What to Expect in Markets This Week: Alphabet, Tesla and …

The content highlights major economic updates and earnings reports from significant companies as earnings season intensifies. Key stories include SpaceX's ongoing stock slump, rising mortgage rates near a yearly high, and trends regarding workforce participation beyond age 65. Notable upcoming events feature earnings announcements from companies like Alphabet (Google), Tesla, General Motors, and Intel. Alphabet has seen a positive market response, although concerns regarding profitability amid AI investments persist. The overall market faced losses, notably within the tech sector, due to various geopolitical tensions and economic shifts, particularly in the Middle East affecting oil prices.

Table of Contents

Expand

Table of Contents

Facade of a Google office building featuring reflective glass windows and signage

Alphabet, the parent company of Google, is slated to report second-quarter results this week. Beata Zawrzel / NurPhoto via Getty Images

Earnings season heats up this week, with Big Tech taking center stage.

Google and YouTube owner Alphabet is set to release its results weeks after announcing it was selling stock to finance the construction of AI data centers.1 The move divided investors: AI is spurring demand for Alphabet’s cloud business, but worries that building the technology could drag on profit as infrastructure depreciates have intensified.

Still, a number of developments have bolstered confidence in Alphabet, whose shares have roughly doubled in the past year. Consumers have embraced the company’s Gemini chatbot, though news reports saying that the Gemini 3.5 Pro model will be delayed weighed on investor sentiment late last week.2 Meanwhile, Alphabet has found a way to reduce how much memory AI uses, which could alleviate some of the pressures involved with acquiring components during a memory and data storage shortage.

Tesla’s results, like Alphabet’s, are due Wednesday.3 CEO Elon Musk has said he wants to shift the business beyond cars and into robots and AI. Tesla is tripling its capital expenditures as it leans into AI endeavors. Still, some believe Musk will eventually seek to merge Tesla and SpaceX, a space, communication and AI company he recently took public.

The Magnificent 7 members’ results come at a volatile time for the AI trade. SpaceX shares have dropped below their IPO price, and sharers of SK Hynix ( SKHY)—the world’s largest supplier of high-bandwidth memory— plunged days after debuting on the Nasdaq. Given the jitters, investors will be looking for more clues as to what might come next when ServiceNow reports Wednesday and Intel reports Thursday.45

Market Recap

The major stock indexes posted losses last week as shares of chipmakers fell sharply, while investors digested a flurry of earnings reports from major banks and several other noteworthy companies. The tech-heavy Nasdaq declined 2.9% last week, while the S&P 500 and Dow Jones Industrial Average shed 1.6% and 0.9%, respectively. Investors also kept close tabs on developments in the Middle East as fighting between the U.S. and Iran intensified, sending oil prices sharply higher and sparking concerns about potential economic consequences. (Read our coverage of Friday’s market action here.)

This Week’s Top Events

Here’s a rundown of top events this week. TradingView publishes a more detailed calendar, but clicking the link will take you off the Investopedia site.

Tuesday, July 21: General Motors ( GM) is set to release its second-quarter results at 6:30 a.m., and host a conference call at 8:30 a.m. ET.6 The automaker recently restructured its electric vehicle business in response to the expiration of a related tax credit.
Tuesday: Capital One Financial ( COF) is slated to publish its second-quarter results at 4:05 p.m. ET, followed by a conference call at 5 p.m. ET.7 The bank recently reached a $425 million settlement in a lawsuit over how it calculated interest rates on 360 Savings accounts. Capital One missed earnings expectations early this year.
Tuesday: Alaska Air Group ( ALK) is set to release its second-quarter results after the closing bell, followed by a conference call on Wednesday at 11:30 a.m. ET.8 Southwest Airlines ( LUV) and American Airlines Group ( AAL) also report this week and are scheduled to host conference calls on Thursday.910 Shares in air carriers dipped when Delta Air Lines ( DAL) released results earlier this month. Although Delta performed better than expected, fuel expenses climbed. Customers haven’t been deterred by higher ticket prices, according to airline executives, and less capacity industrywide may bolster shares.
Wednesday, July 22: AT&T ( T) is scheduled to release its second-quarter results before the stock market opens and host a conference call at 8:30 a.m. ET.11 The telecommunications company topped expectations last quarter. Some of its competitors will also publish results this week, including T-Mobile ( TMUS) and Verizon ( VZ).1213
Wednesday: Alphabet ( GOOG, GOOGL) is set to release its second-quarter results, followed by a conference call at 4:30 p.m. ET. The company beat expectations last quarter.
Wednesday: ServiceNow ( NOW) plans to release its second-quarter results after the stock market closes, and host a conference call at 5 p.m. ET.14 The company’s shares dipped last week when IBM told investors that clients were cutting software spending.
Wednesday: Tesla ( TSLA) is slated to publish its second-quarter numbers after the closing bell, and hold a live question-and-answer webcast at 5:30 p.m. ET.15 Tesla’s second-quarter deliveries beat estimates.
Wednesday: AMD ( AMD) will host a two-day conference in San Francisco, where it’s expected to showcase its latest AI chips.16 Some analysts think new partnerships or customers could also be announced.
Thursday, July 23: Albertsons Cos. ( ACI) is set to release its fiscal first-quarter results before the opening bell, and host a conference call at 8:30 a.m. ET.17 Consumers have been stretched and focused on reducing their grocery bill for months, according to supermarket operators.
Thursday: Comcast ( CMCSA) is scheduled to hold a conference call on its second-quarter results at 8:30 a.m. ET, with the figures expected shortly beforehand.18 The internet and cell service company recently announced plans to spin off NBCUniversal.
Thursday: Intel ( INTC) plans to publish its second-quarter results after the closing bell, and host a conference call at 5 p.m.19 Strong results and a bright outlook sent shares flying last quarter. Investors have also been cheering the chipmaker’s recent deals, including with Google and Musk’s Terafab project.
Friday, July 24: American Express ( AXP) plans to share its second-quarter results at 7 a.m. ET, followed by a live audio webcast at 8:30 a.m. ET.20 Executives sometimes share viewpoints on the health of the economy and the consumer in their earnings commentary.

