Stocks were mixed to open Thursday’s session as the Nasdaq fell after Tesla (TSLA) and Netflix (NFLX) updates took the shine off the earnings season and a fresh batch of results started to roll in.
The tech-heavy Nasdaq Composite (^IXIC) was down around 0.4% at the open, while the S&P 500 (^GSPC) was roughly flat. The Dow Jones Industrial Average (^DJI) was up 0.4%.
Wednesday’s after-hours earnings from Netflix and Tesla — the first to report among the tech giants that have driven a recent stock rally — failed to excite investors. Shares of Netflix dropped after its revenue missed, while CEO Elon Musk’s hint that Tesla plans more price cuts helped drive its stock lower.
That appeared to dampen hopes that techs could give 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 keep on coming Thursday, which could shift the mood. Johnson & Johnson shares rose after it beat on earnings, while American Airlines lifted its annual profit forecast.
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