Stock market today: Wall Street is off to a mixed start

NEW YORK — Stocks are drifting again on Wall Street. The S&P 500 was little changed early Thursday, the Dow Jones Industrial Average slipped 0.1%, and the Nasdaq composite was up 0.1%. A report showing a pickup in layoffs helped to keep the market steady. Investors hope the economy can stay solid enough to avoid a bad recession, but not so strong that it puts upward pressure on inflation. Robinhood Markets jumped after breezing past analysts’ forecasts.

Beyond Meat, the maker of plant-based meat substitutes, fell 12.9% after it posted a much wider loss than analysts expected as demand continued to crater. Treasury yields have largely been easing since Federal Reserve Chair Jerome Powell said last week that the central bank remains closer to cutting its main interest rate than hiking it, despite a string of stubbornly high readings on inflation this year. A cooler-than-expected jobs report on Friday, meanwhile, suggested the U.S. economy could pull off the balancing act of staying solid enough to avoid a bad recession without being so strong that it keeps inflation too high.

Automaker Mitsubishi Motors Corp.'s shares dropped 4.9% after the company forecasted a 7% lower net profit in the fiscal year that will end in March 2025. “We're always prepared to do so if necessary. We might do it today. We might do it tomorrow,” Masato Kanda, the Finance Vice Minister for International Affairs.

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