by Lisa Pauline Mattackal, Purvi Agarwal and Carolina Mandl

(Reuters) – The New York Stock Exchange ended mixed on Thursday, with the Nasdaq and the S&P-500 having advanced in the wake of Tesla, which communicated very enthusiastic forecasts, while bond yields, if they folded, continued to weigh, in a context of political uncertainty.

The Dow Jones index lost 0.33%, or 140.59 points, to 42,374.36 points.

The broader S&P-500 gained 12.44 points, or 0.21%, to 5,809.86 points.

The Nasdaq Composite advanced 138.83 points (0.76%) to 18,415.49 points.

Although the S&P-500 recorded its first increase of the week, the climate remained fragile on Wall Street. Most major S&P sectors finished in the red, with some quarterly results disappointing.

Furthermore, US Treasury bond yields fell but remained very high, continuing to weigh.

After experiencing additional records, Wall Street has stalled in recent sessions, against a backdrop of questions about the monetary policy of the American Federal Reserve (Fed) and the rise in bond yields to a record three month.

Uncertainty also hovers over the American presidential election, the outcome of which still appears extremely undecided, less than two weeks before the vote.

The caution of the day was to be expected, commented Dennis Dick, trader at Triple D Trading, stressing that technology stocks remained key.

Tesla jumped 21.9% after posting strong quarterly results and surprising investors by saying it expected sales growth of 20% to 30% next year. “An outpouring” of joy, said Charlie Ripley, strategist at Allianz Investment Management.

The yield on ten-year US Treasury bonds fell to 4.20%, after reaching 4.26% during the previous day’s session.

A private report released today showed that US business activity rose in October, driven by solid demand, while government data showed that weekly jobless claims in the United States fell unexpectedly. Regarding earnings season, 159 S&P-500 companies reported their quarterly revenues. Of these, 78.6% beat expectations, according to LSEG data.

Note the decline of IBM, which lost 6.17% and weighed on the Dow Jones, after the publication of results lower than expectations.

Boeing fell 1.18% after workers rejected a wage proposal, continuing their strike.

UPS gained 5.28% after reporting a quarterly profit above consensus.

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(Written by Jean Terzian)

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