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Tesla jumps after strong sales forecast

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UPS advances following quarterly profit beat

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Boeing ( BA ) down after workers reject latest contract

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Weekly jobless claims lower than forecasts

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Futures: Dow down 0.1%, S&P 500 up 0.52%, Nasdaq up 1%

(Updated at 8:35 a.m. ET/1235 GMT)

By Lisa Pauline Mattackal and Purvi Agarwal

Oct 24 (Reuters) -

The S&P 500 and the Nasdaq were poised for a higher open on

Thursday following a selloff in the previous session, buoyed by

Tesla's optimistic earnings forecast, which kicked off megacap

results on a positive note.

Shares of the company soared nearly 14.3% in premarket

trading, with the EV-maker set to add more than $95 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.

"Tesla bounced back from the underwhelming launch of its

Robotaxi with a strong set of third-quarter earnings. These

numbers represent a return to form after an underpowered second

quarter, when profitability dropped sharply," said Russ Mould,

investment director at AJ Bell.

Tesla was the first of the so-called Magnificent Seven group

of stocks to report, with results from several other megacaps

due next week.

The optimism spread to the other six, with Nvidia ( NVDA )

rising 1.5%, Amazon.com ( AMZN ) up 0.7% and Meta Platforms ( META )

gaining 0.8% after steep declines in the previous

session.

Dow E-minis were down 43 points, or 0.1%, U.S.

S&P 500 E-minis were up 30.25 points, or 0.52%, and

Nasdaq 100 E-minis were up 201.75 points, or 1%.

Wall Street saw a selloff on Wednesday, with the benchmark

S&P 500 notching its third straight decline and the Nasdaq

seeing its worst day since early September.

Stocks have eased from record levels over the past few

sessions due to a reassessment of bets on the Federal Reserve's

rate cuts, rising Treasury yields, corporate earnings and

uncertainty surrounding the upcoming U.S. election.

The yield on benchmark 10-year Treasury bonds eased slightly

on the day, but was still trading around its highest since late

July. It touched 4.26% on Wednesday.

"We're coming into the day after having sold off a bit

every day this week. With yields taking a breather and Tesla's

positive results and guidance, markets may well be able to find

some tailwinds after having been down this week," said Art

Hogan, chief market strategist at B Riley Wealth.

Shares of Boeing ( BA ) dropped 2.2% after factory

workers voted on Wednesday to reject a contract offer and

continue a more than five-week strike that has seen the

company's losses soar.

Meanwhile, investor focus returned to earnings season, with

UPS adding 8.5% after the parcel service provider

reported a rise in third-quarter profit on rebounding volumes

and cost cuts. Rival FedEx ( FDX ) was up 2.6%.

Southwest Airlines ( LUV ) dipped 0.8% after reporting a

surprise

profit

in the third quarter, while Honeywell International ( HON )

was off 2.4% after quarterly results.

IBM ( IBM ) lost 3.5% after missing estimates for

third-quarter revenue, while gold producer Newmont ( NEM )

dropped 4.5%, as higher costs and weaker Nevada output saw it

miss profit estimates.

Around 32% of S&P 500 companies have reported results so

far this quarter, according to data compiled by LSEG, with 79%

beating earnings estimates.

On the economic front, weekly

jobless claims

fell to 227,000 for the week ending Oct. 19, versus the

242,000 forecast by economists polled by Reuters.

S&P Global flash PMIs and new home sales for September

are due on the day.