Mixed Start for US Stocks as Corporate Earnings Weigh in

US stocks started Thursday on a mixed note as investors digested more corporate earnings reports. The S&P 500 fell 0.2%, hovering just below its record set on Tuesday, while the Dow Jones Industrial Average dropped 403 points or 0.7% by 1:16 p.m. Eastern time.

The Nasdaq composite also declined 0.1%. Despite a strong start to August, Bellwether Wealth's president and chief investment officer Clark Bellin noted that 'August is off to an extremely strong start, but there is still plenty of August left to go.'

Warner Bros. Discovery rose 1.8% after its earnings exceeded expectations, while Molson Coors gained 0.6% following encouraging financial results. On the other hand, Honeywell Aerospace plummeted 19.3% after falling short of forecasts.

Roughly 85% of S&P 500 companies have reported their results so far this period, with overall earnings growth shaping up to be the strongest since 2021. Meanwhile, SpaceX surged 3% as a lockup period expired for early investors and employees, allowing them to sell over 911 million shares.