Overnight Developments
No major geopolitical or macro surprises overnight — ECB held steady as expected and there were no new tariff or rate shocks. The story this morning is a watchlist earnings mover.
Alphabet delivers Q2 beat, Cloud revenue surges 82% — Seeking Alpha
Alphabet topped Q2 estimates with $119.8B revenue (vs. $116.8B expected) and $9.11 EPS, powered by Google Cloud growth of 82% to $24.8B. Shares initially dipped after-hours on raised capex guidance ($195–205B) but reversed to +3% in pre-market as investors leaned into the cloud momentum. Affected sectors: Tech, Cloud, AI infrastructure
Futures & Pre-Market
| Index | Futures | Change |
|---|---|---|
| S&P 500 | 7,521.25 | -0.09% |
| NASDAQ | 29,104.75 | -0.07% |
| DOW | 52,308.00 | -0.16% |
Watchlist Movers
- GOOG +3.0% pre-market — Q2 earnings beat; Google Cloud revenue up 82% YoY, offsetting concern over elevated capex guidance.
International Markets
Asia closed higher — Hang Seng +1.28%, Nikkei +0.63%, Shanghai +0.39%. Europe is mixed to slightly lower, with the DAX off -0.67% and the FTSE 100 roughly flat at -0.10%.
What to Watch at Open
Alphabet’s cloud strength is the key tell for AI-infrastructure sentiment; watch whether GOOG’s pre-market gain holds and spills over to other mega-cap tech and semis. Broad futures are flat, so the session opens without a strong directional catalyst beyond earnings reactions.
This alert is for informational purposes only and does not constitute financial advice.