Alphabet and Tesla results drive after-hours losses despite strong cloud revenue growth and earnings beats.
Global equities showed mixed performance in the last 24 hours, with US stocks edging lower while Asian and European markets advanced. The S&P 500 dipped 0.14%, contrasting with gains in the KOSPI (+3.98%), Hang Seng (+1.34%), and Nikkei (+0.52%). European indices also rose, led by the STOXX 600 (+0.58%).
US equity futures extended losses after Alphabet and Tesla reported earnings. Alphabet posted an 82% year-over-year increase in cloud revenue to $24.8bn, beating estimates of $22.5bn, but shares fell over 3% after announcing a higher 2026 capex plan of $195-205bn, up from $186bn estimates. Tesla declined more than 4% after reporting its first negative free cash flow quarter.
Mainland China underperformed, with the CSI 300 and Shanghai Composite both slightly lower.