Stock market today: Dow, S&P 500, Nasdaq futures slide with Alphabet, Tesla earnings on deck
US stock futures declined on Wednesday, July 22, 2026, as investors awaited earnings reports from Alphabet and Tesla after the market close. Dow futures fell 0.1%, S&P 500 futures dropped 0.3%, and tech-heavy Nasdaq-100 futures sank 0.7%, retreating from a winning day. The earnings are the first from the 'Magnificent Seven' megacaps, with focus on Google's AI monetization and Tesla's capital expenditure for automation. Supermicro shares surged premarket on a record backlog. In trade policy, President Trump is expected to replace expiring 10% global tariffs with permanent duties, including a potential 100% tariff on generic drugs, while a new 25% tariff on Brazil took effect. Oil prices continued rising 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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