Wall Street reached new records with gains from Alphabet and AI stocks offsetting Tesla’s 8.2% drop. S&P 500 and Nasdaq hit all-time highs. Alphabet’s profits exceeded expectations, boosting other AI stocks like Nvidia. Tesla reported strong results but faces challenges as Musk focuses on AI and politics.

Chipotle and IBM stocks fell despite strong profits, while American Airlines reported a stronger profit but expects a summer quarter loss. Stock market reactions to profit beats or misses have been intense. Extreme swings have been seen in meme stocks like Opendoor Technologies. Overall market indexes have been steady.

The S&P 500 rose to 6,363.35, while the Dow Jones fell to 44,693.91 and the Nasdaq rose to 21,057.96. Treasury yields held steady as fewer U.S. workers applied for unemployment benefits, signaling easing layoffs. Expectations for the Fed to hold interest rates steady have solidified amid positive economic reports.

Global stock indexes rose in Asia and Europe, with Tokyo up 1.6% and London up 0.8%. The European Central Bank held rates steady, monitoring the impact of Trump’s tariffs. The yield on the 10-year U.S. Treasury note briefly rose before pulling back.

Read more at Yahoo Finance: Alphabet and AI stocks nudge Wall Street to more records