US stocks trade mixed amid falling Tesla shares

US stocks trade mixed amid falling Tesla shares

New York: US stocks traded mixed on Thursday as the market was dragged by a steep sell-off in Tesla shares.

The Dow Jones Industrial Average increased 126.23 points, or 0.48 per cent, to 26,344.36. The S&P 500 climbed 0.26 points, or 0.01 per cent, to 2,873.66, Xinhua news agency reported.

The Nasdaq Composite Index decreased 21.47 points, or 0.27 per cent, to 7,874.09.

Tesla stock plunged more than 8 per cent in midday trading. The company revealed late Wednesday that it delivered less-than-expected vehicles in the first quarter.

Dow’s triple-digit gains were led by rallying Boeing shares. Boeing stock gained 2.8 per cent around midday.

Of the 11 primary S&P 500 sectors, industrials and communication services outperformed while technology and real estate struggled.

The Wall Street is also keeping a close eye on the on-going US-China trade talks.