Wall Street today: US stocks open unchanged ahead of Tesla results, Netflix plunges 8%

US stocks opened broadly unchanged on Wednesday as investors awaited the earnings results from electric vehicle giant Tesla later on today.

Wall Street analysts anticipate the Elon Musk-owned company will announce positive earnings, following robust sales in the third quarter. This sales surge occurred as American consumers rushed to avail themselves of an EV tax allowance that had been reduced by President Donald Trump.

At 09:30 a.m. the Dow Jones Industrial Average rose 6.14 points, or 0.01%, to 46,930.88, the S&P 500 gained 2.53 points, or 0.04%, to 6,737.88 and the Nasdaq Composite lost 19.34 points, or 0.08%, to 22,934.33.

Netflix shares plunged 8.2% after missing earnings expectations.

Beyond Meat stock further climbed 48.9%, a day after the plant-based meat maker’s shares surged 146%.

Gold prices declined on Wednesday, following their sharpest single-day slump in five years during the previous trading session, as investors opted to book profits ahead of the release of crucial US inflation figures.

Spot gold was down 1.7% at $4,054.69 per ounce, as of 09:22 a.m. ET (1322 GMT), after having risen to a session high of $4,161.17 earlier.

US gold futures for December delivery fell 0.9% to $4,072.10 per ounce.

In other metals, spot silver dropped 1% to $48.27 per ounce. Platinum fell 0.1% to $1,549.85, and palladium was down 1.6% at $1,430.

Oil prices registered a second day of strong gains on Wednesday, buoyed by hopes of progress concerning a trade agreement with the US, China, and India.

Brent crude futures rose $1.19, a climb of 1.9%, reaching $62.51 a barrel as of 1313 GMT. Similarly, US West Texas Intermediate (WTI) crude futures climbed $1.24, or 2.2%, to stand at $58.48.

The market reacted positively after President Trump confirmed he had spoken with Indian Prime Minister Narendra Modi on Tuesday. Trump added that Modi had given assurances that New Delhi would be limiting its oil purchases from Russia.

Investors are also closely monitoring the status of US-China trade discussions, as officials from both nations are scheduled to convene this week in Malaysia.

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