NEW YORK (AP) — Wall Street is hanging near its records on Thursday, though the calm surface of the U.S. stock market is hiding some roiling moves underneath. Alphabet is rising, and Tesla is tumbling following a jumble of profit reports from big U.S. companies.

Asian shares are lower after Wall Street inched to more records as gains for Alphabet and artificial-intelligence stocks offset a steep tumble for EV-maker Tesla.

The S&P 500 was up 0.2% after setting an all-time high the day before. The Dow Jones Industrial Average was down 310 points, and the Nasdaq composite was up 0.4%. Alphabet climbed after the company behind Google and YouTube delivered a fatter profit than analysts expected.

After soaring in 2023 and 2024, shares of Tesla (NASDAQ:TSLA) were battered throughout Q1 2025. And while the stock performed marginally better in Q2, the largest U.S. EV-maker slid into Q3. However,

Dan Ives, a notable analyst at Wedbush Securities, has a $500 price target on Tesla (NASDAQ: TSLA) stock -- the highest of any analyst. It all comes down to a $1 trillion opportunity that he thinks should send Tesla's stock price soaring for years to come.

Wall Street inched to more records Thursday as gains for Alphabet and artificial-intelligence stocks helped make up for Tesla’s steep tumble. The S&P 500 added 0.1% to its all-time high set the day before.

Tesla points out early progress on robotaxis and bots, as revenue from electric vehicles plummets.

Tesla targets autonomous ride-hailing for half of U.S. by year-end while ramping Optimus and energy initiatives. Chipotle signals confidence. Trump to visit Federal Reserve.