Carl Quintanilla and Jim Cramer led off the show with another day of oil prices rising in reaction to the U.S.-Iran conflict. Brent jumped above $100 per barrel for the first time since May, after Iran-backed Houthi rebels claimed that they attacked Saudi Arabian tankers on the Red Sea. President Trump responded with a warning to Iran and the Houthis on Truth Social. Alphabet and Tesla saw their shares take a hit — as the tech giants&#x27; respective plans for AI spending overshadowed quarterly results. Also in focus: Elon Musk on Tesla capex and SpaceX; What Nvidia CEO Jensen Huang told Axios about the future of capex; IBM lowers guidance; Airline stocks tumble on results hurt by rising fuel costs; Earnings movers from Comcast to ServiceNow.<br><br>Squawk on the Street Disclaimer<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

9am Hour: Alphabet and Tesla Slide on AI Spending, Brent Hits $100/Barrel on U.S.-Iran Conflict 7/23/26

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[SPEAKER_04] Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer at Post 9 of the New York Stock Exchange. David Faber has the morning off. Future session lows here indicating about a 1% drop at the open. And while earnings collectively aren't bad, this new front in the war with Iran is driving a global bond sell-off. 10-year 471 is blowing past the highs of the year. Long bond near 520. Oil is not going to be ignored any longer.

9am Hour: Alphabet and Tesla Slide on AI Spending, Brent Hits $100/Barrel on U.S.-Iran Conflict 7/23/26

Read the full transcript

The candid version is on a podcast,
not the earnings call.

9am Hour: Alphabet and Tesla Slide on AI Spending, Brent Hits $100/Barrel on U.S.-Iran Conflict 7/23/26

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.