US markets traded mixed on Thursday as investors weighed a raft of second-quarter corporate earnings while looking ahead to possible trade deals from President Donald Trump before the August 1 tariff deadline.
The Nasdaq Composite gained 0.3% to 21,081.49 in early trade, led by a nearly 3% rise in Google-parent Alphabet. The company posted a better-than-expected $28.2 billion quarterly profit, citing strong demand for AI services, AFP reported.
However, the Dow Jones Industrial Average slipped 0.5% to 44,779.70 as Tesla dragged the index lower. Shares of the EV maker tumbled around 8% after CEO Elon Musk flagged a “rough patch” for earnings ahead. Chipotle Mexican Grill and Dow Chemical also fell sharply, each losing more than 10%.
The S&P 500 was up 0.2% at 6,371.86.
“There is underlying enthusiasm for more trade deals being struck before the August 1 deadline,” said Patrick O’Hare of Briefing.com, noting improved market sentiment after the US-Japan agreement that capped tariffs at 15%.
Meanwhile, the European Central Bank kept interest rates unchanged, signalling a wait-and-watch approach on the outcome of eurozone-US trade talks.
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Read MoreThe TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.
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