Stocks Waver as Tech Earnings Take Center Stage | Open Interest 7/22/2026

Get a jump start on the US trading day with "Bloomberg Open Interest."  Alphabet, Tesla and IBM kick off Big Tech earnings with AI spending under scrutiny. Oil surges as Iran tensions simmer. Nadia Lovell of UBS Global Wealth Management and Jordan Jackson of JPMorgan Asset Management discuss the vulnerabilities facing the stock market. Plus, banks are booming, but Wells Fargo is staying disciplined. CEO Charlie Scharf joins Bloomberg for an exclusive interview.

Chapters:
00:00:00 – Open Interest
00:01:40 – Alphabet, Tesla, AI Capex, Semiconductor Demand & Cloud Monetization
00:05:22 – AT&T Earnings, Broadband Competition, Wireless Growth & Bundling Strategy
00:07:40 – Iran Escalation, Strait of Hormuz Threats, Oil Supply Risks & Drug Tariffs
00:12:32 – Charlie Scharf Wells Fargo | Wells Fargo Growth Strategy, Investment Banking Expansion, AI Financing & U.S. Economy  
00:29:03 – Nadia Lovell UBS Global Wealth Management | Big Tech Earnings, AI Monetization, Cloud Growth, Semiconductors & Market Outlook
00:38:53 – Top Calls | Capital One Price Target Raise, Alaska Air Price Target Cut & IBM Neutral Initiation
00:39:34 – Alphabet Earnings, AI Cloud Growth, Tesla AI Spending, OpenAI Models & AI Monetization
00:45:39 – AT&T Subscriber Growth, Satellite Competition, Broadband Bundling & Pricing Strategy
00:49:42 – Alphabet Capex, Google Cloud Growth, Tesla AI Investments & OpenAI Security Concerns
00:54:21 – Jordan Jackson JPMorgan Asset Management | AI Capex Boom, Credit Markets, Tech Concentration, Bond Risks & Market Diversification
01:03:38 – High Interest | Saudi Civil Nuclear Deal, World Cup Ratings Record & Utz Going Private
01:04:42 – Utz Buyout, Cross-Border M&A, Consumer Trends & Food Industry Consolidation
01:10:40 – Marc Rosen Catalyst Brands | Back-to-School Spending, Consumer Health, JCPenney Strategy, AI Automation & Retail Trends
01:20:17 – Itay Michaeli TD Cowen | Tesla Earnings, Robotaxi Rollout, EV Recovery, AI Strategy & Autonomous Vehicles
01:26:37 – Charlie Scharf | Wells Fargo Growth, Banking Expansion, Investment Banking, Credit Markets & U.S. Economy
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