Stock market today: Dow, S&P 500, Nasdaq diverge with Alphabet, Tesla earnings on deck - Yahoo! Finance Canada

What the report says

Yahoo Finance reported that U.S. stocks ended lower on Wednesday, July 22, 2026, as investors waited for quarterly results from Alphabet and Tesla and watched oil prices and tariff developments. The Dow Jones Industrial Average finished slightly below unchanged, the S&P 500 declined 0.1%, and the Nasdaq Composite fell 0.5%, making technology shares the weakest of the major indexes after gains in the prior session.

The report framed Alphabet and Tesla’s second-quarter earnings as an early test for the market’s artificial-intelligence-driven rally because they were the first two “Magnificent Seven” megacap companies to report. Alphabet shares moved lower in after-hours trading even after what Yahoo described as a strong quarter, with investors reacting negatively to the company’s plans for higher capital spending. Tesla’s spending plans were also in focus as the Elon Musk-led automaker expands further into automation.

Other earnings drew attention as well. Supermicro shares rose after the AI server company reported a record backlog, while IBM posted second-quarter results following a pre-earnings warning that had weighed sharply on its stock the previous week.

Beyond earnings, Yahoo reported that trade and geopolitical concerns added pressure. President Trump was described as preparing to replace expiring 10% global tariffs with more lasting duties, including a possible 100% tariff on imported generic drugs, while a 25% tariff on Brazil took effect Wednesday. Oil prices continued rising as the U.S. carried out an 11th straight night of airstrikes against Iran; Defense Secretary Pete Hegseth told Congress the war had cost $37.5 billion so far.