Big Q2 Earnings Afternoon After Strong Day on the Markets

Market Overview - The markets experienced a strong trading session, driven by a new trade deal with the Japanese auto industry, with the Dow gaining 507 points (+1.14%) and the S&P 500 reaching a new all-time closing high of 6358 (+0.78%) [1] Existing Home Sales - Existing Home Sales fell to 3.93 million, the lowest since September of the previous year, while the average sale price rose to a record high of $435,300 for June [2] Q2 Earnings Reports - Alphabet (GOOGL): Reported earnings of $2.31 per share, exceeding expectations of $2.15, with revenues of $81.7 billion, up 14% year over year [3] - YouTube: Ad revenue increased by nearly 13% to $9.8 billion, with a services margin above 40% [4] - Tesla (TSLA): Reported earnings of 33 cents per share, missing the consensus of 39 cents, with revenues of $22.5 billion, slightly above estimates [5] - IBM: Earnings of $2.80 per share surpassed estimates of $2.64, with revenues of $16.98 billion, exceeding expectations of $16.58 billion [6] - Chipotle (CMG): Earnings of 33 cents per share beat estimates by a penny, but revenues were flat at $3.10 billion, with comparable sales down 4% [7] - ServiceNow (NOW): Achieved earnings of $4.09 per share, significantly above the projected $3.54, with revenues of $3.22 billion, up 22.5% year over year [8] Upcoming Economic Indicators - Anticipated reports include Weekly Jobless Claims, flash S&P Services and Manufacturing PMI for July, and New Home Sales for June [9]