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US stock market ended mixed on Thursday, with the S&P 500 and Nasdaq closing lower, weighed down by selling in technology stocks, after latest earnings reports failed to impress investors.

The Dow Jones Industrial Average added 55.96 points, or 0.11%, to 49,071.56, while the S&P 500 fell 9.02 points, or 0.13%, to 6,969.01. The Nasdaq Composite closed 172.33 points, or 0.72%, lower at 23,685.12.

On the Nasdaq, 2,067 stocks rose and 2,746 fell as declining issues outnumbered advancers by a 1.33-to-1 ratio. The S&P 500 posted 51 new 52-week highs and 20 new lows, Reuters reported.

Microsoft stock price slumped 10%, and was the biggest drag on the S&P 500. The fall Microsoft share price came after the software giant reported its Q2 earnings. Microsoft’s cloud revenue failed to impress and stoked fears the hefty outlays for its OpenAI alliance were not reaping returns fast enough.

Microsoft total sales increased 17% to $81.27 billion, while profit was $5.16 a share in Q2. Analysts had expected sales of $80.31 billion and per-share earnings of $3.92. The Azure cloud-computing unit posted a 38% revenue growth during the quarter when adjusting for currency fluctuations.

Other software stocks on Wall Street also ended lower. Salesforce shares delcined 6.09%, Oracle shares fell 2.2%, Adobe stock price declined 2.6%, and Datadog shares tanked 8.8%.

Meanwhile, Apple shares rose 0.72%, Nvidia share price gained 0.52%, while Tesla stock price shares declined 3.45%.

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