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Forex Signals Brief July 20: Tesla, Google, GM, IBM, Intel, Philip Morris Earnings Preview
Tesla, Alphabet, Intel, General Motors, IBM, GE Vernova, Philip Morris headline a busy earnings week that could influence technology, automotive, industrial and consumer sectors across global equity markets.
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Last updated: Monday, July 20, 2026
Quick overview
- Major companies like Tesla, Alphabet, and Intel are set to report earnings this week, potentially impacting various sectors in global equity markets.
- Investors will focus on forward guidance and management commentary, as these may hold more weight than the reported earnings themselves.
- Key areas of interest include automotive demand for General Motors, advertising growth for Alphabet, and production outlook for Tesla.
- The earnings reports could lead to increased volatility in major US equity indices, particularly influenced by the performance of Big Tech.
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MARKETS TREND
Tesla, Alphabet, Intel, General Motors, IBM, GE Vernova, Philip Morris headline a busy earnings week that could influence technology, automotive, industrial and consumer sectors across global equity markets.
This week’s earnings calendar has the potential to set the tone for the next phase of earnings season. While analysts will closely compare reported results with consensus expectations, investors are likely to place even greater emphasis on forward guidance, capital spending plans, and management commentary.
With markets continuing to balance economic uncertainty, interest-rate expectations, and elevated valuations, earnings surprises from companies such as Alphabet, Tesla and Intel could generate heightened volatility across major US equity indices.
Earnings Calendar Highlight for the Week
General Motors (NYSE: GM) – Q2 2026 Earnings
- Reporting Time: Before Market Open (BMO)
- Consensus EPS: $3.18
- Estimated Revenue: $68.59 billion
Investors will focus on North American vehicle demand, electric vehicle profitability, pricing trends, and the impact of tariffs and supply chain costs.
Commentary on full-year guidance and EV investment plans will be closely monitored.
Alphabet (NASDAQ: GOOG) – Q2 2026 Earnings
- Reporting Time: After Market Close (AMC)
- Consensus EPS: $3.04
- Market capitalization remains above $4.2 trillion, making Alphabet one of the week’s most influential reports.
Investors will watch:
- Google Search advertising growth.
- Cloud revenue and profitability.
- Capital expenditure guidance.
- Progress in artificial intelligence monetisation.
- Management’s outlook for the second half of 2026.
Tesla (NASDAQ: TSLA) – Q2 2026 Earnings
- Reporting Time: After Market Close (AMC)
- Consensus EPS: $0.54
- Tesla remains under intense scrutiny following slowing vehicle deliveries and increased global competition.
Key areas of focus include:
- Automotive margins.
- Vehicle delivery outlook.
- Robotaxi and autonomous driving updates.
- Energy storage business performance.
- Production guidance and CEO commentary.
Philip Morris International (NYSE: PM) – Q2 2026 Earnings
- Reporting Time: Before Market Open (BMO)
- Consensus EPS: $2.05
Investors will assess:
- Growth in smoke-free products.
- IQOS and ZYN performance.
- Pricing power.
- Currency impacts.
- Updated earnings guidance for the remainder of the year.
GE Vernova (NYSE: GEV) – Q2 2026 Earnings
- Reporting Time: Before Market Open (BMO)
- Consensus EPS: $3.19
Markets will look for updates on:
- Renewable energy orders.
- Gas turbine demand.
- Grid infrastructure projects.
- Cash flow generation.
- Margin expansion as global energy investment continues.
IBM (NYSE: IBM) – Q2 2026 Earnings
- Reporting Time: After Market Close (AMC)
- Consensus EPS: $2.92
Investors will monitor:
- Hybrid cloud growth.
- Software revenue.
- Consulting demand.
- AI-related product adoption.
- Free cash flow and management guidance.
Intel (NASDAQ: INTC) – Q2 2026 Earnings
- Reporting Time: After Market Close (AMC)
- Consensus EPS: $0.22
- Intel’s report is expected to be one of the week’s most closely watched.
Key themes include:
- Progress on the 18A manufacturing process.
- Data centre and AI-related chip demand.
- PC market recovery.
- Foundry business performance.
- Capital spending plans and outlook for profitability.
Why This Week Matters
- Several of the world’s largest companies will report results across technology, automotive, industrials and consumer goods.
- Big Tech earnings, particularly from Alphabet and Tesla, could significantly influence the Nasdaq and broader market sentiment.
- Intel’s outlook may provide fresh insight into semiconductor demand and manufacturing trends.
- General Motors and Tesla will offer an updated picture of the global automotive market and EV demand.
- IBM and GE Vernova could provide important signals about enterprise technology spending and infrastructure investment.
- Guidance issued by management teams may have a greater impact than headline earnings, especially as investors assess the outlook for economic growth and interest rates.
Gold Returns to the $4,000 Level
Gold prices experienced a volatile trading week, ultimately finishing significantly lower after an initially strong rally lost momentum. The precious metal climbed above $4,300 early in the week but later reversed sharply, ending nearly $100 below its recent highs as investors reassessed the outlook for interest rates and global risk sentiment.
The decline was largely driven by a stronger U.S. dollar, rising Treasury yields, and reduced demand for defensive assets following positive geopolitical developments in the Middle East. Despite the weakness, gold remains above the critical $4,000 support zone, which continues to define the longer-term bullish trend but it is under attack.
MAs Keeping USD/JPY Supported
Foreign exchange markets saw sharp swings. Early in the week, U.S. yield differentials and Japanese capital outflows pushed the dollar above ¥150, but disappointing U.S. jobs data triggered profit-taking, causing the USD/JPY to slide by four yen from its peak. However, the new BOJ governor the JPY has weakened and USD/JPY soared to 154 and we decided to close our buy signal for more than 80 pips as the pair found support at the 20 daily SMA (gray) and has rebounded more than 200 pips off that MA but reversed after the 25 bps rate cut from the FED. The price approached $160 but reversed after the BOJ meeting and fell 8 cents but found support at $152 at the 100 daily SMA (red) and rebounded above 156 but have reversed down again this week after the Japanese elections.
USD/JPY – Daily Chart
Cryptocurrency Update
Bitcoin Tries to Resume Uptrend
Cryptocurrencies remained highly active over the summer. Bitcoin (BTC) climbed to fresh highs of $123,000 and $124,000 in July and August, supported by institutional inflows and technical strength. However, remarks from Treasury Secretary Scott Bessent ruling out U.S. increases to BTC reserves triggered a steep pullback, sending the coin down to $80K before finding support at the 100 weekly SMA (green). A rebound followed, sending BTC near $100 is the first major text for Bitcoin buyers. However BTC returned lower and fell below $80K, breaking below the but the 100 weekly SMA (green) but the decline stopped at the $60K support where the 200 weekly SMA (purple) stands and rebounded above $76K but returned below $70K again.
BTC/USD – Daily Chart
Ethereum Returns Toward $2,000
Ethereum (ETH) has been similarly strong, surging toward $4,800, its highest since 2021 and near its all-time peak of $4,860. Despite a dip last week, ETH found support at the 20-day SMA, with retail enthusiasm and renewed institutional participation driving fresh upside momentum. Last week we saw a dive below $2,000 but buyers returned and pushed the price above $2K again.
ETH/USD – Weekly Chart
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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