Major averages trading lower across the board as oil prices surge amid escalating conflict in the Middle East and investors weigh quarterly results from two of the world’s largest companies. Brian Sullivan and Contessa Brewer break down the latest earnings reports from Alphabet and Tesla with Dan Ives (Yorkville Ives &amp; Co. Partner) as both stocks plummet in Thursday’s trading. Meanwhile, Ninepoint Partners’ Senior Portfolio Manager, Eric Nuttall, joins the program to lay out why energy prices are surging higher and BMO’s Head of Healthcare Research, Evan Seigerman, joins the anchors on set to recap the recent rally in the biotech sector. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Tech Stocks Tumble, Brent Back Above $100, Biotech’s Big Comeback 7/23/26

Power Lunch

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This episode is brought to you by Schwab Market Update, an original podcast from Charles Schwab. Join host Keith Lansford for this information-packed daily market preview delivered in 10 minutes or less, including projected stock updates, monetary policy decisions, and key results and statistics that may be a better way to do it. It may impact your trading. Download the latest episode and subscribe at schwab.com slash market update podcast or find Schwab Market Update wherever you get your podcasts.

An AI spending surge, a global bond route, and oil on the boil is the market and your money sort of headed to a perfect storm. Welcome to Power Lunch, everybody. I'm Brian with Contessa Brewer today. Crude oil overseas back above 100 bucks a barrel. The U.S. hitting Iranian targets for the 12th straight night. And Iran and its allies striking more ships around the Gulf and the Red Sea will also show you one energy point you may not be seeing anywhere else.

Plus, Alphabet's AI spending is spooking investors, overshadowing strong cloud growth. The stock is dragging down the broader AI trade, but is the market really missing the bigger picture here? We'll debate that ahead. Plus, biotech has been red hot, up 80 percent over the past year with earnings season set to test the sector's vital signs. BMO's Evan Siegerman joins us with what to watch. Brian. All right. We got a lot ahead, but we begin with the latest of the Middle East.

Tech Stocks Tumble, Brent Back Above $100, Biotech’s Big Comeback 7/23/26

Read the full transcript

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

Tech Stocks Tumble, Brent Back Above $100, Biotech’s Big Comeback 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.