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CLOSING BELL
Markets Climb On Wednesday Deals

The market climbed on Wednesday, hitting fresh highs for the S&P 500, Dow, and Russell 2000 after the president announced a fresh 15% tariff trade deal with Japan, and touted that a promise of a $550B Japanese investment in the U.S. helped push the deal along.

It gave investors hope that upcoming talks with China and ongoing gripes with the EU might find similar pathways to completion. The EU said it would impose tariffs on $100 billion in goods if it doesn’t reach a deal before August 1, though Treasury Secretary Bessent said that was just a negotiating shot across the bow. To his point, the EU has seemed to accept the idea of 15% tariffs on all goods.

In stock news, earnings results from tech giants showed the market is pricing every penny very carefully- unless it’s a heavily short-sold meme stock, in which case it’s a clown show or a casino, depending on how you roll the dice. 👀

Today's issue covers: how the market reacted to big boy tech earnings, an ever-changing cast of meme coins, and more. 📰

With the final numbers for indexes and the ETFs that track them, all 11 sectors closed green, with health care $XLV ( ▼ 0.04% ) leading and staples $XLP ( ▼ 0.22% ) lagging.

S&P 500 $SPY ( ▲ 0.07% ) 6,358

Nasdaq 100 $QQQ ( ▲ 0.07% ) 23,162

Russell 2000 $IWM ( ▼ 0.67% ) 2,283

Dow Jones $DIA ( ▼ 0.42% ) 45,010

STOCKS
Tesla Is No Longer A Car Company, But… Google Is? 🤖 

$TSLA ( ▼ 8.51% ) fell slightly after reporting worse revenue in Q2 than last year, and even worse than analysts had thought. It was about a 10% drop from the same period last year, at $22.5B, and adjusted earnings per share also came in low or near estimates at 40C. It was the steepest drop in revenue for over a decade, according to Business Insider.

The firm’s gross margin grew in the quarter, but after two periods of declining sales, Chief Musk had his work cut out for him to convince investors that future prospects look good. Tesla is a stock that is priced entirely on the future: low-cost EVs, self-driving cars, robots, and its adjacency in the Musk empire of companies to space travel and advanced AI.

The firm did not update on forward guidance. Just one year ago, before the election and DOGE debacle, the firm reported revenue of $25.5 billion and adjusted EPS of $0.52.

Speaking on the call, Musk said Tesla was much better than Google at self-driving and AI, and that Tesla aims to bring robotaxis to half the U.S. population this year. Bloomberg reported that the firm has not applied for automated driving clearance with the California DMV yet, which leaves a significant portion of people out.

Musk said the future of his firm lay in batteries, energy, and robotics, and he seemed less focused on producing models of EVs. With cut tax credits making their cars more expensive, it could be a rough couple of quarters going forward. The future also includes $300M in tariff costs, according to CFO Vaibhav Taneja.

Teneja confirmed that the firm wants to test in San Francisco, but lacks the permits quite yet, and will test with a ride-along driver watching the wheel.

Google’s earnings call, on the other hand, championed its fleet of self-driving cars, check it out below vvv

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STOCKS
Tesla Is No Longer A Car Company, But… Google Is? 🚘️ 

$GOOG ( ▲ 1.53% ) on the other hand, climbed after the search giant reported rev $96.42B and $2.31 EPS. The company said AI is positively impacting every aspect of business, and beat estimates across the board. Although this included higher CapEx spending than analysts had anticipated, investors needed to hear that Google would not lose its ad revenue giant to AI chatbot search competition.

In the past quarter, business segments were healthy at GOOG: Google Cloud revenue climbed 32% to $13.6B, ad revenue grew 10% all told. Search climbed 10% to $54B from last year.

The firm said it had $45 billion more this year to spend on CapEx, bringing the total to $85 billion. In the earnings call, the company did its best to show that search was solid, nothing to see here.

