YEREVAN, July 24. /ARKA/. Major US stock indices ended trading on Thursday with a decline amid falling shares of Alphabet and Tesla following the release of quarterly reports, as well as a sharp rise in oil prices, reports Interfax.
The Dow Jones Industrial Average fell by 506.93 points, or 0.97%, to 51,711.65 points.
The Standard & Poor’s 500 index decreased by 90.66 points, or 1.21%, to 7,408.30 points.
The Nasdaq Composite index lost 553.21 points, or 2.15%, finishing the session at 25,137.69 points.
Shares of Alphabet fell by 7.1%. The parent company of Google increased its revenue in the second quarter by 24%, but investors reacted negatively to the negative free cash flow and the raised capital expenditure forecast for 2026.
Tesla's shares dropped by 14.5%. The electric vehicle manufacturer's revenue in April-June increased by 26%, but profits fell short of market expectations.
The company's free cash flow was negative at $1.1 billion.
Market pressure was also exerted by rising oil prices amid escalating tensions in the Middle East. Brent crude oil prices surpassed $100 per barrel at the end of trading, raising investor concerns about inflation and future interest rate dynamics.
Shares of American Airlines fell by 8.4% after the airline downgraded its profit forecast due to rising fuel costs. Southwest Airlines shares fell by 6.2%, Comcast by 6.8%, and Texas Instruments by 3.1%.
Among the largest tech companies, Amazon shares decreased by 4.6%, Microsoft by 2.2%, Nvidia by 1.6%, and Apple by 1.3%.
At the same time, shares of American defense and industrial companies showed growth. Lockheed Martin shares rose by 10.5%, RTX by 7.3%, and Honeywell by 5.7% after the publication of financial results and the revision of annual forecasts.
The rise in oil prices supported shares of energy companies: Chevron shares increased by 0.8%, ExxonMobil by 1.6%, and ConocoPhillips by 1.2%.
