Tesla Helps Drive Stocks Mostly Higher

AFP/APP

New York: Wall Street stocks closed mostly higher on Thursday, buoyed by strong results from Tesla and a pullback in US Treasury bond yields. Tesla surged nearly 22 percent after reporting higher earnings, ending a streak of disappointing results.

Deutsche Bank described Tesla’s profit margins as “impressive” and noted Elon Musk’s optimistic sales outlook for 2025.

While Tesla’s success lifted the Nasdaq and S&P 500, the Dow was dragged down by disappointing results from IBM and Honeywell.

Boeing dropped 1.2 percent after machinist union workers rejected the company’s contract offer, extending their nearly six-week strike.

Analysts noted heightened market uncertainty due to the upcoming US presidential election, while European markets rose, bolstered by expectations of interest rate cuts.

Key figures around 2050 GMT:

New York – Dow: DOWN 0.3% at 42,374.36 (close)

S&P 500: UP 0.2% at 5,809.86 (close)

Nasdaq Composite: UP 0.8% at 18,415.49 (close)

London – FTSE 100: UP 0.1% at 8,269.38 (close)

Paris – CAC 40: UP 0.1% at 7,503.28 (close)

Frankfurt – DAX: UP 0.3% at 19,443.00 (close)

Tokyo – Nikkei 225: UP 0.1% at 38,143.29 (close)

Brent North Sea Crude: DOWN 0.8% at $74.38 per barrel

West Texas Intermediate: DOWN 0.8% at $70.19 per barrel