Key Takeaways U.S. equities were mixed at midday, slowed by new Chinese tariffs on U.S. goods and weak tech results.Alphabet sales were short of forecasts, and the Google parent planned big artificial intelligence spending.

Shares of Google parent Alphabet slump after quarterly revenue misses analysts’ expectations, AMD’s data-center revenue disappoints, a report says China is considering a probe into Apple’s App Store fees,

Palantir stock surges as artificial-intelligence gains drive an earnings and revenue beat, while China begins an antitrust probe into Alphabet’s Google. Alphabet is scheduled to report quarterly earnings after the closing bell Tuesday.

Alphabet's stock fell postmarket after fourth-quarter earnings, where profits beat expectations, but revenue growth was in line after disappointing growth in the cloud unit.

Alphabet reports fourth-quarter earnings after Tuesday's closing bell. Investors will be focused on cloud momentum and AI traction, with shares of the Google and YouTube parent company holding fast near the record levels achieved last week.

Alphabet's fourth-quarter earnings day is here, with numbers expected to be released after the markets close Tuesday. This will be followed by an earnings call at roughly 4:30 p.m. ET. The stock has been riding high over the past month as investors grew bullish over Google's AI investment.