Investors face another busy week as major technology companies prepare to report earnings, central banks weigh inflation risks and geopolitical tensions continue to influence global markets. Developments surrounding artificial intelligence, the conflict in the Middle East and key economic data releases are all expected to shape investor sentiment in the days ahead.
The latest round of earnings from major U.S. technology companies will dominate market attention, with investors looking for fresh signals about the strength of artificial intelligence spending.
Alphabet (NASDAQ:GOOG) is scheduled to report quarterly results after U.S. markets close on Wednesday. As one of the largest technology companies investing heavily in AI infrastructure, its outlook for capital spending will be closely watched for signs that the industry's investment cycle remains intact.
Chipmakers Intel (NASDAQ:INTC) and Texas Instruments (NASDAQ:TXN) will also release earnings, offering further insight into demand across the semiconductor sector. While AI-related shares have been among this year's strongest performers, recent concerns over the sustainability of massive infrastructure spending have weighed on the sector.
Tesla (NASDAQ:TSLA), American Express and defence group RTX are also among the notable companies reporting during the week.
Geopolitical tensions continue to influence financial markets as renewed military action between the United States and Iran raises concerns over energy supplies.
Although recent corporate earnings from major Wall Street banks highlighted resilient dealmaking and trading activity, investors remain focused on whether higher oil prices will fuel another wave of inflation.
The fragile ceasefire between the United States and Iran has deteriorated, leaving uncertainty around shipping through the Strait of Hormuz, one of the world's most strategically important oil transport routes.
Brent crude has once again climbed above $90 a barrel after experiencing significant volatility throughout the conflict. Prices previously surged above $110 before retreating following June's ceasefire agreement, only to rebound as hostilities resumed.
Friday's release of S&P Global's preliminary manufacturing and services purchasing managers' indices for July will provide investors with another snapshot of the U.S. economy.
The composite PMI stood at 52.2 in June, supported by stronger activity in the services sector during the FIFA World Cup jointly hosted by the United States, Canada and Mexico. Any reading above 50 indicates economic expansion.
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