### Tesla's Strong Earnings Report Boosts Markets Amid Mixed Trading Day

In a day of mixed outcomes on Wall Street, Tesla shined brightly after reporting impressive third quarter earnings, significantly lifting the overall market sentiment. Shares of the electric vehicle manufacturer surged by nearly 22%, driven by optimistic projections for future vehicle deliveries and advancements in autonomous driving technologies outlined by CEO Elon Musk. Tesla's remarkable performance contributed an additional $100 billion to the company's market value, now standing around $780 billion.

The S&P 500 and the Nasdaq both registered gains, with the former increasing by 0.21% to close at 5,809.86, breaking a three-day losing streak, and the latter adding 0.76% to finish at 18,415.49. In contrast, the Dow Jones Industrial Average continued its losing streak for the fourth day, declining 140.59 points, or 0.33%, to end at 42,374.36.

Tesla's positive earnings have significantly influenced the so-called "Magnificent 7" tech companies, which collectively gained 2.2% on the day. Analyst Louis Navellier of Navellier Calculated Investing highlighted Tesla's contribution to the market uplift, noting the company's solid performance on the bottom line and a slightly below-expected top line.

Other notable stock movements included IBM and Boeing, which dragged down the Dow, partly due to the rejection of a new labor contract by Boeing’s machinists. This turbulence also impacted American Airlines shares, which fell by 2.34% in premarket trading despite the airline's robust third quarter profits and improved earnings forecast for 2024, influenced by continuing issues with their aircraft supplier Boeing.

Adding more nuances to the trading day, weekly jobless claims data showed first-time unemployment benefits filings dropping by 15,000 to 227,000, suggesting sustained strength in the labor market. However, continued claims rose to the highest level in three years, indicating potential deceleration in hiring as the year draws to a close.

Meanwhile, United Parcel Service (UPS) saw a surge in its stock after reporting better-than-expected third quarter earnings and boosting its profit margin outlook, thanks to rising e-commerce demand from new entrants like Temu and Shein. The company posted a solid performance with earnings of $1.76 per share on revenues of $22.14 billion.

As Treasury yields held steady, with the 10-year note at 4.221% and the 2-year note at 4.053%, the financial markets navigated a complex landscape dominated by both optimism from Tesla’s stellar earnings and caution due to broader economic indicators. The mixed trading day reflects the balancing act investors are undertaking between buoyant corporate earnings and looming economic uncertainties.