The Dow falls 200 points, but the Nasdaq rises on Tesla earnings

It was a mixed day for investors as the Dow fell over 200 points and the Nasdaq jumped following Tesla's better-than-expected earnings reports. In the afternoon, the Dow fell 203 points, or 0.4%, to 42,311. Meanwhile, the Nasdaq and S&P 500 rose 0.6% and 0.1%, respectively.

This puts all eyes on Capital One (COF-0.51%), which will announce its earnings after the closing bell.

Tesla Stock Rises 20% After Strong Earnings

Tesla (TSLA+20.13%) share remained strong in trading on Thursday after the company reported earnings That largely caught Wall Street by surprise, and Elon Musk delivered a new round of optimistic forecasts. It is the first time in seven quarters – almost two years – that Tesla has increased its profits.

The automaker reported improved operating margins, automotive gross margins excluding the benefits of regulatory credits and better earnings per share than analysts had expected for the July-September quarter. The company also reported better-than-expected net income and its lowest cost per good sold ever at about $35,100 per vehicle.

IBM falls over 6% after disappointing earnings

IBM (IBM-6.70%) The company's shares fell 6% reported third quarter results That fell short of Wall Street's sales expectations. While adjusted earnings per share of $2.30 were slightly above the expected $2.23, sales reached $14.97 billion, missing the forecast of $15.07 billion. This mixed performance reflects ongoing challenges in the technology sector.

–William Gavin contributed to the article