Asian markets largely sagged but Tesla and Europe provided bright spots with earnings reports that beat expectations.

S&P 500 Futures: 5,865.50 ⬆️ up 0.48%

S&P 500: 5,797.42 ⬇️ down 0.92%

Nasdaq Composite: 18,276.65 ⬇️ down 1.60%

Dow Jones Industrial Average: 42,514.95 ⬇️ down 0.96% 

STOXX Europe 600: 521.99 ⬆️ up 0.61%

CSI 300: 3,928.83 ⬇️ down 1.12%

Nikkei 225: 38,143.29 ⬆️ up 0.10%

Bitcoin: $66,960.25 ⬆️ up 0.44%

China: Shares slip on economic and U.S. election worries

China shares slid Thursday, following the three main U.S. indexes down as traders fretted about the country’s economic outlook and an increasingly belligerent U.S. election campaign. The CSI 300, which tracks the 300 top stocks on the Shanghai and Shenzhen exchanges, dropped 1.12%, while Hong Kong’s Hang Seng shed 1.30%. Beijing-based autonomous driving company Horizon Robotics swam against the tide, as shares in its Hong Kong-based IPO jumped as much as 37.8% in its trading debut—before closing with a less-impressive 6.3% gain.

Japan: Shares eke out gain, bucking Asia’s downward trend

The Nikkei 225 rose 0.10%, boosted by a 2.93% gain at 7-Eleven owner Seven & i Holdings, and the yen hit its lowest in some three months against the dollar; a weak yen is generally thought to help Japan’s big exporters by making their products less expensive abroad. Keeping optimism in check, purchasing managers reported worsening conditions in both manufacturing and services as a PMI compiled by au Jibun Bank dropped to a two-year low.

Europe: Shares rise on earnings beats

European stocks offered a rare bright spot early Thursday after a slew of companies reported better-than-expected earnings. Barclays shares were up over 4% in early trading, hitting a nine-year high after the British bank reported an expectation-beating 23% rise in quarterly profits. Shares in French carmaker Renault rose over 7% after it reported a rise in third-quarter revenue. And Hermès International defied the luxury slowdown, with a 11% sales rise powered by its Birkin bags; shares rose more than 2%. The Stoxx Europe 600 was up 0.61% and the FTSE 100 was up 0.84% in early trading.

U.S. premarket mixed as investors celebrate Tesla

U.S. markets were mixed in premarket trading Thursday, a day after they extended Wall Street’s losing streak to three days on rising Treasury yields and disappointing earnings. Breaking the gloom, Tesla shares surged on its better-than-expected earnings report, climbing more than 11% at 4:30 a.m. ET. Tesla said it plans to start production on affordable models early next year, projecting 50% growth in 2025 compared to its 2023 production volumes.

And earnings season continues…

It’s been a huge earnings week, with 112 of the S&P 500 reporting. UPS, American Airlines and Southwest Airlines report today.