In a seesaw session on Thursday, US stocks closed mixed as corporate earnings and progress on global trade talks set the tone for investors.
The Dow Jones Industrial Average dipped 0.7% to 44,693.91, while the S&P 500 edged up 0.07% to 6,363.35 and the Nasdaq Composite rose 0.18% to 21,057.96.
Sector action painted a mixed picture: 8 of the 11 S&P 500 sectors ended lower, with consumer discretionary and materials leading losses at 1.23% and 0.75%. Energy (0.71%) and technology (0.67%) bucked the trend to post gains.
Trade optimism fueled the market after the US secured new deals with Japan, Indonesia and the Philippines, while talks with the European Union and other partners show encouraging progress. Yet analysts warn looming tariff hurdles could pressure corporate margins and fan inflation risks.
On the earnings front, Tesla shares plunged 8.2% after missing Wall Street estimates, whereas Alphabet climbed 0.88% on a better-than-expected report and plans to ramp up capital spending.
Big tech names like Nvidia, Microsoft, Amazon and Broadcom jumped over 1%, even as Apple edged slightly lower. Outside the core tech players, IBM slid 7.62% despite beating profit forecasts, and American Airlines dipped 9.62% after its quarterly update.
With an August 1 tariff deadline looming, investors paused to weigh fresh trade agreements against the risk of new fees. As earnings season ramps up, traders will be scanning for more data-driven clues on the market’s next move.
Reference(s):
cgtn.com
