Earnings Season Heats Up as Alphabet Reports Tonight

US Market: All Eyes on Mega-Cap Earnings

The S&P 500 faces a pivotal session today. Alphabet reports after the bell — the $2 trillion company is the biggest print of the week. Investors want hard numbers on AI revenue. IBM and Texas Instruments also report today. AT&T posts results this morning. The week builds through Thursday with Intel, RTX, and American Express all due.

GM in Focus

General Motors drew attention beyond earnings season this morning. CEO Mary Barra called China's EV price war "unsustainable" and defended the company's autonomous driving push. GM absorbed nearly $11 billion in EV charges. Analysts are backing the stock — 20 hold Buy ratings with a consensus target of $97.54. Short interest sits at just 3%. Bears have little grip here.

Europe: Santander Beats

Banco Santander delivered a clean earnings beat this morning. Q2 adjusted EPS rose to $0.29, up from $0.25 a year ago. Revenue hit $18.2 billion, up 11% year-on-year. The Spanish bank's results add to a broadly positive European earnings picture.

Short Interest & Options Watch

Chip stocks dominate options flow. MaxLinear saw 95% bullish options bets ahead of its Q2 print. SiTime Corporation followed at 93% positive. Meanwhile, Wolfspeed remains the most shorted name in semiconductors — 79.3% of its free float is short, with zero shares available to borrow. The stock has still rallied 162% in three months.

On the insider front, Bessemer Venture Partners has dumped over $124M in ServiceTitan stock since late June. That scale of VC distribution is worth watching closely.