WAL - Wall Street Set For Mixed Open As Tesla's Q3 Blow Blunts Netflix Earnings Cheer: Analyst Sees 'Sustainable' S&P 500 Recovery Off This Support Level | Benzinga
U.S. stocks face a mixed opening on Thursday as traders grapple with a blend of earnings reports and increasing economic uncertainty. Tesla, Inc.’s (NASDAQ:TSLA) underwhelming quarterly results are putting pressure on sentiment, but this could be offset by positive performances from companies like Netflix, Inc. (NASDAQ:NFLX).
Furthermore, a fresh wave of earnings reports, mainly from prominent regional banks, is on the horizon. Traders are also keeping an eye on key economic data related to manufacturing, employment, and economic activity. Additionally, a series of speeches from Federal Reserve officials, including Chair Jerome Powell, are scheduled.
Bond yields remain elevated, and crude oil prices have pulled back. Meanwhile, developments on Capitol Hill, especially the deadlock over the House Speaker election and the Israel-Hamas tensions, are factors that may weigh on traders’ minds.
Cues From Wednesday’s Trading:
The major indices faced headwinds from a mix of earnings reports, rising bond yields, increased oil prices, and ongoing uncertainty about interest rates. The indices opened lower and steadily declined throughout the session, ultimately closing lower.
The tech-heavy Nasdaq Composite and the S&P 500 both recorded their second consecutive lower closing, reaching their lowest levels in about two weeks. Small-cap stocks experienced significant selling pressure as investors retreated amid the prevailing challenges. Most sectors saw declines, except for energy and consumer staple stocks, while consumer discretionary, financial, real estate, material, and industrial stocks all exhibited notable weakness.
US Index Performance On Wednesday
Index Performance (+/-) Value
Nasdaq Composite -1.62% 13,314.30
S&P 500 Index -1.34% 4,314.60
Dow Industrials -0.98% 33,665.08
Russell 2000 -2.11% 1,728.81
Analyst Color:
Even ...