US Stocks Mixed, Earnings in Focus
Major US averages traded without clear direction on Thursday amid a new wave of corporate earnings. Tesla shares fell 5% after the company’s earnings missed expectations and profits dropped by more than a quarter, despite record vehicle deliveries.
IBM tumbled 5.2% as its results failed to impress investors, while T-Mobile declined 2.2% following an earnings miss and Union Pacific slipped 0.6% on weaker-than-expected revenue. Blackstone also fell 1.2% despite reporting an increase in distributable earnings.
On the upside, Honeywell jumped over 5% after its sales beat estimates. Intel (-0.6%) is also scheduled to report results today after the closing bell. Meanwhile, traders were also weighing a jump in oil prices after President Trump imposed sanctions on Russia’s major oil producers, Rosneft and Lukoil.
Trade concerns also remained in focus, following reports that the White House may limit exports of US software to China.
Source: Tradingeconomics.com
