Huo Xing Finance reports: On July 23, overnight and into this morning, tensions between the U.S. and Iran showed no signs of easing, with both sides exchanging strong rhetoric and emphasizing their respective red lines. Trump stated that whenever Iran fires upon vessels in the Strait of Hormuz, the U.S. will bomb and destroy an Iranian bridge or power plant. The U.S. does not need the Strait of Hormuz or oil production cooperation with Venezuela. Iran responded by saying, “If Iran cannot sell oil, no other country should be able to either; if Iran’s security is not guaranteed, no infrastructure anywhere will be safe.” As a result, U.S. equities came under pressure, but losses were limited. According to market data, the S&P 500 fell 0.1%, the Nasdaq dropped 0.57%, and the Dow Jones Industrial Average remained largely flat. Meanwhile, WTI crude oil futures rose nearly 3%, reaching a six-week high. According to BIT (bit.com) market data, among individual stocks, Meta fell over 2%, leading losses among the Big Tech seven. SpaceX dropped more than 6%, hitting a new low since its listing. Chip stocks were mixed; the Philadelphia Semiconductor Index rose 0.44%. NVIDIA gained 2.3%, Micron fell 1.17%, and memory stocks generally rose, with STX and WDC both up over 1%. Bank stocks mostly advanced, and energy stocks rose broadly. After hours, Alphabet reported better-than-expected earnings, with revenue growth accompanied by a sharp increase in capital expenditure guidance. Despite this, Alphabet’s stock fell over 4% in after-hours trading, while AI infrastructure stocks surged: CoreWeave rose 3.7%, SanDisk gained 3%, and Micron climbed 2.9%. Additionally, Tesla’s Q2 revenue surged 26% but profit declined 18%, significantly missing expectations. The company emphasized it is in its largest investment phase, with free cash flow turning negative for the first time in two years—though still better than expected. After hours, Tesla’s stock dropped nearly 4%. It reaffirmed its full-year capital expenditure target of over $25 billion and projected growth over the next two to three years.
U.S.-Iran tensions escalate, oil reaches six-week high, Google earnings drive after-hours movement
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Summary
U.S.-Iran tensions escalated on July 23, pushing WTI crude to a six-week high and sending ripples through global markets. On-chain data revealed increased activity in altcoins as investors adjusted their risk exposure. The S&P 500 slipped 0.1%, while the Nasdaq declined 0.57%. Meta shares dropped over 2%, and Alphabet shares fell more than 4% in after-hours trading despite a strong earnings report.
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