As we look to the day ahead, equities are keeping the calm after tech shares once again led the charge in Wall Street yesterday. The early gains did evaporate towards the end but the Nasdaq still managed to hang in there to close at another fresh record high. On the month itself, the index is up nearly 3% while the S&P 500 is up by around 1.6% in July.

US futures are holding little changed on the day with no fresh developments on trade to work with. As such, the watchful eyes will stay on key earnings releases this week. Verizon delivered a beat yesterday, reaffirming the potential for tariff tailwinds to be navigated. The firm also lifted its full-year profit outlook amid the better Q2 performance.

But the big names on the earnings calendar this week are of course Google/Alphabet and Tesla. They will be reporting after the market close tomorrow though but will play a key role in anchoring market sentiment for the latter stages this week. That especially if there are no new trade developments to work with.

Nvidia might be poster boy of the stock market but it still needs the support from the other big names too to keep the run going. So, this will be the first big test before the host of big tech names to come at the end of the month.

From earlier: Alphabet Earnings: Still Shorting After Seeing This? Then You Might Be Crazy

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This article was written by Justin Low at investinglive.com.