| 📊 Alain’s Holdings — July 22, 2026 | ||||
|---|---|---|---|---|
| Symbol | Name | Price | Change | Change % |
| VOO | Vanguard S&P 500 ETF | 687.03 | -0.78 | -0.11% |
| QQQ | Invesco QQQ Trust | 705.35 | -3.62 | -0.51% |
| XIU.TO | iShares S&P/TSX 60 ETF | 52.83 | +0.08 | +0.15% |
Wall Street paused Wednesday as investors took a wait-and-see approach ahead of earnings from Alphabet and Tesla, the first members of the “Magnificent Seven” to report this earnings season.
The S&P 500 slipped 0.1%, the Nasdaq Composite fell 0.5%, while the Dow Jones Industrial Average finished roughly unchanged, ending a strong two-day rally.
Markets are entering a critical phase.
For months, investors have rewarded companies for spending aggressively on artificial intelligence.
Now they want proof that those investments are generating real profits.
Alphabet and Tesla Take Center Stage
After the closing bell, all eyes turned to Alphabet and Tesla.
For Alphabet, investors are looking beyond advertising revenue.
The key question is whether Google’s AI products are beginning to generate meaningful returns that justify the company’s enormous capital expenditures.
Tesla faces a different challenge.
Investors will closely examine capital spending on autonomous driving, robotics, and AI infrastructure while looking for signs that the next phase of the company’s growth strategy is beginning to take shape.
The results from these two companies could influence the direction of technology stocks for weeks to come.
AI Infrastructure Still Shows Strength
One bright spot came from Super Micro Computer (Supermicro).
The AI server manufacturer reported a record backlog, sending its shares sharply higher and reinforcing the view that demand for AI infrastructure remains robust.
The contrast is becoming increasingly clear.
Companies selling the “picks and shovels” of the AI revolution continue to see strong demand.
Investors now want to know whether the companies buying all that infrastructure can generate equally impressive profits.
Tariffs and Oil Remain in Focus
Markets also continued monitoring global developments.
President Trump signaled additional permanent tariffs may replace the temporary trade measures currently in place, including a proposed 100% tariff on imported generic drugs. Meanwhile, new tariffs targeting Brazil officially took effect.
Oil prices also moved higher as the conflict between the United States and Iran entered its 11th consecutive day of airstrikes.
Although energy prices remain elevated, investors appear increasingly focused on earnings rather than geopolitics.
The Bottom Line
Today’s market wasn’t about what happened.
It was about what comes next.
Alphabet.
Tesla.
IBM.
These earnings reports will provide some of the clearest evidence yet regarding whether artificial intelligence is becoming a profit engine—or remains primarily a massive investment story.
The next few days may define the market’s direction for the remainder of the summer.
Other Stock Market blog posts
Leave a Reply