More Investopedia Reads

The war with Iran isn’t the only reason fuel prices are rising, Diccon Hyatt reports. Elizabeth Guevara wrote on the most versatile college major for finding a job. Did you miss Fed Chair Kevin Warsh’s testimony before Congress? Here are five key takeaways from his appearance, Hyatt writes. And here, from Beverly Bird, is a New Hampshire mill city retirees may want to consider.

Do you have a news tip for Investopedia reporters? Please email us at

tips@investopedia.com

Article Sources

Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.

Alphabet. “ Alphabet Announces Date of Second Quarter 2026 Financial Results Conference Call.”
Bloomberg. “ Google Gemini Launch Delayed as Tech Falls Short of Internal Goals.”
Tesla. “ Tesla Second Quarter 2026 Production, Deliveries & Deployments.”
ServiceNow. “ ServiceNow to Announce Second Quarter 2026 Financial Results on July 22.”
Intel. “ Intel to Report Second-Quarter 2026 Financial Results.”
General Motors. “ GM Announces Second Quarter 2026 Earnings Conference Call Details.”
Capital One Financial. “ Capital One Financial Corporation to Webcast Conference Call on Second Quarter 2026 Earnings.”
Alaska Air Group. “ Alaska Air Group Announces Webcast of Second-Quarter 2026 Financial Results.”
Southwest Airlines. “ Southwest Airlines to Discuss Second Quarter 2026 Financial Results on July 23, 2026.”
American Airlines Group. “ American Airlines Group Announces Webcast of Second-Quarter 2026 Financial Results.”
AT&T. “ AT&T to Release Second-Quarter 2026 Earnings on July 22.”
T-Mobile. “ T-Mobile to Host Q2 2026 Earnings Call on July 23, 2026.”
Verizon. “ Verizon to Report Earnings July 24, 2026.”
ServiceNow. “ ServiceNow to Announce Second Quarter 2026 Financial Results on July 22.”
Tesla. “ Tesla Second Quarter 2026 Production, Deliveries & Deployments.”
AMD. “ AMD Advancing AI 2026.”
Albertsons Companies. “ Albertsons Companies Announces First Quarter Fiscal 2026 Earnings Release and Conference Call Date.”
Comcast. “ Investor News Details.”
Intel. “ Intel to Report Second-Quarter 2026 Financial Results.”
American Express. “ American Express Plans Live Audio Webcast of Second-Quarter 2026 Earnings Conference Call.”

Take the Next Step to Invest

Advertiser Disclosure

The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.

Get personalized, AI-powered answers built on 27+ years of trusted expertise.

ASK

Partner Links

Take the Next Step to Invest

Advertiser Disclosure

Motherboard embedded with Intel chips at the COMPUTEX TAIPEI trade show, in Taipei, Taiwan, on June 2, 2026. \ \ The AI Trade Is Off to a Hot Start This Week as Chip, Memory Stocks Surge Traders are seen working on the floor of the New York Stock Exchange. \ \ 5 Things to Know Before the Stock Market Opens on Thursday A trader works on the floor of the New York Stock Exchange \ \ 5 Things to Know Before the Stock Market Opens on Friday \ \ 5 Things to Know Before the Stock Market Opens on Wednesday A trader is seen walking on the floor of the New York Stock Exchange, past several large blues computer monitors. \ \ 5 Things to Know Before the Stock Market Opens on Wednesday Traders are seen working on the floor of the New York Stock Exchange. \ \ 5 Things to Know Before the Stock Market Opens on Monday A SpaceX facility with a sleek vehicle passing in the foreground at dusk \ \ SpaceX Stock Drops Below $140 for the First Time The SpaceX logo is displayed on a smartphone screen. \ \ SpaceX Stock Dropped Below Its IPO Price for the First Time