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Pre-Market Futures Are Down on Geopolitical Concerns
GE Vernova Posts Mixed Q2, Northern Trust & Moody's Beat
Tesla, Alphabet and IBM Bring Quarterly Results After Today's Close
Wednesday, July 22nd, 2026
For the second day in a row, we have no economic reports to parse. All market activity is based on current geopolitical conditions and, of course, Q2 earnings season. Pre-market futures are in the red and sinking at this hour, following a nice Tuesday in the green, on higher spot oil prices due to hostilities at the Strait of Hormuz and new tariffs being slapped on Canada this week.
It’s been a rough month of trading, particularly for the tech-heavy Nasdaq, which is down around -6% over that time period. Year to date, the index only lags the small-cap Russell 2000 in gains, though we haven’t seen a new high on the index since mid-June. Currently, the Dow is -93 points, the S&P 500 -28, the Nasdaq has fallen another -284 points and the Russell 2000 -12.
Q2 Earnings Updates at a Glance: GEV, TSLA, GOOGL
GE Vernova (GEV - Free Report) , the power and grid solutions component of the old General Electric conglomerate, posted mixed results in its Q2 earnings report this morning. The company outperformed on revenues of $11.1 billion by +3.12%, which earnings of $2.47 per share fell -22% from the $3.17 Zacks consensus estimate, partly on $200 million in new tariffs slapped on import equipment. Shares are down -3% in early trading, but the stock had been performing great: +65% year to date. For more on GEV’s earnings, click here.
Two finance companies outperformed estimates by more than +10% on earnings results ahead of today’s open: Northern Trust (NTRS - Free Report) and Moody’s (MCO - Free Report) are up +1.25% and +4.5% in early trading. Northern Trust saw clear gains in fees, markets and net interest income during the quarter. Moody’s saw rising demand for analytics and pointed to a better environment for stock repurchases.
After today’s close, Tesla (TSLA - Free Report) , Alphabet (GOOGL - Free Report) and IBM (IBM - Free Report) will be among a slew of fresh earnings reports awaiting investors. These three companies are the most closely aligned with the AI trade which has been propelling markets for much of the past year but has met some resistance on capex spending questions. Today’s reports ought to color-in plenty of lines in this regard.
Tesla, a Zacks Rank #3 (Hold) stock currently, is expected to bring in a +25% gain on quarterly earnings, +14.7% on revenues. Alphabet, the Google and YouTube parent, as well as a Zacks Rank #1 (Strong Buy) stock, is anticipated to post +24.24% on earnings and +23.93% on revenues and has beaten earnings estimates by an average +34% over the past four quarters. IBM (IBM - Free Report) carries a Zacks Rank #4 (Sell) into its earnings report, expected +4.64% on earnings and +1.1% on revenues.
View the Zacks #1 Rank List
Image: Bigstock
Pre-Markets Down After Solid Tuesday Session
Key Takeaways
Wednesday, July 22nd, 2026
For the second day in a row, we have no economic reports to parse. All market activity is based on current geopolitical conditions and, of course, Q2 earnings season. Pre-market futures are in the red and sinking at this hour, following a nice Tuesday in the green, on higher spot oil prices due to hostilities at the Strait of Hormuz and new tariffs being slapped on Canada this week.
It’s been a rough month of trading, particularly for the tech-heavy Nasdaq, which is down around -6% over that time period. Year to date, the index only lags the small-cap Russell 2000 in gains, though we haven’t seen a new high on the index since mid-June. Currently, the Dow is -93 points, the S&P 500 -28, the Nasdaq has fallen another -284 points and the Russell 2000 -12.
Q2 Earnings Updates at a Glance: GEV, TSLA, GOOGL
GE Vernova (GEV - Free Report) , the power and grid solutions component of the old General Electric conglomerate, posted mixed results in its Q2 earnings report this morning. The company outperformed on revenues of $11.1 billion by +3.12%, which earnings of $2.47 per share fell -22% from the $3.17 Zacks consensus estimate, partly on $200 million in new tariffs slapped on import equipment. Shares are down -3% in early trading, but the stock had been performing great: +65% year to date. For more on GEV’s earnings, click here.
Two finance companies outperformed estimates by more than +10% on earnings results ahead of today’s open: Northern Trust (NTRS - Free Report) and Moody’s (MCO - Free Report) are up +1.25% and +4.5% in early trading. Northern Trust saw clear gains in fees, markets and net interest income during the quarter. Moody’s saw rising demand for analytics and pointed to a better environment for stock repurchases.
After today’s close, Tesla (TSLA - Free Report) , Alphabet (GOOGL - Free Report) and IBM (IBM - Free Report) will be among a slew of fresh earnings reports awaiting investors. These three companies are the most closely aligned with the AI trade which has been propelling markets for much of the past year but has met some resistance on capex spending questions. Today’s reports ought to color-in plenty of lines in this regard.
Tesla, a Zacks Rank #3 (Hold) stock currently, is expected to bring in a +25% gain on quarterly earnings, +14.7% on revenues. Alphabet, the Google and YouTube parent, as well as a Zacks Rank #1 (Strong Buy) stock, is anticipated to post +24.24% on earnings and +23.93% on revenues and has beaten earnings estimates by an average +34% over the past four quarters. IBM (IBM - Free Report) carries a Zacks Rank #4 (Sell) into its earnings report, expected +4.64% on earnings and +1.1% on revenues.
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