On Tuesday, Eastern Time, the three major U.S. indices showed mixed performance. At the close, only the Dow Jones Industrial Average was up, while the $S&P 500 index SPX$ and $Nasdaq, Inc. NDAQ$ fell, with the Nasdaq dropping over 1%.

• Dow Jones: Up 0.50%, closing at 40,743.33 points.
• S&P 500: Down 0.50%, closing at 5,436.44 points.
• Nasdaq: Down 1.28%, closing at 17,147.42 points.

So far, the Q2 earnings season for U.S. stocks has been steady. According to FactSet, about 80% of the 240 S&P 500 companies that have reported earnings exceeded expectations.

• $NVIDIA Corporation NVDA$ : Dropped 7%, hitting a new closing low since late May.
• $Merck & Co., Inc. MRK$ Fell 9.8% after its full-year guidance fell short of expectations, overshadowing a strong Q2 report.
• $CrowdStrike Holdings CRWD$ : Declined 9.7%, with news that Delta Airlines, impacted by a Microsoft outage, plans to seek compensation from Microsoft and CrowdStrike.
• $Microsoft Corporation MSFT$ : Dropped more than 7% in after-hours trading due to Q4 revenue for its intelligent cloud business falling short of analyst expectations.

Company News

Microsoft Experiences Service Outages Again

On Tuesday, July 30, Microsoft faced another round of service interruptions. The company stated that it is working to resolve the issues. According to user reports compiled by the tracking site Downdetector, reports of outages affecting Microsoft’s cloud services, Azure and Microsoft 365, surged shortly after 7 a.m. Eastern Time on Tuesday, with hundreds of complaints at the peak of the incident. Microsoft reported that it has begun efforts to fix the problem, showing signs of improvement and is monitoring the situation to ensure the issue is fully resolved.

OpenAI Rolls Out GPT-4o Voice Mode to Some Users, Expanding to All Paid Users This Fall

On Tuesday, July 30, OpenAI announced the initial rollout of the GPT-4o voice mode to select ChatGPT Plus users. This new feature enhances real-time conversations by allowing interruptions and responding to user emotions, addressing technical challenges in current voice assistants. Although originally planned for release by the end of June, the rollout was postponed to July. GPT-4o's voice mode, which will be available to all ChatGPT Plus users this fall, currently includes four preset voices: Juniper, Breeze, Cove, and Ember, developed with professional voice actors.

Amazon Sues Nokia for Patent Infringement Related to Cloud Computing Technology

According to documents from the federal court in Delaware, Amazon has claimed that Nokia infringed on several patents related to cloud computing technology. Amazon alleges that Nokia improperly used Amazon Web Services (AWS) to support its own cloud products.

Microsoft’s Q4 Revenue Slightly Exceeds Expectations

For the fourth fiscal quarter, Microsoft reported revenue of $64.7 billion, slightly above the analyst expectation of $64.52 billion. The Intelligent Cloud segment generated revenue of $28.52 billion, compared to the forecast of $28.72 billion. Cloud revenue was $36.8 billion, just below the expected $36.84 billion. The company reported earnings per share of $2.95.

AMD’s Q2 Revenue Exceeds Expectations

AMD's Q2 revenue was $5.8 billion, surpassing the $5.73 billion estimate. Adjusted earnings per share were $0.69, slightly above the $0.68 forecast. R&D expenses matched expectations at $1.58 billion, while capital expenditures were higher than anticipated at $154 million. The adjusted operating profit margin for Q2 was 22%, exceeding the 21.8% prediction. For Q3, AMD expects revenue between $6.4 billion and $7 billion, with an adjusted gross margin around 53.5%. The stock rose over 7% in after-hours trading.