US stocks pulled back on Thursday as investors assessed Tesla’s (TSLA) results amid a fresh rush of earnings.
The S&P 500 (^GSPC) slid 0.2%, coming off another record-setting session for the broad benchmark. Meanwhile, the Dow Jones Industrial Average (^DJI) and tech-heavy Nasdaq Composite (^IXIC) dropped 0.4% and 0.3%, respectively. Investors are looking to earnings reports to provide uplift. Tesla stock initially climbed after its earnings beat but turned lower at the opening bell on Thursday, slipping almost 3% after CEO Elon Musk signaled a massive capital expenditure push that will drag on cash flow.
Elsewhere, ServiceNow (NOW) stock sank over 15% after the opening bell despite an upbeat earnings report, while IBM (IBM) shed 11% as slowing revenue growth fed worries that Anthropic’s AI tools will disrupt its business.
Stock market today: Dow, S&P 500, and Nasdaq slide as oil rises
byu/Every-Actuator-6996 inStockMarket
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