Global markets update: Tesla, Netflix drag down S&P 500 and Nasdaq

The S&P 500 fell 30.85, or 0.7%, at 4,534.87. The Dow Jones Industrial Average rose 163.97 points, or 0.5%, at 35,225.18. The Nasdaq composite dropped 294.71, or 2.1%, at 14,063.31. 

Tesla tumbled 9.7% despite reporting stronger profit and revenue than expected.Netflix sank 8.4% despite also reporting stronger profit than expected.

Zions Bancorp. rose 10% after reporting stronger profit and revenue for the latest quarter than expected. It also said customers added $2 billion in deposits, or 3.2%, over the last three months, which it called a “solid" number.

Truist Financial sank 7.1% after reporting weaker revenue than expected. 

Bond market

The yield on the 10-year treasury rose to 3.85% from 3.75% late Wednesday. The 2-year treasury yield climbed to 4.85% from 4.77%.

Currencies

The US dollar rose to 139.63 Japanese yen from 138.85. The euro fell to $1.1202 from $1.1228.

Europe

European stocks closed higher on Thursday, lifted by miners, banks and healthcare sectors.

The pan-European STOXX 600 index rose 0.4%.

Britain’s FTSE 100 rose 0.8% at 7,646.05. Germany’s DAX up 0.6% at 16,204.22. France’s CAC 40 added 0.8% at 7,384.91.

European miners and healthcare sectors rose about 1.6% each, while banks added 0.6%.

Technology sector in Europe dropped 2.5% after TSMC forecast a drop in 2023 sales with global economic woes denting demand for chips.

Shares of Volvo Cars dropped 4.2% after the carmaker posted a 54% fall in its second-quarter earnings.Electrolux slumped 20.3% after Europe's biggest home appliances maker swung to a quarterly loss.

Asia

Asian stock markets mostly fell on Thursday.

Hong Kong’s Hang Seng index dropped 0.1% at 18,928.02. China's Shanghai Composite: lost 0.9% at 3,169.52.

Japan’s Nikkei 225 fell 1.2% at 32,490.52.

Australia’s S&P/ASX 200 index ended flat at 7,325. New Zealand's benchmark S&P/NZX 50 index fell 0.1% at 11,932.1.

Energy prices

US crude oil benchmark for August delivery fell 40 cents to $75.35 a barrel on Wednesday. Brent crude for September delivery fell 17 cents to $79.46 a barrel.

Natural gas for August delivery fell 3 cents to $2.60 per 1,000 cubic feet.

Bullion

Gold for August delivery was unchanged at $1,980.80 an ounce. Silver for September delivery rose 13 cents to $25.39 an ounce.