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Live Nasdaq Composite: Stocks Sink on Worrisome Q2 Tech Earnings, Oil Retakes $100
Quick Read
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Stocks sank as Brent Crude retook $100, Treasury yields hit their highest since January 2025, and Big Tech earnings disappointed across the board.
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Alphabet (GOOGL) dropped 5% on a massive capex forecast, while Tesla (TSLA) slid 8% after missing Q2 and posting negative free cash flow.
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Initial jobless claims fell to a record 187,000, beating the 210,000 estimate and offering investors a rare bright spot in a brutal session.
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Live Updates
Jobless Claims Signal Strong Labor Market
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Initial jobless claims fell to 187,000 versus 210,000 expected, marking the lowest level on record and giving investors one strong labor-market data point in a rough tape.
This article will be updated throughout the day, so check back often for more daily updates.
Stocks are under pressure as investors faced a rough three-part setup: hotter oil, higher yields, and an uneven read from Big Tech earnings. Nasdaq-100 futures dropped 1.5%, with tech set to take the hardest hit. Dow futures fell 601 points, or 1.2%, while S&P 500 futures lost 1.1%. The Brent Crude oil price is trading back at approximately $100/barrel.
The macro pressure came from the Middle East. Oil prices jumped after Yemen’s Tehran-backed Houthi militants claimed attacks on two Saudi tankers in the Red Sea. Prices climbed again after President Donald Trump threatened to bomb Iranian infrastructure. Treasury yields moved higher alongside crude, with the 10-year yield reaching its highest level since January 2025.
Earnings did not give bulls much cover. Alphabet (Nasdaq: GOOGL) fell 5% after lifting its 2026 capex forecast to as much as $205 billion, a sign that AI demand remains strong but increasingly expensive to deliver. And that what continues to worry investors. Tesla (Nasdaq: TSLA) slid more than 8% after a sharp second-quarter earnings miss, with operating expenses rising faster than revenue. The result is a market still willing to believe in AI, but less willing to ignore the price tag.
Here’s a look at where things stand as of pre-morning trading:
Dow Futures: 51,809 Down 1.2%
Nasdaq 100 Futures: 28,723 Down 1.5%
S&P Futures: 7,458 Down 1.09%
Market Movers
Alphabet fell after raising its 2026 capex outlook, with AI spending back in focus. Google also faced fresh pressure after the European Commission fined it €890 million over Digital Markets Act breaches. Google parent Alphabet said it holds roughly $94 billion worth of SpaceX stock, giving the Google parent a massive private-market stake tied to satellites, launch, and the broader Musk ecosystem.
Susquehanna raised its SanDisk (Nasdaq: SNDK) price target to $3,250 from $3,050 and kept a Positive rating ahead of earnings on August 5 and analyst day on August 13.
Tesla missed Q2 profit estimates and posted negative free cash flow for the first time in more than two years as spending accelerated around AI, robotics, and related infrastructure.
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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