Stocks Fall as Tesla, Alphabet Step Up

Cryptocurrency and underperforming energy stocks were big stories today

Patrick Martin

Managing Editor

Jul 23, 2024 at 4:29 PM

Wall Street was choppy today, with the Dow, S&P 500, and Nasdaq all turning lower at the close, even though all three indexes spent most of the session higher. Investors now look to Big Tech earnings tonight, with quarterly reports from Alphabet (GOOGL) and Tesla (TSLA) due out after the close. Elsewhere, the debut of Ether (ETH) exchange-traded funds (ETF) and record high home prices drew headlines today, all while the energy sector extended its recent underperformance.

Continue reading for more on today's market, including:

These tech stocks have short squeeze potential.
3 homebuilding stocks that could get a cyclical boost.
Plus, unpacking three important earnings reports today.

closing summary july23

nyse nasdaq July23

5 Things to Know Today

Mortgage delinquencies hit a six-month high today as well. (MarketWatch)
Medline's initial public offering (IPO) is coming in 2025. (Bloomberg)
Call traders toast Coca-Cola earnings.
UPS stock a downgrade miss after earnings whiff.
Defense stock forming an intriguing chart setup.

Earnings July23

Oil Prices Mired in a Global Slump

Oil prices extended their slump today, as demand concerns merged with global weakness. August-dated West Intermediate (WTI) crude shed $1.44, or 1.8%, to settle at $76.96 per barrel, the lowest settlement in six weeks.

Gold prices gained today, snapping a four-day losing streak. August-dated gold futures added 0.4%, to settle at $2,403.40 an ounce for the day.

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