Wall Street Woes: Tesla and IBM Earnings Disappoint, Quantum Market Buzz

Wall Street indexes stalled Thursday due to disappointing earnings from Tesla and IBM, coupled with U.S.-China trade tension. Investors are cautious, parsing reports for market guidance. Quantum computing firms saw upticks, while the U.S. government shutdown intensified uncertainty. Key CPI data is anticipated as Federal Reserve decisions loom.

On Thursday, Wall Street's main indexes paused, affected by underwhelming quarterly results from giants Tesla and IBM. Meanwhile, ongoing U.S.-China trade tensions kept investors wary.

Tesla shares fell 3.3% in premarket trading after a disappointing third-quarter profit report. Despite surpassing revenue expectations, the market's enthusiasm waned. IBM saw a 6.6% drop due to slowed growth in its cloud segment. The overall market cooled, losing momentum amid a flurry of earnings reports, even as many companies surpassed analyst expectations.

Amid these challenges, focus shifted from traditional data sources to Friday's core CPI projection, anticipated to maintain a steady 3.1%. With the government shutdown halting the usual jobless claims data, investors leaned on this indicator, contemplating the Federal Reserve's upcoming decisions, including a likely rate cut.

(With inputs from agencies.)