US stocks muted ahead of Tesla earnings

New York, Oct 22, 2025 (AFP)
US stocks opened largely flat Wednesday as traders awaited earnings results from electric car giant Tesla later in the day.
Analysts expect the Elon Musk-owned company to announce positive earnings after announcing strong sales in the third quarter, as US consumers rushed to take advantage of an EV tax credit cut by President Donald Trump.
Shortly after markets opened on Wall Street, the Dow Jones Industrial Average was trading down less than 0.2 percent at 46,845.30.
The broad-based S&P 500 was almost unchanged at 6,731.94, while the tech-rich Nasdaq Composite Index slipped around 0.2 percent to 22,916.49.
"Earnings is really key," Victoria Fernandez from Crossmark Global Investments told AFP, referring to the ongoing release of data on third quarter profits.
In the absence of data, "it's what's been driving the market," she continued, adding that profit margins had also been really strong.
"So with strong earnings and strong margins, the market continues to have a risk-on sentiment," she said.
Among individual firms, Netflix saw its shares plunge 8.2 percent after missing earnings expectations.
And the plant-based meat maker Beyond Meat saw its shares pop a further 48.9 percent, a day after its shares surged 146 percent.
The company was recently added to a popular "meme stock" exchange-traded fund.

Sumber : AFP