Coming off a third straight losing session, trading on Wall Street was mixed early today as major U.S. companies continued to report their most recent financial results, according to the Associated Press. Futures for the S&P 500 rose 0.5% before the bell, while futures for the Dow Jones Industrial Average dipped 0.1%.
Tesla was the big winner overnight, gaining nearly 14% after it reported a jump in third-quarter profit on stronger electric vehicle sales. CEO Elon Musk predicted 20% to 30% sales growth next year, even as the broader EV sector continues to face headwinds.
Package delivery company UPS climbed 7.5% after it handily beat Wall Street’s sales and profit targets heading into its busiest stretch of the year. Competitor FedEx also rose, but a more modest 2.8%.
Shares in Southwest Airlines were unchanged after the Dallas carrier posted record third-quarter revenue that topped forecasts. Profit fell nearly two-thirds, to $67 million, on higher costs for labor and other expenses, though it also beat analysts’ targets.
American Airlines fell 1.8% after it posted a third-quarter loss.
Boeing gave back 3.9% after factory workers voted against the company’s latest contract offer.
The yield on the 10-year Treasury fell early Thursday to 4.19% from 4.25% late Wednesday, finally giving stocks some breathing room.
U.S. benchmark crude oil gained 42 cents to $71.19 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, rose 43 cents to $75.39 per barrel.
The dollar slipped to 152.02 Japanese yen after surging above 153 yen on Wednesday.
