US stocks were mixed on Thursday as markets assessed developments to domestic trade policy against major tech earnings. The S&P 500 and the Nasdaq 100 edged slightly higher, just enough to retest record highs, while the Dow fell over 300 points.
Alphabet jumped 4% after the tech giant posted better than expected earnings for the June quarter and said it would increase AI-spending by $10 billion this year.
On the other hand, Tesla slumped 7% after missing earnings and revenues estimates, while CEO Musk warned of "rough quarters" ahead due to lower sales in Europe, tariffs, and the end of EV tax credits.
Also, IBM dropped 6% and American Airlines slumped 10% after delivering new results. Meanwhile, reports indicated that the EU and the US were close to agreeing to 15% tariffs, below the earlier threat of 30%.
Additionally, President Trump stated that tariffs on other countries will range from 15% to 50%, above the Liberation Day threshold that triggered a selloff in US assets.
Source : Trading Economics
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