Stock market today: Wall Street drifts to a mixed finish as Tesla surges

NEW YORK — Wall Street drifted to a mixed finish after Tesla surged and IBM slumped following their latest profit reports. The S&P 500 rose 0.2% Thursday to break its first three-day losing streak since early September. It bounced between losses and gains through the day, and was evenly split between rising and falling stocks. The Dow Jones Industrial Average fell 0.3%, while the Nasdaq composite rose 0.8%. Tesla jumped 21.

IBM was one of the heaviest weights on the market and fell 6.5% after reporting revenue for the latest quarter that fell just short of analysts’ expectations. It was the single biggest reason the Dow was dragging behind other indexes. Such losses helped to overshadow Tesla's jump of 21.3% after the electric-vehicle maker reported better profit for the latest quarter than analysts expected. An optimistic CEO Elon Musk also predicted 20% to 30% sales growth next year, though its revenue for the latest quarter fell short of analysts’ forecasts.

Stocks have broadly regressed this week after the S&P 500 and Dow both set records at the end of last week. They’ve been hurt by rising Treasury yields in the bond market, which can make investors less willing to pay high prices for stocks. Critics had already been saying beforehand that stocks looked too expensive given how much faster their prices have risen than corporate profits.

A report on unemployment claims Thursday offered a mixed picture on the job market. It said fewer workers applied for unemployment benefits last week, which can be a signal of relatively low layoffs. But it also said the total number of those collecting benefits rose to its highest level in almost three years.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Wall Street holds steadier as Tesla surgesNEW YORK (AP) — Wall Street is holding steadier, thanks in part to a surge for Tesla’s stock. The S&P 500 was 0.2% higher in early trading Thursday and on track to break its first three-day losing streak since early September.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Asian markets are mixed after another winning close on Wall StreetBANGKOK (AP) — Asian shares were mixed on Monday after U.S. stocks rose to records to close out their latest winning week. U.S. futures also were mixed and...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Wall Street ends mixed even as the Dow ekes out another recordNEW YORK (AP) — U.S. stocks ended on a mixed note following the latest signals that the U.S. economy continues to hum. The S&P 500 closed little changed Thursday. The Dow Jones Industrial Average added 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street hangs around its record highs as earnings reports come in mixedNEW YORK (AP) — U.S. stocks are hanging around their records after Netflix jumped and CVS Health slid amid mixed reports on profits. The S&P 500 was up 0.2% in early trading Friday and flirting with its all-time high set early this week.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Asian markets surge higher after Wall Street takes a breatherShares rolled higher in Asia on Thursday after U.S. stocks edged back from their records.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »