US open: Mixed start to trading following uneven tech earnings
By Iain Gilbert
Date: Thursday 24 Jul 2025
(Sharecast News) - Wall Street got off to a mixed start on Thursday following uneven earnings from big-name tech firms overnight and ahead of Donald Trump's visit to the Federal Reserve.
As of 1440 BST, the Dow Jones Industrial Average was down 0.67% at 44,706.98, while the S&P 500 advanced 0.12% to 6,366.49 and the Nasdaq Composite came out of the gate 0.26% firmer at 21,075.13.
The Dow opened 303.31 points higher on Thursday, taking a bite out of gains recorded in the previous session as investors cheered news that the White House has struck a trade deal with Japan.
Shares in Google parent company Alphabet traded higher in early action after reporting a Q2 earnings and revenue beat, while electric carmaker Tesla shares were in the red after posting a disappointing drop in auto revenues for a second consecutive quarter, and computing giant IBM also headed south, weighing on the blue-chip Dow Jones, after Q2 software revenues fell short of expectations on the Street.
Elsewhere, the White House said Donald Trump will visit the Federal Reserve on Thursday, as the president looks to increase the pressure on chairman Jerome Powell, marking the first time in almost 20 years that a sitting American president will make an official trip to the central bank.
On the macro front, Americans lined up for unemployment benefits at a decelerated rate in the week ended 19 July, according to the Labor Department. Initial jobless claims fell to 217,000, down from the prior week's unrevised 221,000 reading, while continuing claims came to 1.95m, an increase of 4,000 from the previous week's downwardly revised level. The four-week moving average, which aims to strip out week-to-week volatility, decreased by 5,000 to 224,500.
Elsewhere, the Chicago Federal Reserve's national activity index increased to -0.10 points in June, up from -0.16 in May, the third straight monthly reading below zero. Although two of the four broad categories improved, all four contributed negatively to the index.
Still to come, a preliminary reading of S&P Global's manufacturing and services PMIs will be published at 1445 BST, while June new home sales will be on deck at 1500 BST, and July's Kansas Fed manufacturing activity figures will follow at 1600 BST.
Intel, Honeywell, and American Airlines were all scheduled to report earnings on Thursday.
Reporting by Iain Gilbert at Sharecast.com
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