Records Above, Cracks Below: Meta Slides as Nvidia Surges

Wall Street is riding into Wednesday still buzzing from Tuesday's 900-point Dow rally, with the S&P 500 and Nasdaq punching to fresh records as Strait of Hormuz de-escalation hopes crushed oil and cleared some of the geopolitical fog hanging over risk assets [1][2]. Q2 earnings are running hot too, with an 86% beat rate feeding the move, and Nasdaq 100 technicals are being read as a signal that the two-month tech drought is finally over [3][4]. But the tape underneath the headline numbers is messier than the index prints suggest. Mag 7 earnings split hard this week — Microsoft and Amazon…