Stock market today: S&P 500 snaps 3-day losing streak as Tesla surges 22%

• The S&P 500 closed higher connected Thursday to extremity a three-day losing streak.
• The scale was fueled by a surge successful Tesla's stock, which closed 22% higher aft a beardown net beat.
• Jobless claims, meanwhile, posted a astonishment autumn of 15,000 from nan week earlier to 227,000.

US stocks closed mixed Thursday, though nan S&P 500 was capable to push higher aft 3 days of losses.

The benchmark scale snapped a losing streak, closing 0.2% higher. The Dow Jones Industrial Average, however, continued its slump for a 4th time and mislaid 140 points successful nan session, dragged down by subpar net from IBM.

The mixed results travel arsenic Tesla vanished up its champion time successful complete a decade, closing 22% higher astatine $260.48 per stock aft a strong net beat connected Wednesday.

The automaker reported net per stock of $0.62, easy outpacing analysts' expectations of $0.51. Its operating profit besides exceeded expectations, up 54% from a twelvemonth agone to $2.7 billion, while analysts expected $2.0 billion.

The institution besides gave beardown forward-looking commentary, saying its plans for caller vehicles are connected way to statesman accumulation successful nan first half of adjacent year.

"TSLA 3Q24 results and commentary were amended than expected and should springiness bulls dream that Tesla is past nan nadir connected profitability and that (near- to mid-term) maturation concerns are alleviated," UBS analysts said successful a Wednesday note.

Some analysts, though, stay cautious that nan beardown net will beryllium sustainable successful early quarters.

"We expect this astonishing net hit to powerfulness a beardown affirmative guidance successful Tesla shares Thursday, fixed nan grade to which investors person go conditioned to net misses from nan company; however, we astatine nan aforesaid clip spot respective perchance unsustainable drivers of 3Q's amended net and rate travel performance," JPMorgan analysts said successful a Thursday note.

UPS shares jumped much that 5% successful nan convention connected beardown quarterly results that showed a jump successful net and gross for nan first clip successful a year. The banal ended nan time astatine $138.37.

Also connected Thursday, investors digested a astonishment autumn successful jobless claims, down 15,000 from nan week earlier to 227,000. Consensus estimates had expected 242,000.

Here's wherever US indexes stood astatine nan 4:00 p.m. closing doorbell connected Thursday:

• S&P 500: 5,809.86, up 0.21%
• Dow Jones Industrial Average: 42,374.36, down 0.33% (-140.59 points)
• Nasdaq composite: 18,415.49, up 0.76%

Here's what other is going on:

• Millennials are hoarding cash. That's a large financial mistake.
• A contested election is an underpriced consequence to markets.
• The "whale" placing immense bets connected a Trump triumph is a French nationalist pinch extended trading experience, Polymarket confirmed.
• Rising prospects of a Trump triumph and immense tariffs sparked nan worst sell-off for emerging marketplace stocks successful 10 months.

In commodities, bonds, and crypto:

• Oil futures fell slightly. West Texas Intermediate crude fell 0.37% to $70.51 a barrel. Brent crude, nan world benchmark, fell 0.32% to $74.73 a barrel.
• Gold roseate 0.7% to $2,747.60 an ounce.
• The 10-year Treasury output was astir level astatine 4.21%.
• Bitcoin roseate 3% to $68.192.