Stock market news live updates: Stocks decline as earnings roll in

Stock market news live updates: Stocks decline as earnings roll in

U.S. stocks advanced Thursday as investors continued to monitor a steady stream of corporate earnings results against a backdrop of elevated inflation and further Fed policy tightening.

The S&P 500 rose by about 0.9% just after the opening bell. The Dow Jones Industrial Average also gained. The Nasdaq outperformed, rising by more than 1% to reverse some of Wednesday's losses, when the tech-heavy index was weighed down by a slide in shares of Netflix. Meanwhile, Tesla (TLSA) shares jumped more than 9% after the electric vehicle-maker handily exceeded expectations in its fiscal first-quarter results.

The so far mixed quarterly earnings results this reporting season have stirred up uncertainty over whether corporate profits will be able to bolster equity markets operating in an already challenging economic environment. With inflation running at its fastest rate in 40 years and weighing on economic activity, and the the U.S. Federal Reserve on track to ramp up its tightening regime despite decelerating growth, many pundits have warned of further choppiness in risk assets.