Alphabet and Intel earnings to steer US AI market sentiment
Big week ahead for US stocks: Alphabet and Intel are about to drop their latest earnings reports, and everyone's watching to see how they'll steer the ongoing AI hype.
Alphabet (yes, Google's parent company) announces results on July 22: Investors are especially curious if they'll ramp up spending on AI, since that could set the tone for the whole market.
Semiconductor stocks slide into bear market
Right after Alphabet, chip giants like Intel and Texas Instruments will share their numbers.
This matters because semiconductor stocks have been super volatile lately; the Philly Semiconductor Index just slid into bear market territory even after a huge rally earlier this year.
Meanwhile, more than 80 big S&P 500 companies (think Tesla and RTX) are also reporting earnings.
Even with global drama and rising energy prices making things bumpy, strong profit growth is keeping investor spirits up for now.