Tech stocks outperformed on Thursday, driven by Tesla Inc. (NASDAQ:TSLA), which skyrocketed 18% in midday trading following stronger-than-expected quarterly financial results.
The electric vehicle giant is on track for its best session since March 2021.
Despite Tesla's spectacular rally, broader market sentiment remained cautious, reflecting recent trends of subdued risk appetite.
In macroeconomic news, weekly jobless claims dropped significantly, coming in below expectations and suggesting ongoing resilience in the labor market.
Meanwhile, private sector activity surveys revealed better-than-expected conditions in both services and manufacturing this month and a further reduction in price pressures.
Both the S&P 500 and Russell 2000 traded flat, while the Dow Jones fell 0.6%. The consumer discretionary sector led gains, heavily influenced by Tesla's stellar performance.
The U.S. dollar softened slightly, and Treasury yields edged lower, easing pressure on gold. The SPDR Gold Trust (NYSE:GLD) rose 0.6%.
Oil prices dropped 1%, heading for a second consecutive day of losses. Meanwhile, Bitcoin (CRYPTO: BTC) gained 1.8%.
Thursday's Performance In Major US Indices, ETFs
Major Indices
Price
1-day %change
Nasdaq 100
20,164.58
0.5%
S&P 500
5,796.37
0.0%
Russell 2000
2,207.55
0.0%
Dow Jones
42,259.72
-0.6%
According to Benzinga Pro data:
The SPDR S&P 500 ETF Trust (NYSE:SPY) flattened at $577.32.
The SPDR Dow Jones Industrial Average (NYSE:DIA) fell 0.7% to $422.33.
The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) rose 0.4% to $489.81.
The iShares Russell 2000 ETF (NYSE:IWM) inched 0.1% down to $218.88.
The ConsumerDiscretionary Select Sector SPDR Fund (NYSE:XLY) outperformed, up by 2.5%, predominately affected by Tesla. The Materials Select Sector SPDR Fund (NYSE:XLB) lagged, down 1.4%.
Thursday's Stock Movers
Stocks reacting to earnings results include:
T-Mobile US Inc. (NASDAQ:TMUS), up over 4%,
International Business Machines Corp. (NYSE:IBM), down over 6%,
ServiceNow Inc. (NYSE:NOW), up over 5%,
Lam Research Corp. (NASDAQ:LRCX), up 3.8%,
Newmont Corp. (NYSE:NEM), down over 9%,
United Rentals Inc. (NYSE:URI), down 2%,
Las Vegas Sands Corp. (NYSE:LVS), up 1.3%,
Raymond James Financial Inc. (NYSE:RJF), up over 7%,
S&P Global Inc. (NYSE:SPGI), down 2.4%,
Union Pacific Corp. (NYSE:UNP), down 5%,
Honeywell International Inc. (NASDAQ:HON), down 4.4%,
KKR & Co. Inc. (NYSE:KKR), up 3.4%,
United Parcel Service Inc. (NYSE:UPS), up 5.1%,
Carrier Global Corp. (NYSE:CARR), down 7%,
Nasdaq Inc. (NASDAQ:NDAQ), up 1.6%,
Valero Energy Corp. (NYSE:VLO), up 0.7%,
CBRE Group Inc. (NYSE:CBRE) up by over 9%,
Dow Inc. (NYSE:DOW), down 1.1%,
Southwest Airlines Company (NYSE:LUV) dropped over 3%, despite posting better-than-expected results and reaching a deal with Elliott Investment Management on the board's composition. However, the CEO warned of potential delivery delays due to Boeing Co.'s (NYSE:BA) ongoing machinist strike.
Large-cap companies slated to report results after the close include Capital One Financial Corp. (NYSE:COF), AmeripriseFinancial Inc. (NYSE:AMP), Edward Lifesciences Corp. (NYSE:EW), ResMed Inc. (NYSE:RES), DexCom Inc. (NASDAQ:DXCM), and Deckers Outdoor Corp. (NYSE:DECK).
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
In macroeconomic news, weekly jobless claims dropped significantly, coming in below expectations and suggesting ongoing resilience in the labor market. 
マクロ経済ニュースでは、週間失業手当の申請が大幅に減少し、予想を下回り、労働市場の持続的な強さを示しています。 