Shares mixed as Tesla, Netflix and Microsoft hit record highs

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U.S. stocks were mixed on Thursday as investors sifted through a deluge of earnings reports and digested a pandemic-era low for weekly jobless claims.

The Dow Jones Industrial Average lost 107 points, or 0.31%, while the S&P 500 index was down 0.01% and the Nasdaq Composite edged up 0.22%. The Dow Jones and S&P closed on Wednesday 0.1% below their respective highs. The Nasdaq was 1.7% off its own all-time high.

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Me: DJI MEDIUM DOW JONES 35476.9 -132.44 -0.37%
SP500 S&P 500 4534.38 -1.81 -0.04%
I: COMP NASDAQ COMPOSITE INDEX 15168.93855 +47.26 + 0.31%

Data released Thursday morning showed weekly jobless claims fell to a pandemic-era low. Existing home sales are expected later Thursday morning.

Following the claims data, the yield on the 10-year note held steady at 1.66%, a five-month high.

In stocks, Tesla Inc. reported record quarterly earnings and profits, but warned supply chain bottlenecks would squeeze margins. Shares were trading at an all time high at noon.

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TSLA TESLA, INC. 895.85 +30.05 + 3.47%

Other tech names, including Netflix and Microsoft, have also set new records.

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NFLX NETFLIX, INC. 652.59 +27.45 + 4.39%
MSFT MICROSOFT CORP. 309.06 +1.65 + 0.54%

In other tech news, IBM Corp. posted weaker-than-expected quarterly revenue, with cloud computing sales edging up 2.5%. The company said the higher labor costs are not yet reflected in its prices.

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IBM INTERNATIONAL BUSINESS MACHINES CORP. 130.13 -11.77 -8.29%

AT&T Inc. beat the numbers up and down, with the net number of new phone subscribers far exceeding Wall Street estimates.

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T AT&T, INC. 25.73 -0.19 -0.73%

Southwest Airlines Co.’s quarterly loss narrowed as demand for travel skyrocketed. The airline said travel disruption caused by air traffic control issues, staff shortages and bad weather in Florida earlier this month cost the company $ 75 million.

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LCV SOUTH-WEST AIRLINES CO. 48.77 -0.69 -1.40%

Chipotle Mexican Grill Inc., Intel Corp. and Snap Inc. are among the companies expected to release quarterly results after the closing bell.

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GCM CHIPOTLE MEXICAN GRILL, INC. 1,839.20 +15.85 + 0.87%
INTC INTEL CORP. 55.41 +0.04 + 0.07%
BREAK SNAP, INC. 75.24 -0.44 -0.58%

In commodities, West Texas Intermediate crude fell 47 cents to $ 82.95 per barrel while gold fell $ 1.60 to $ 1,783.30 per ounce.

Overseas markets were under pressure.

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European stock markets were weaker overall, with the German DAX 30 falling 0.06%, the French CAC 40 losing 0.39% and the UK FTSE 100 falling 0.54%.

In Asia, the Japanese Nikkei 225 index fell 1.87% and the Hong Kong Hang Seng index fell 0.45%. China’s Shanghai Composite Index outperformed, trading up 0.22%.


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