Stocks were mixed to open Thursday’s session as the Nasdaq fell after updates from Tesla ( TSLA ) and Netflix ( NFLX ) took the shine off the earnings season, and new batch results began to emerge.
The tech-heavy Nasdaq Composite ( ^IXIC ) was down 0.4% at the open, while the S&P 500 ( ^GSPC ) was roughly flat. The Dow Jones Industrial Average (^DJI) rose 0.4%.
After Wednesday’s earnings from Netflix and Tesla — the first to report among the tech giants that drove the recent stock rally — failed to cheer investors. Shares of Netflix fell after its earnings miss, while CEO Elon Musk’s hint that Tesla plans more price cuts helped push its stock lower.
That dampened hopes that tech could provide a boost to the second-quarter earnings season, which got off to a good start with upbeat reports from Wall Street heavyweights.
But the results are coming in on Thursday, which could change the mood. Johnson & Johnson shares rose after the earnings beat, while American Airlines raised its annual profit forecast.
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