US stocks are off to a mixed start as more earnings reports roll in

NEW YORK (AP) — Stocks swayed in morning trading on Wall Street Thursday as a wide variety of companies reported their latest financial results.The S&P 500 rose 0.1% and is hovering near the record it set on Tuesday. The Dow Jones Industrial Average fell 180 points, or 0.3%, as of 10:59 a.m. Eastern time, and is also hovering around its record.

The Nasdaq composite rose 0.4%.Wall Street opened the week soaring higher and notching records, but has calmed over the last two days. Companies from a mix of sectors reported their latest financial results, adding to an already busy round of corporate earnings reports.Warner Bros. Discovery rose 1.3% after reporting earnings that came in ahead of what investors were expecting.

Molson Coors rose 1.8% after also reporting encouraging financial results.On the losing end, Honeywell Aerospace fell 21.3% after turning in results that fell well short of forecasts. AppLovin slumped 19.3% after the digital ad company reported mixed financial results for its most recent quarter.Strong overall profits from companies has helped allay concerns on Wall Street about the market being overpriced. Roughly 85% of companies in the S&P 500 have reported their results and overall earnings growth for the period is shaping up to be the strongest since 2021.Outside of earnings SpaceX rose 2.5%.

More than 911 million SpaceX shares held by early investors and employees become eligible for sale on Thursday as a lockup period for the stock expires. That is more than double the shares that were initially offered to the public for sale during the initial public offering for Elon Musk’s company. SpaceX initially soared above the share’s $150 asking price, making Musk the world’s first trillionaire.

They have since tumbled about 25%, and were trading around $110.Oil prices gained ground as uncertainty remains over the U.S. war with Iran that has stifled the global flow of oil. The price of Brent crude, the international standard, rose 2.2% to $81.23.Iran has said that it is close to a deal with Oman for reopening the Strait of Hormuz.

President Donald Trump has also previously said a deal is close, but the conflict has had many starts and stops over the last five months.A fifth of the world's traded oil and natural gas once passed through the Strait of Hormuz. Oil prices surged as high as $113 during the conflict and higher prices have added more h… NEW YORK (AP) — Stocks are off to a mixed start on Wall Street as more company earnings reports roll in.