Markets Open · No. 056 · Published 9:31 AM ET
Make sense of the market, every morning.
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01

Three Things to Know

1

Big Tech earnings land Wednesday

Google and Tesla both report July 22. These two can swing the whole market, and investors are sitting on their hands until they do.

2

Fear is fading — VIX drops to 18

The market's anxiety meter fell 3.4% as oil eased. Calm markets often mean investors are comfortable buying, but complacency can bite before earnings.

3

Japan's Nikkei cratered 4% overnight

A sharp one-day drop in one of the world's biggest markets. It's a reminder that this global rally isn't as steady as US indexes make it look.

02

Markets at a Glance

Composite Risk Score
5.0/10
Moderate · Stable Conditions
S&P 500+0.59%
7,502
5-day trend
NASDAQ+0.85%
25,736
5-day trend
10Y YIELD+0.55%
4.57%
5-day trend
VIX-3.41%
18.13
5-day trend
DOW JONES
52,297
+0.29%
RUSSELL 2K
GOLD
OIL WTI
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03

World Markets

North America
S&P 5007,501.58+0.59%
Nasdaq25,736.24+0.85%
Dow Jones52,297.30+0.29%
10Y Yield4.57%+0.55%
VIX18.13-3.41%
Europe
FTSE 10010,535.58-0.61%
DAX24,800.92-0.12%
CAC 408,329.24-0.11%
Euro Stoxx 506,225.81-0.08%
Asia
Nikkei 22564,141.12-4.03%
Hang Seng25,143.05+2.36%
Shanghai3,796.28+0.85%
04

The Big Picture

Wall Street started the week in a good mood. The S&P 500 rose 0.59% to a fresh 7,500-plus, the Nasdaq led with 0.85%, and the VIX — the market's fear gauge — dropped to 18. Oil turning lower helped, easing worries about inflation creeping back. But the real story is what investors are waiting for: a heavy week of Big Tech earnings that will decide whether this rally has legs or is running on hope.

The split screen is Japan. The Nikkei fell 4% overnight, a brutal drop that reminds everyone gains aren't guaranteed everywhere. Meanwhile the 10-year Treasury yield ticked up to 4.57%, meaning borrowing stays expensive and bonds still compete with stocks for your money. The opportunity is clear but narrow: if Google and Tesla deliver strong numbers Wednesday, the market gets its excuse to climb higher. If they stumble, all this AI-driven optimism gets a reality check fast.

05

Story of the Day

Yahoo Finance

Stock market today: Dow, S&P 500, Nasdaq futures edge up as oil turns lower in wait for Big Tech earnings

Big Tech companies now make up a huge chunk of the whole market, so when they report earnings, the entire index moves with them. Investors are treading carefully and waiting rather than making big bets, because a few disappointing results from names like Google or Tesla could drag your retirement fund down even if most other companies are fine. In short, the market is holding its breath.

06

More Headlines

07

Coming Up This Week

WED
22
GOOGL Earnings ★★★
Ad and cloud growth will show if AI spending is paying off yet
TSLA Earnings ★★★
Deliveries and margins are the test; a miss rattles the whole growth trade
THU
23
8:30 AM ET
Jobless Claims ★★
Watch for any jump — first sign the job market is cracking
MON
27
8:30 AM ET
Durable Goods Orders ★★
Gauge of business spending; weakness signals companies getting cautious
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