SPX: S&P 500 Climbs to Fresh Record High Ahead of Alphabet, Tesla Earnings Updates

One session to go before these two bad boys step up and show the world how they fared in the second quarter. Expectations? Pretty high.

📈 S&P 500 Ticks Higher

• The S&P 500 inched up 0.06% to 6,309.62 on Tuesday, locking in its 11th record close of 2025 — just enough to keep the bulls on edge and pacing around as Wall Street braces for a mega earnings moment.
• The Dow rose 179 points, or 0.4%, helped by strength in industrials and banks. But the Nasdaq Composite slipped 0.4%, breaking its six-day win streak as traders rotated out of tech ahead of today’s main event: Alphabet and Tesla earnings.
• With nearly 90 S&P 500 companies already reporting and 85% beating estimates, the bar is high — and two of the “Magnificent Seven” are now up next to either propel or pressure the rally.

🔍 Spotlight on Google and Tesla

• Alphabet GOOGL reports Wednesday, with analysts eyeing $93.96 billion in revenue, up 11% from last year, and $2.18 EPS, up 15% from last year. The street wants clarity on cloud growth, ad recovery, and of course, how many AI buzzwords CEO Sundar Pichai can squeeze into a 10-minute opening.
• Tesla TSLA, meanwhile, faces a tougher crowd: expectations call for $22.28 billion in revenue, a 12.6% drop, and $0.40 EPS, a steep 23% drop. Investors want more than just numbers — they want updates on robo-taxis, bots, and Musk’s current sleep location.
• The two reports are expected to heavily influence overall earnings growth, and possibly determine the next leg for both the tech trade and the broader market.

🌍 Macro Uncertainty Clears

• Beyond earnings, traders are parsing the latest trade headlines. Trump’s August 1 tariff deadline on EU goods is fast approaching, and European leaders are still mulling retaliation. No resolution = potential market wobble.
• In a rare bright spot on the global map of negotiations, Japan managed to strike a deal with the US. Tariffs are getting a hefty reduction to 15% from the 25% initially floated. That is, under the condition that the fourth-largest economy will open its markets to American cars and rice.
• With just a few days before the deadline hits, traders and investors hold on to hopes of similar agreements with other big US trading partners.