Wall Street Holds Its Breath as Tesla and Alphabet Earnings Loom; Oil Jumps 3% on Iran War Fears
Stocks drifted sideways on Tuesday as traders waited for key earnings reports from tech giants Alphabet and Tesla, while a sharp jump in oil prices added pressure on the market.
Wall Street moved in a narrow range on Tuesday, with major indexes showing little direction as investors waited for quarterly results from two of the world’s most valuable companies [202079]. The Dow Jones Industrial Average, the S&P 500, and the Nasdaq all traded between small gains and losses, reflecting a cautious mood ahead of the reports [202223][202079].
At the same time, oil prices surged sharply on concerns that the conflict with Iran could escalate [202210]. The rise in crude added pressure to markets already on edge [202223]. Bond yields also climbed, with the 30-year Treasury yield nearing its highest levels since 2026, which weighed on the tech-heavy Nasdaq [202111][202115].
Traders are now focused on earnings from Alphabet Inc., the parent company of Google, and Tesla Inc., the electric-vehicle maker led by Elon Musk [202223][202079]. Alphabet faces questions about its advertising revenue and heavy investments in artificial intelligence, while Tesla must show it can maintain profit margins amid price cuts and slowing demand [202079]. Both companies are set to report after the closing bell [202099].
Analysts say the market is in a "wait-and-see" mode until these two tech giants report their numbers [202079]. Any surprise—good or bad—could set the tone for the rest of the week [202079].