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US stocks pared initial losses on Wednesday as investors looked ahead to earnings from Alphabet (GOOG) and Tesla (TSLA) after the market close, while fresh tariffs and rising oil prices remained in focus.
The Dow Jones Industrial Average (^DJI) turned higher, rising 0.3%, and the S&P 500 (^GSPC) hovered near the flat line.
The tech-heavy Nasdaq Composite (^IXIC) sank 0.3%, leading the retreat from awinning day on Wall Street the day before.
A tech recovery faces its next test later Wednesday whenAlphabetand Tesla post second quarter results, the first two of the "Magnificent Seven" megacaps to report.
Investors are weighing whether Google's AI monetization efforts justify surging spending on AI.
Alleyes will be on Tesla's capex, too, as the Elon Musk-led company vaults into its next phase of automation.
Among the other notable earnings, Supermicro (SMCI)shares surgedafter the AI server maker reported a record backlog.
IBM (IBM) is also scheduled to report Q2 results after apre-earnings warningcaused a brutal stock drop last week.
The power and electrification giant GE Vernova (GEV) reported revenue above expectations and a steadily growing order book but missed on earnings per share.
In trade news, President Trump appears ready to replaceexpiring 10% global tariffswith more permanent duties, including a potential100% tariffon imported generic drugs.
A new 25%tariff targeting Brazilcame into effect on Wednesday.
Oil prices also continued to rise as the US began its 11th straight night of airstrikes against Iran.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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