Alphabet, Intel in focus as US earnings season gathers steam

New York: US corporate earnings season gathers steam in the coming week as Alphabet and Intel are set to offer updates that could sway the market-leading AI trade amid high profit expectations and Iran war uncertainty.

The S&P 500 skidded on Friday to post a weekly decline, dragged down by a steep pullback in high-flying semiconductor shares. Still, the benchmark S&P 500 remained up about 9% in 2026, and stood 2% below its early June record high. Alphabet's quarterly report on Wednesday will command Wall Street's attention. AI capex has been at the heart of this year's market rally.