The S&P 500 and Nasdaq traded near all-time highs at midday as a strong earnings report from Alphabet lifted big tech stocks.

Nasdaq 100 and Dow edge higher as traders eye Fed policy and key tech earnings. AI stocks and healthcare lead US indices ahead of a volatile earnings week.

Tesla stock dropped early Wednesday ahead of its second-quarter earnings report. Shares were at $330.64 in early trading, down 0.4%, while the S&P 500 and Dow Jones Industrial Average were up 0.4% and 0.

Wall Street kicked off Thursday with a split mood, as US stock market futures painted a mixed picture ahead of the opening bell. The S&P 500 held steady near record highs, the Nasdaq pushed higher on the back of red-hot AI enthusiasm,

Dow Jones pulled back as IBM declined by 7.8%. The stock suffered a sell-off despite the better-than-expected quarterly report. The company’s software revenue missed analyst estimates.

Shares of Tesla fell Thursday, a day after the company said electric vehicle sales continued to decline. Chief Executive Elon Musk said on the earnings call that the EV business is slumping while its autonomous vehicle business hasn't taken off yet. "We probably could have a few rough quarters. I'm not saying we will, but we could," Musk said.

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.

U.S. stocks closed mixed on Thursday with the Fear and Greed Index declining, while Alphabet and Tesla reported financial results.

The Dow Jones Industrial Average was in the process of heading for its highest closing level of the year on Wednesday as investors held out hope for more trade deals. The Dow was up about 451 points,