Wall Street shook off most of the losses driven by a dire sales warning from Microsoft Corp., with stock traders shifting their focus to Tesla Inc.’s earnings report after the closing bell.
The S&P 500 almost erased a slide that topped 1.5% earlier in the day. In late trading, Elon Musk’s electric-vehicle giant whipsawed as it beat estimates on profit and sales, but missed on cash flow. International Business Machines Corp. delivered an upbeat annual sales forecast while announcing it would eliminate about 1.5% of its global workforce, following similar job cuts by many of its tech peers.
