Tesla's Q2 earnings disappoint, stock drops 8%

Tesla's second-quarter earnings missed expectations as automotive sales declined for the second consecutive quarter. The adjusted operating margin hit a three-year low due to increased spending on AI for self-driving cars and price cuts. CEO Elon Musk announced the robotaxi unveiling is delayed to October 10 and polled followers on X about investing $5 billion in his new startup, xAI. Tesla's stock fell nearly 8% in extended trading. Revenue was $25.50 billion, slightly above estimates, but automotive sales dropped 7% to $19.9 billion. 

Alphabet shares drop despite revenue growth

Alphabet, Google's parent company, announced second-quarter results that met expectations overall, with a 14% year-over-year revenue increase driven by strong search and cloud performance. However, YouTube's ad revenue fell short due to competition from platforms like TikTok. CFO Ruth Porat revealed a new $5 billion multiyear investment in Waymo. Following the announcement, Alphabet shares dropped 2% in after-hours trading.

Ether ETFs debut in U.S.

Ether ETFs began trading in the U.S. on Tuesday, providing investors a new way to buy and sell this popular cryptocurrency. Major companies like BlackRock and Fidelity launched these funds, signalling increased acceptance of digital assets in mainstream finance.

Ether, the currency of the Ethereum blockchain, is seen as crucial for the future of blockchain technology. Although the launch of Ether ETFs has been quieter than the debut of bitcoin ETFs earlier this year, which saw net inflows of over $16 billion, it remains a significant step for Ether's integration into traditional finance.

Sources: Cnbc.com