Stock Futures Fall as Middle East Conflict Continues; Google Earnings in Focus
Complete. Here is the key summaryU.S. stock futures declined as Middle East tensions weighed on sentiment, with oil prices rising due to strikes on Iranian targets. Alphabet leads Big Tech earnings reports, drawing investor focus on AI-driven cloud spending and H2 outlooks. Other key reporters include ServiceNow, Tesla, IBM, AT&T, and Southwest Airlines.
U.S. stock futures fell ahead of Wednesday's session as the ongoing Middle East conflict weighed on investor sentiment. Alphabet (GOOGL) takes center stage today as the first Big Tech company to report earnings this season.
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Futures on the Nasdaq 100 (NDX), the S&P 500 Index (SPX), and the Dow Jones Industrial Average (DJIA) were down 0.48%, 0.15%, and 0.07%, respectively, at 1:38 a.m. EDT on July 22.
Oil prices rose early Wednesday as the U.S. continued striking Iranian military targets for the 11th straight night, raising concerns about potential disruptions to global oil supplies. At the time of writing, Brent crude (CM:BZ) was up 0.52% at $91.96 a barrel, while WTI crude (CM:CL) rose 0.99% to $85.88 a barrel.
During Tuesday's regular trading session, major U.S. indices rebounded after three consecutive days of losses, led by a strong rally in chip stocks. The Nasdaq gained 1.29%, while the S&P 500 and the Dow Jones Industrial Average advanced 0.89% and 0.74%, respectively.
On the earnings front, Alphabet (GOOGL), ServiceNow (NOW), Tesla (TSLA), IBM (IBM), AT&T (T), and Southwest Airlines (LUV) are scheduled to report results today.
Investors will be watching for signs that strong AI demand is translating into higher cloud spending and continued capital investments. They will also focus on companies' outlook for the second half of the year.