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US Stocks Close Mixed Amid Falling Tesla Shares

05 April 2019


New York: US stocks ended mixed as Wall Street cheered upbeat jobs data, but the gains were capped by a steep sell-off in Tesla shares.

The Dow Jones Industrial Average on Thursday climbed 166.50 points, or 0.64 per cent, to 26,384.63. The S&P 500 increased 5.99 points, or 0.21 per cent, to 2,879.39, Xinhua news agency reported.

The Nasdaq Composite Index decreased 3.77 points, or 0.05 per cent, to 7,891.78.

Seven of the 11 primary S&P 500 sectors closed higher, with materials up 1.01 per cent, the best-performing group. Technology and utilities, however, underperformed. The S&P 500 notched a six-day winning streak.

Boeing shares gained 2.89 per cent at the close, contributing to the 30-stock index.

Tesla shares slumped 8.23 per cent, leading the laggards in the Nasdaq. The company revealed late Wednesday that it delivered less-than-expected vehicles in the first quarter.

On the economic front, US initial jobless claims, a rough measure of layoffs, registered 202,000 in the week ending March 30, a decrease of 10,000 from the previous week's revised level, the Department of Labor said on Thursday. Economists polled by MarketWatch had forecast a 216,000 reading.

Investors also paid close attention to the latest round of US-China trade talks.