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Wall St slips on downbeat earnings led by Tesla

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The S&P 500 edged lower on Thursday after disappointing quarterly reports from companies including Tesla and AT&T, while a drop in bond yields helped mitigate equity declines as investors sought clarity on the path of interest rates.

Investors are assessing the path for interest rates, and many expect a slowing U.S. economy could lead the Federal Reserve to start cutting rates later this year.

Markets were focused on a bevy of Fed officials speaking at the end of the week ahead of the central bank's meeting early next month, when investors widely expect a 25 basis point hike.more rate hikes are ahead but also said the aggressive move to boost borrowing costs to quash high inflation is nearing its end.rose to the highest level in over a decade as investors fretted about the U.S. government debt ceiling.

Declining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.48-to-1 ratio favored decliners. The S&P 500 posted 22 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 45 new highs and 113 new lows.

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Tesla and Twitter are sinking as fast as his rocket did today. Funny how everything implodes at once!

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