Tesla's Earnings Forecast Powers Nasdaq Gains Amid Market Fluctuations

The Nasdaq surged as Tesla's strong sales forecast lifted market sentiment, despite challenges from rising Treasury yields and mixed corporate earnings. Tesla's stock rose significantly following its robust third-quarter profits and optimistic sales growth projection. Meanwhile, other companies like Boeing and IBM faced declines.

Driven by Tesla's impressive earnings forecast, the Nasdaq made substantial gains on Thursday, despite a backdrop of challenging corporate results and pressures from rising Treasury yields.

Tesla shares soared 19% following its announcement of robust third-quarter profits and an ambitious sales growth outlook, boosting its market capitalization by over $100 billion. This optimism also uplifted the Consumer Discretionary sector by 2.7%.

However, the broader market saw mixed results, with the S&P 500 experiencing declines in most sectors and the Dow Jones Industrial Average dropping amid falling Treasury yields and corporate performance uncertainties.

(With inputs from agencies.)