Closing Summary
It’s been a strong day for tech news.
Spotify shares have jumped to their highest level since 2021 after a recent swathe of j ob cuts help push profit margins to record highs in the second quarter.
Tesla is also due to to report earnings after the US market close, but it is set to be a less cheery affair, with the electric carmaker expected to see its profits fall for the sixth quarter in a row. It comes hours after boss Elon Musk said he would start using humanoid robots at the company from next year.
Google parent company Alphabet will also report after the market close, with bosses likely to face questions about its failed $23bn bid for Israeli cybersecurity firm Wiz, which would have been its largest to date had it not been rebuffed by its target.
Our other main stories today:
Thanks for reading. We’ll be back tomorrow morning from 8am. –KM
A view of the jump in Spotify shares which are at their highest level since 2021:
