NEW YORK — (AP) — U.S. stocks drifted to a mixed finish Wednesday as Wall Street’s momentum eased following some sharp swerves.
The S&P 500 was virtually flat and edged up by 1.08, or less than 0.1%, to 5,071.63. It had jumped sharply in the first two days of the week to claw back nearly two-thirds of last week’s steep loss.
The Dow Jones Industrial Average slipped 42.77, or 0.1%, to 38,460.92, and the Nasdaq composite added 16.11, or 0.1%, to 15,712.75.
Tesla jumped 12.1% after saying the night before that it would accelerate production of new, more affordable vehicles, which investors have been hoping will kickstart growth. The announcement helped investors look past the 55% drop in profit that Tesla reported.
Tesla is the first of the group of stocks known as the “Magnificent Seven” to report its results for the start of 2024. The focus is on the small group of stocks because …