Stock Market's Calm Hides Underlying Volatility Amid Major U.S. Company Reports
Wall Street is near records amid drastic stock movements. Alphabet's significant profits elevated AI-related stocks, but Tesla’s sharp decline restrained the market. Despite Tesla’s AI focus, Musk's politics deter potential customers. The broader market awaits trade deals and reacts to mixed profit reports with pronounced movements.
Wall Street maintained its record levels on Thursday, masking substantial volatility beneath the surface. Corporate giants like Alphabet showed strong gains, propelling AI sector stocks, while Tesla faced a significant downturn following mixed earnings reports.
In the early trading hours, the S&P 500 edged higher by 0.1%, while the Dow Jones dipped 265 points, influenced by Alphabet's 3.1% rise subsequent to surpassing profit expectations. Tesla's 9.2% decline, despite meeting forecasts, is challenged by Musk's political controversies deterring customers.
The stock market continues its upward trend amid hopes of favorable trade agreements led by President Trump. However, critique arises over elevated stock prices, prompting a critical eye on company performance. Meanwhile, global markets showed gains, with Tokyo advancing 1.6% and London 0.8%.
(With inputs from agencies.)
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