Advertisment
The S&P 500 continued to have trouble reaching into the green Thursday following three straight losing sessions.
The Dow Jones Industrials withered 297.96 points to pause for lunch Thursday at 42,216.99.
The broader index stumbled 9.87 points to 5,787.55.
The NASDAQ revived 40.87 points to 18,317.53.
Tesla surged more than 17% after the electric vehicle manufacturer posted third-quarter results that beat analyst expectations. Whirlpool and Lam Research were also higher on the back of better-than-expected earnings by roughly 12.5% and 3.8%, respectively.
Weighing on the Dow was IBM, which fell more than 6.5% as consulting revenue narrowly missed analysts’ estimates. Boeing also weighed on the 30-stock index, as the company’s shares slipped more than 2% after its machinists rejected a new labor contract.
More than 32% of the S&P 500 has reported third-quarter numbers thus far. Of those companies, 76% have beaten analyst expectations,
Prices for the 10-year Treasury gained a bit of space, pulling down yields to 4.20% from Wednesday’s 4.24%. Treasury prices and yields move in opposite directions.
Oil prices backtracked 72 cents to $70.05 U.S. a barrel.
Prices for gold jumped $14.80 an ounce to $2.744.20 U.S.
