Shares of technology companies rose ahead of earnings.
Tesla shares were flat in late trading after the electric-car maker said Chinese factory shutdown hampered profit growth in the latest quarter. Tesla also said it sold 75% of its bitcoin holdings. Bitcoin continued its rebound, topping $23,000.
"Peak pessimism is close to getting priced in and crypto was the punching bag for that trade," said Edward Moya, senior market analyst at foreign-exchange brokerage Oanda Group, in a note to clients.
Oracle and Microsoft unveiled a deeper interoperability of their clouds, allowing customers to more easily run projects across the two platforms.
Ride-hailing service Lyft has shed about 60 employees, or less than 2% of its workforce, and is pulling the brakes on renting its cars to riders, The Wall Street Journal reported.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
07-20-22 1736ET
