The US stock market had a mixed day on Thursday. Some stocks went up, while others fell, as investors looked at company earnings and waited to see if new trade deals would happen before the August 1 tariff deadline.
The Nasdaq Composite rose 0.3% to 21,081.49, mainly because Alphabet (Google’s parent company) saw its shares rise nearly 3%. Alphabet reported a strong profit of $28.2 billion for the last quarter, thanks to high demand for its AI services, according to AFP.
Also Read: Alphabet Reports $28.2B Profit in Q2, Powered by AI and Cloud Growth…
On the other hand, the Dow Jones Industrial Average fell 0.5% to 44,779.70. The drop was mostly because Tesla’s stock went down by 8%. Tesla CEO Elon Musk said the company may face a “rough patch” in future earnings. Other companies like Chipotle Mexican Grill and Dow Chemical also lost more than 10% each.
The S&P 500 increased a little, rising 0.2% to 6,371.86.
Also See: Market Recap: Markets Fall as IT, FMCG Stocks Drag; Nifty Closes Below 25,100
Market expert Patrick O’Hare from Briefing.com said people are hopeful about more trade deals before the August 1 deadline, especially after the US and Japan reached a deal to keep tariffs at 15%.
Meanwhile, the European Central Bank decided to keep interest rates the same. They are waiting to see what happens with the ongoing US–Eurozone trade talks before making any changes.
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