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US stocks close mixed amid falling Tesla shares

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New York Stock Exchange. (File Photo: IANS) by .
New York Stock Exchange.

US stocks ended mixed as Wall Street cheered upbeat jobs data, but the gains were capped by a steep sell-off in Tesla shares…reports Asian Lite News

New York Stock Exchange. (File Photo: IANS) by .
New York Stock Exchange.

The Dow Jones Industrial Average 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.

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.