As the U.S. stock market hovers near record highs, the second-quarter earnings season heats up, posing a critical test for the market's 10% rally this year. All eyes are on the artificial intelligence sector, with upcoming results from Alphabet and Intel expected to provide crucial updates on AI spending and the health of the high-flying semiconductor trade. Investors will weigh these corporate reports against geopolitical uncertainty from the U.S.-Iran war and the Federal Reserve's upcoming interest rate decision.

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