US stock indices moved in different directions on Thursday with the S&P 500 and the Nasdaq rising as investors assessed tech earnings, while the Dow Jones declined on losses in shares of IBM and Honeywell.
As of 1:05 PM Eastern Time, the S&P 500 was 0.2% higher, the Dow Jones Industrial Average was down 0.5%, and the Nasdaq Composite was 0.2% higher.
As of 10 AM Eastern Time, the S&P 500 was 0.2% higher, The Dow Jones Industrial Average was down 0.5%, and the Nasdaq Composite was 0.2% higher.
At the open, the Dow Jones Industrial Average fell 233.9 points, or 0.52%, to 44776.41. The S&P 500 rose 9.7 points, or 0.15%, to 6368.6, while the Nasdaq Composite rose 63.8 points, or 0.30%, to 21083.818.
In the bond market, the yield on the 10-year US Treasury fell to 4.40%.
Gainers and Losers
Shares of Google-parent Alphabet rallied and Tesla tumbled sharply after the two companies reported earnings on Wednesday.
Alphabet stock jumped 1.1% after the company delivered a solid profit for the second quarter.
Tesla stock shed 9% after Elon Musk’s electric vehicle maker posted quarterly results that were roughly in line with Wall Street estimates.
Chipotle Mexican Grill stock fell 12% despite the burrito chain reported a profit for the second quarter.
IBM shares slumped 10.4% even though it reported a stronger profit than expected.
American Airlines stock sank 7.9% despite reporting a stronger profit than expected.
Honeywell lost 2.8% despite beating Wall Street expectations for the second quarter results.
Bullion
Gold prices fell on Thursday as trade deals optimism lifted risk appetite.
By 9:41 AM ET (1340 GMT), spot gold was down 0.8% at $3,362.35 per ounce. US gold futures dropped 0.9% to $3,367.40.
Among other metals, spot silver slipped 1% to $38.87 per ounce, palladium dropped 2.2% to $1,247.68 and platinum fell 0.8% to $1,400.18.
Oil prices gained on Thursday, buoyed by optimism over US trade talks.
Brent crude futures had gained 61 cents, or 0.89%, to $69.12 a barrel by 1329 GMT. US West Texas Intermediate crude futures climbed 73 cents, or 1.12% to $65.98 per barrel.
