nasdaq futures were underperforming early thursday after results from tesla and netflix were not very well received by traders on wednesday the dow jones industrial average djia rose 109 points or 031 to 35061 the sp 500 spx increased 11 points or 024 to 4566 and the nasdaq composite comp gained 4 points or 003 to 14358 investors were being reminded thursday that when stocks rise swiftly and are afforded rich valuations earnings results that are good on the surface still may not be good enough the sp 500 and the nasdaq composite closed the previous session at 15month highs having jumped 189 and 372 respectively for the year to date as cooling inflation revived hopes that the federal reserve can soon stop raising borrowing costs helping drive those gains were tesla tsla  up 136 so far in 2023 to sport a pricetoprojected 2023 earnings ratio of 86 and netflix nflx  up 62 and a pe ratio of 42 according to factset but results and comments from both market darlings released after wednesday’s close have been found wanting shares in tesla were off 4 in premarket action and netflix was sliding 8 dragging futures for the techfocused nasdaq 100 lower “netflix missed sales estimates and issued lowerthanexpected q3 guidance while tesla’s results showed shrinking profitability with squeeze on margins” said henry allen strategist at deutsche bank susannah streeter head of money and markets at hargreaves lansdown said that both could be vulnerable to a deterioration in household sentiment “concerns are growing that a slowing economy combined with the erosion of lockdown savings will weigh further on spending on discretionary goods and services particularly bigticket items like cars and nice to have but not necessary streaming accounts in the months ahead” said streeter still the earnings come thick and fast america airlines aal  johnson  johnson jnj and blackstone bx are among those delivering figures before the opening bell while after the close its the turn of capital one cof  csx csx and first financial bank ffbc  to name a few us economic updates set for release on thursday include the weekly initial jobless claims and the philadelphia fed manufacturing survey for june both at 830 am eastern the june existing home sales and leading economic indicators will be released at 10 am