US stocks ended mixed on Thursday, with the S&P 500 and Nasdaq indexes lower while the Dow Jones edged higher.
Starting the New York session, investors were shown the reading of the United States jobless claims data which again increased the expectation that the Federal Reserve (Fed) will continue to raise its rates.
However, what had more of an impact on the S&P 500 and Nasdaq was the fall of Tesla and Netflix following dismal company earnings reports.
Tesla shares posted their biggest daily percentage drop since April after they plunged 9.74% after reporting a drop in gross margin in the second quarter to a four-year low.
Not only that, but Chief Executive Officer (CEO) Elon Musk also signaled to continue implementing price cuts for his electric vehicles.
Meanwhile, Netflix suffered its biggest daily decline since December after losing 8.41% following the company's lower-than-expected quarterly earnings.
Even with the fall, the Dow Jones index closed higher as Johnson & Johnson jumped around 6% after reporting results and announcing an increase in its annual profit forecast.
The Dow Jones Industrial Average ended trading on a positive note, rising 0.47% to 35,228.18, while the S&P 500 fell 0.68% to 4,543.87 and the Nasdaq plunged 2.05% to 14,0631.31.
It was the biggest daily percentage drop for the Nasdaq since March 9, while the Dow posted its ninth straight session of gains, its longest streak since September 2017.
