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Good morning. Today is Thursday, October 20th, and I'm your host Julie Morgan.

Our top stories.

Tesla Earnings.

The automotive sector takes a hit.

Pinterest is adding music. Weimo is expanding into a new market.

BMW is investing more in EVs and the New York Times is shifting gears.

Cautious trading returned to Wall Street on Wednesday. years. and the S&P 500 closed down nearly 0.7% and the Dow finished down more than 0.3%.

After two days of broad-based rallies which saw all 11 S&P sectors push higher in consecutive sessions.

Wednesday experienced an almost universal pullback.

With 10 sectors ending the day lower, the slide was led by real estate, which dropped more than 2.5% in the wake of

disappointing housing data. Energy was the only sector to post a gain on the

session. The segment climbed nearly 3% as oil prices advanced almost 4%.

Treasury yields jumped after the 20-year bond recorded its highest auction stop on record.

The 10-year Treasury yield rose 13 basis points to 4.13 percent after touching its peak

mark since 2008. At the same time, the two-year yield advanced 11 basis points to 4.55%. During the day the two-year yield reached levels not seen since

2007. On the economic front, September housing starts fell 8.1% compared to the previous month with a figure

dropping to a rate of 1. 239 million compared to the 1.475 million expected.

In a second dent to the housing market mortgage

applications fell again last week dropping 4.5 percent. With higher rates

weighing on activity, volume was 68 percent below the same period last year, dropping to its lowest level since 1997.

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