Stocks were mixed at the start of Thursday’s session as the Nasdaq fell after updates from Tesla (TSLA) and Netflix (NFLX) took the shine off earnings season and brought in fresh results.
The tech-heavy Nasdaq Composite (^IXIC) was down about 0.4% on the open, while the S&P 500 (^GSPC) was roughly flat. The Dow Jones Industrial Average (^DJI) rose 0.4%.
Wednesday’s after-hours gains from Netflix and Tesla — the first to report among the tech giants that have fueled a recent stocks rally — failed to excite investors. Netflix shares fell after earnings failed, while CEO Elon Musk’s suggestion that Tesla plans further price cuts helped the stock fall.
That appeared to dampen hopes that tech companies could bolster second-quarter earnings season, which got off to a good start with upbeat reports from Wall Street heavyweights.
But the results aren’t coming until Thursday, which could change the mood. Johnson & Johnson shares rose after the company topped earnings, while American Airlines raised its full-year profit guidance.
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