July is getting hotter and colder at the same time, and it’s not just because of the extraordinary weather.

Large-cap tech companies, which have driven Wall Street shares to their highest in more than a year, will begin reporting their second-quarter results later on Wednesday as global markets were once again buoyed by Britain finally beginning to join the club of disinflationary nations.

Tesla and Netflix, both part of New York’s 10-stock FANG+TM Index of Tech and Digital Giants, which has nearly doubled since the start of the year, will release their results after the bell on Wednesday. IBM also publishes its results.

Banks that beat forecasts get an update from Goldman Sachs after rival Morgan Stanley issued an update in light of a better-than-expected UK inflation rate.

Events to watch out for later in the day on Wednesday:

* Results from American companies: Tesla, Goldman Sachs, Netflix, IBM, Kinder Morgan, United Airlines, Halliburton, M&T Bank, Northern Trust, Zions Bancorp, US Bancorp, Citizens Financial, Nasdaq, Equifax, Discover Financial, Crown Castle, Steel Dynamics, Baker Hughes, Elevance Health.

* Home starts and building permits in the United States in June

* US Treasury Auctions 20-Year Bonds