Dow Jones Today: S&P 500, NASDAQ Hit New Highs, Dow Drops
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Investor's Business Daily on MSNStock Market Today: Dow Extends Gains After Surprise Economic Data; Tesla Climbs Amid New Robotaxi Launch (Live Coverage)The Dow Jones index rose after surprise economic data. Tesla stock rallied on new plans to launch its robotaxi service.
Stock futures are slightly higher Friday morning at the end of a busy week of earnings reports and trade-related news.
U.S. stocks closed mixed on Thursday with the Fear and Greed Index declining, while Alphabet and Tesla reported financial results.
US stock market today saw mixed action as the Dow Jones dropped while the S&P 500 and Nasdaq inched higher, driven by strong Alphabet earnings and cautious outlook from Tesla. Alphabet jumped over 3% after boosting its AI investment,
Dow Jones pulled back as IBM declined by 7.8%. The stock suffered a sell-off despite the better-than-expected quarterly report. The company’s software revenue missed analyst estimates.
The S&P 500 and the Nasdaq Composite ended Thursday's session with fresh record closes after scoring new all-time intraday highs earlier in the trading day. The broad market index closed 0.07% higher to end at 6,363.35, while the tech-heavy Nasdaq inched up 0.18% to finish at 21,057.96.
Tesla stock dropped early Wednesday ahead of its second-quarter earnings report. Shares were at $330.64 in early trading, down 0.4%, while the S&P 500 and Dow Jones Industrial Average were up 0.4% and 0.
Alphabet’s earnings beat lifts tech stocks, boosting the Nasdaq 100, while IBM drags down the Dow. US indices diverge as investors weigh mixed results.
Shares of Tesla fell Thursday, a day after the company said electric vehicle sales continued to decline. Chief Executive Elon Musk said on the earnings call that the EV business is slumping while its autonomous vehicle business hasn't taken off yet. "We probably could have a few rough quarters. I'm not saying we will, but we could," Musk said.