Managing partner of DeepWater Asset Management Gene Munster said on twitter the risk of weak search during the AI search craze is still on the table, but “Search was so strong that investors will likely come back to the stock over the next few months.”

Speaking of coming back to the stock, the firm said it was going to ‘allocate more resources to Waymo’ but did not specify what that meant. Waymo pulled in $373M in Q2, less than estimates for $429.1M, but more than the unreported amount from Tesla’s Austin tests.

“Last month, Waymo launched in Atlanta…more than doubled its Austin service territory…and expanded its Los Angeles and San Francisco Bay Area territories by approximately 50%,” CEO Sundar Pichai told investors on the call. “The Waymo Driver has now autonomously driven over one hundred million miles on public roads. And the team is testing across more than 10 cities this year, including New York and Philadelphia. We hope to serve riders in all 10 in the future.”

In non-self-driving car measuring contest news:

$IBM ( ▼ 9.59% ) meanwhile beat expectations, said its gen AI book of business involves over $7.5B in expected sales, but the market did not seem to care, and the stock sold off 5% after the market closed.

$NOW ( ▲ 5.0% ) fell during trade but climbed 7% after reporting Q2 revenue up $3.21B over estimates, and said business subscription growth accelerated 22% year over year.

POPS & DROPS
Top Stocktwits News Stories 🗞️ 

Lucid partnered with four key mineral producers to reinforce its supply chain and support long-term electric vehicle production goals. Read more

GoPro stock nearly doubled in a meme-stock-fueled rally sparked by retail enthusiasm following DNUT and KSS jump and dumps. Read more

Toyota Motor, General Motors, and Li Auto led retail chatter among automotive stocks, reflecting heightened investor interest ahead of earnings season. Read more

Opendoor faces a volatile path as traders debate its staying power in the meme stock arena following recent surges in retail attention. Read more

AT&T and GE Vernova ranked among the most trending stocks as retail traders keyed in on utility plays and yield dynamics. Read more

Texas Instruments saw retail sentiment hit a three-month high as traders responded to earnings, though the stock sold off despite a beat and rise report. Read more

U.S. existing home sales fell 2.7% in June, reinforcing signs of a cooling market amid shifting buyer demand and rising inventory. Read more

BTIG named AppLovin a top pick, citing strong execution and upside potential amid growing mobile ad demand. Read more

Aehr Test Systems attracted investor buzz after announcing new AI chip orders, signaling rising demand in the semiconductor space. Read more

Don’t miss a story! Follow @StocktwitsNews for a live feed in real time. ✍️ 

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PRESENTED BY STOCKTWITS
🎥 Stocktwits Product Highlight Episode 1: Building In Public

In this video, Stocktwits founder Howard Lindzon offers a behind-the-scenes look at how the platform is evolving to serve modern investors. Key themes include:

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• 🌐 Community Power: Emphasis on the influence of user-generated content and real-time sentiment data.

• 🗣️ Founder Vision: Lindzon discusses the future of investor platforms and the importance of adapting to changing retail investor behavior.

The episode sets the stage for a series that will follow the product’s evolution over time, showcasing decisions and challenges in real time.

WHAT’S ON DECK
Tomorrow’s Top Things 📋

Economic data: Building Permits (8:30 AM), Initial Jobless Claims (8:30 AM), New Home Sales (10:00 AM), 10-Year TIPS Auction (1:00 PM), Fed's Balance Sheet (4:30 PM) 📊

Pre-Market Earnings: American Airlines Group ($AAL), Nokia ($NOK), Southwest Airlines ($LUV), Blackstone ($BX), Mobileye Global ($MBLY), and Honeywell Intl ($HON) 🛏️

After-Hour Earnings: Intel ($INTC), Ocean Power Techs ($OPTT), Invesco Mortgage Capital ($IVR), and Newmont ($NEM) 🎧

P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍

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👀Chipotle stock tumbles 9% after chain cuts same-store sales forecast

🏠️ Trump floats ‘no tax on capital gains’ for home sales. Here’s who could benefit

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