Tesla lifts Nasdaq while IBM, Boeing weigh on Dow

New York: Wall Street stocks mostly rose early Thursday following strong earnings from Tesla, but the Dow was dragged lower by IBM results and a vote...

New York: Wall Street stocks mostly rose early Thursday following strong earnings from Tesla, but the Dow was dragged lower by IBM results and a vote of workers prolonging the Boeing strike.

Analysts pointed to a retreat in US Treasury yields as supportive of equities, along with benign US jobless claim data that suggested the labor market remains solid.

About 20 minutes into trading, the Dow Jones Industrial Average was down 0.4 percent at 42,343.39.

The broad-based S&P 500 added 0.1 percent at 5,805.41, while the tech-rich Nasdaq Composite Index gained 0.4 percent to 18,352.34.

Among individual companies, IBM sank 6.8 percent as it reported a $330 million quarterly loss on lower than expected revenues. However, the tech company said it is well positioned given major investments in artificial intelligence and other in-demand technology.