NEW YORK, July 24 (Xinhua) — U.S. stocks ended mixed on Thursday as investors digested a wave of corporate earnings and weighed the implications of accelerating global trade negotiations.

The Dow Jones Industrial Average fell 0.7 percent to 44,693.91. The S&P 500 gained 0.07 percent to 6,363.35, while the Nasdaq Composite Index rose 0.18 percent to 21,057.96.

Eight of the 11 primary S&P 500 sectors ended in the red. Consumer discretionary and materials led the laggards, losing 1.23 percent and 0.75 percent, respectively. Meanwhile, energy and technology led the gainers with a rise of 0.71 percent and 0.67 percent, respectively.

U.S. President Donald Trump has recently secured trade deals with Japan, Indonesia and the Philippines, with officials pointing to progress in talks with the European Union and other key partners. The prospect of additional deals has helped ease market nerves, though analysts warn that failure to avoid new tariffs could stoke inflation and weigh on corporate margins.

On the earnings front, Tesla shares plunged 8.2 percent after the electric vehicle maker missed Wall Street’s quarterly earnings estimates. Alphabet, on the other hand, rose 0.88 percent after reporting results that beat expectations and unveiling plans to boost capital expenditures.

Given the size and influence of big tech and artificial intelligence, the Alphabet results were a nice little tailwind for a market that is constantly asking whether all the AI spend is going to have a solid return on investment or whether this can continue, Baird investment strategist Ross Mayfield told CNBC.

Elsewhere in the tech sector, mega-cap names like Nvidia, Microsoft, Amazon, and Broadcom rose more than 1 percent, while Apple edged lower.

Among other earnings movers, IBM fell 7.62 percent despite expectation-beating profit estimates. American Airlines also slumped 9.62 percent.

The market showed signs of hesitation following several high-profile quarterly reports and growing attention to the Aug. 1 tariff deadline.

Mayfield said that raising tariffs to any country without a deal on Aug. 1 is “going to be a risk-off event.”