Stock market today: Dow, S&P 500, Nasdaq diverge with Alphabet, Tesla earnings on deck
US stocks diverged on Wednesday as the Dow Jones Industrial Average rose 0.3%, the S&P 500 hovered near flat, and the tech-heavy Nasdaq Composite sank 0.3%. Investors focused on upcoming earnings from Alphabet and Tesla, the first two 'Magnificent Seven' megacaps to report, with attention on Google's AI monetization and Tesla's capex for automation. Other notable earnings included Supermicro shares surging on a record backlog, IBM set to report after a pre-earnings warning, and GE Vernova missing EPS estimates despite revenue growth. In trade news, President Trump appears ready to replace expiring 10% global tariffs with more permanent duties, including a potential 100% tariff on imported generic drugs, while a new 25% tariff targeting Brazil took effect. Oil prices continued to rise as the US conducted its 11th straight night of airstrikes against Iran, with Defense Secretary Pete Hegseth disclosing $37.5 billion spent on the war so far.
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