Nasdaq, S&P end higher as Tesla jumps, yields pull back | U.S. & World [Video]

By Lisa Pauline Mattackal, Purvi Agarwal and Carolina Mandl

(Reuters) -The Nasdaq and the S&P 500 gained on Thursday, driven by Tesla’s positive earnings forecast and a decline in Treasury yields from a three-month high, which buoyed market sentiment despite declines from some corporate results.

Shares of Tesla soared 21.9%, with the EV-maker set to add more than $140 billion to its market capitalization, after it reported robust third-quarter profits and surprised investors with a prediction of 20% to 30% sales growth next year.

This helped take the Consumer Discretionary sector 3.24% higher.

“It was a blowout from the perspective of Tesla,” said Charlie Ripley, senior investment strategist for Allianz Investment Management.

The benchmark S&P posted its first daily gain this week. However, sentiment was somewhat shaky. Most of the S&P sectors were in the red, as other earnings reports and pressure from lower, but still high Treasury yields weighed.

The yield on the benchmark 10-year Treasury note eased on the day, at 4.20%, after reaching a three-month …