Stocks opened higher on Wednesday following a new trade agreement between the US and Japan. The deal includes a 15% tariff on imports from Japan and market access for cars, trucks, rice, and agricultural products. The US indices closed mixed yesterday, with General Motors facing $1 billion in tariffs costs. Negotiations between the US and EU are ongoing, with attention on the August 1st deadline. Tesla and Alphabet are set to report earnings after the bell, with Tesla facing challenges in sales and Alphabet focused on AI ambitions. S&P 500 is at record highs, while the USD remains flat and EUR/USD falls. Oil prices are declining as peace talks between Russia and Ukraine begin.

Read more at Investing.com: Magnificent 7 Earnings Kick Off as Valuations Stretch and Growth Faces Tests