Major companies report strong quarterly earnings and new funding

Several large companies have released their latest financial results. L'Oréal reported increased revenue, particularly from its US business. Alphabet, the parent company of Google, also posted strong numbers while noting its spending on artificial intelligence is continuing to rise. Pharmaceutical company Eli Lilly reported strong revenue and provided a positive forecast for its business.

Separately, there are developments in the autonomous vehicle and tech sectors. Waymo, a company that makes self-driving taxis, has raised more money as it competes with Tesla in the robotaxi space. Investor Cathie Wood commented that a potential merger between SpaceX and xAI would most benefit investors in the social media platform X, formerly known as Twitter.