As oil rises, stocks fluctuate, and Tesla falls late – US Market Wrap

Wall Street investors bracing for the start of the big-tech earnings season sent equities tumbling, as fears of an escalation in the Iran war lifted oil prices.
Losses in most Megacaps dragged on the S&P 500, offsetting a rally in chipmakers, with Nvidia rising 2.3%. Software companies were hammered again. Tesla slumped in late trading after its second-quarter earnings missed expectations. Following the release of its findings, Alphabet experienced a whipsaw.
Trump vowed on social media that the US will bomb and destroy one bridge or power plant, including those around Tehran, any time Iran’s military shoots at a ship in the Strait of Hormuz.
AMD has agreed to invest up to $5 billion in Anthropic as part of a potential multi-gigawatt deployment of chips for the AI startup.
Traders were vigilant about geopolitical developments. Following the escalation of attacks, the US and Iran indicated that they are not prepared to return to the bargaining table. Brent oil temporarily surpassed $95, raising bond yields amid fears about inflationary pressures.