Stock markets show mixed moves as Google climbs and Tesla dips

US stocks exhibited mixed results on Thursday as Wall Street analyzed earnings from tech behemoths and worked to gauge the trajectory of international trade deals. Despite the Dow Jones Industrial Average dropping 0.3%, optimism around a potential US-EU trade agreement buoyed the Nasdaq Composite to a 0.1% rise and pushed the S&P 500 up by 0.2%.

Alphabet's robust second-quarter earnings exceeded analysts' expectations, contributing to a 4% surge in its stock price. According to Yahoo Finance, Alphabet's earnings per share stood at $2.31 on $96.43 billion in revenue, outperforming forecasts of $2.18 and $94 billion. Meanwhile, Tesla faced hurdles as a dip in European sales and a forecast of "rough quarters" led by CEO Elon Musk caused its stock to fall 6%. The electric vehicle giant missed analysts' expectations with adjusted earnings of 40 cents a share on $22.5 billion in revenue, trailing consensus estimates.

Dow Inc. also stumbled after posting less-than-expected results, showing a loss of 42 cents per share on $10.1 billion in revenue. IBM’s stock dropped as well due to second-quarter sales faltering in its core software segment, but some bright news arrived as ServiceNow's shares jumped 8% thanks to its strong performance and improved guidance.

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Hopes are rising for a US-EU trade agreement. As reported by CNBC, the agreement may involve a 15% tariff on imports from the EU, slashing the 30% initially proposed. Such an arrangement parallels the recent US-Japan deal, which has sparked optimism and caused gains in several markets. Japanese and European indices benefited, reflecting better-than-expected negotiations.

Furthermore, economic indicators from the US reflected a stable labor market. Initial jobless claims have hit their lowest since April, hinting at continued recovery. However, ongoing data on manufacturing, services activity, and home sales remain pivotal as investors anticipate further financial moves.

In these complex market dynamics, stocks like Chipotle and UnitedHealth were also under watch, with internal and external economic forces shaping investor sentiments significantly this week.