Wall Street expressed a cautious tone on Thursday, with the major averages closing mixed as investors weighed a wave of corporate earnings—highlighted by results from Alphabet and Tesla—against rising Treasury yields following an unexpected fall in jobless claims.

Wall Street is hanging near its records on Thursday, though the calm surface of the U.S. stock market is hiding some roiling moves underneath. Alphabet is rising, and Tesla is tumbling following a jumble of profit reports from big U.