Market Close: Stocks Slip, Alphabet With Solid Results, Tesla Misses • 7/22/26

I'm Jessica Edinger, CNBC. Wall Street opens Thursday morning after a losing Wednesday. Oil spiked with the U.S. ceasefire with Iran well over. Strikes continued on Iran for an 11th straight day. President Trump's Wednesday threat was to bomb a bridge or a power plant in Iran for every ship attacked in the Strait of Hormuz. The Dow fell six points, led lower by shares of Salesforce, which were down 4%. The S&P 500 index lost 10 points. The Nasdaq down 146 points. Chipmaker shares were mixed. Nvidia up 2%. Intel down 2%. Markets kind of jogging in place. The majority of stocks lower today. Oil back up in the mid 80s. CNBC's Mike Santoli. Google and YouTube parent Alphabet out with cloud revenue growth of 82%. Shares were flat to lower on initial reaction of quarterly results and after hours trading. When you look at the cloud, you look at search in line, YouTube being by three, CapEx, you know, right in line. It was right down the middle, stable, steady. I think the market was hoping for more. Jeffrey's Brent Thill on CNBC. Elon Musk's SpaceX was the biggest drag on the Nasdaq Wednesday, closing down 7% to $115 a share, while Elon Musk's Tesla reported mixed quarterly results after the Wednesday closing bell. And its shares fell in after hours trading. U.S. crude oil hitting $88 a barrel on Wednesday, more than $20 a barrel above where it was before the U.S. launched missiles into Iran back in February. Prices at the pump popped up about a nickel a gallon in one day. The national average for a gallon of regular sitting at $4.06 a gallon, according to AAA. Rosenberg researchers David Rosenberg tells CNBC that American drivers don't have the cushion for higher gas prices that they had in the spring. You had really what were one time tax benefits, solid deductions, you had the income tax refunds. That was a huge benefit to the consumer this year. And the underlying trend in consumer spending is still a full percentage point lower now than it was this time last year. The House will vote on a bill that would ban sitting Congress members from trading stocks, while a Senate crypto bill would ban federal officials, including presidents, from issuing digital assets. President Trump made more than a billion dollars in a crypto venture in his first year in office, according to a White House disclosure. The AI business is spooked after two open AI models escaped a closed, controlled environment and then hacked their way into US AI developer Hugging Face. CNBC's Carl Quintanilla with Sandbox AQ's Jack Hittery. This is very important because open AI was testing inside its own premises. One of its new models is supposed to be cut off from the internet, not having access. Now, I think most of our viewers have watched Jurassic Park. I was just going to say Jurassic Park. Every Jurassic Park, what happens? They have a containment facility. You know the velociraptor is going to find a way out. And sure enough, it found a backdoor, an exploit that no one knew about, and it found a way to get to the internet. That's literally just like a dinosaur getting out. And when it got to the internet, it attacked Hugging Face. It's a fascinating moment in time. This is only going to get worse. Mortgage rates have hit a nearly one-year high. The average rate on a 30-year fixed home loan hit 6.77% Wednesday, the highest in 364 days since July 23rd of last year. On Thursday's Watch List, earnings are coming from American Airlines, Lockheed Martin, Raytheon RTX, and Intel. You can always get more on the day in business at CNBC.com. I'm Jessica Edinger, CNBC.