alphabet dropped more than 6% and was on pace for its worst day of the year after it reported negative free cash flow in the second quarter and raised its full-year capital expenditure outlook. Eli Lilly said retatrutide produced positive results in two late-stage trials, and the company plans to submit the obesity drug for approval to the Food and Drug Administration in the first quarter of 2027 through a Biologics License Application. Intel is due to report after the closing bell, followed Friday morning by earnings from American Express, Verizon, Charter Communications, SLB and HCA Healthcare.

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