S&P 500, Nasdaq Reach Records as Dow Falls on IBM, Tesla Losses

US stock markets showed a mixed performance on Thursday, with the Nasdaq Composite and S&P 500 rising modestly due to strong tech earnings, particularly from Alphabet, which raised its 2025 capital spending forecast amid easing trade tensions. However, the Dow Jones Industrial Average fell notably, pressured by significant losses in IBM, Tesla, UnitedHealth, and Honeywell, with IBM's software revenue missing estimates and Tesla warning of challenging quarters ahead. Investors are also closely watching political developments as President Donald Trump is set to visit the Federal Reserve, highlighting his critical stance toward Chair Jerome Powell, a rare move by a sitting president. On the international front, progress in US-EU trade talks and tariff reductions with Japan are adding cautious optimism, although concerns remain over regulatory and debt issues in China. Despite the mixed signals, the S&P 500 and Nasdaq continued to build on their recent record highs, while the Dow retreated from its near-record level. Market sentiment balances between strong corporate earnings, geopolitical trade progress, and uncertainties stirred by political and regulatory factors.