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Risks Stack Up: Google Capex Raises Concerns | 23 July 2026

Google raised capex to $205B and reported its first negative free cash flow quarter — shares down 5% after hours. Tesla missed earnings. Oil's up 10% in five days with Brent past $95 after Houthis attacked Saudi tankers in the Red Sea. Two shipping straits now compromised. Margin lending at records, fund managers low on cash. We break down why portfolio risk management has never been more important — and what to watch as Meta, Microsoft, Apple and Amazon report next week.

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