Wall Street ended its day mostly lower, with disappointing earnings from big-name companies like Tesla offset by solid economic figures.

Markets at 7:20am (AEST): ASX SPI 200 futures +0.2pc, ASX 200 (Thursday close) +0.8pc to 6,098.

ASX SPI 200 futures +0.2pc, ASX 200 (Thursday close) +0.8pc to 6,098. AUD: 75.3 US cents, 55.46 British pence, 62.79 Euro cents, 82.22 Japanese yen, $NZ1.07

AUD: 75.3 US cents, 55.46 British pence, 62.79 Euro cents, 82.22 Japanese yen, $NZ1.07 US: Dow Jones flat at 23,930, S&P 500 -0.2pc at 2,630, Nasdaq -0.2pc at 7,088

US: Dow Jones flat at 23,930, S&P 500 -0.2pc at 2,630, Nasdaq -0.2pc at 7,088 Europe: FTSE -0.5pc at 7,503, DAX -0.9pc at 12,690, Euro Stoxx 50 -0.7pc at 3,529

Europe: FTSE -0.5pc at 7,503, DAX -0.9pc at 12,690, Euro Stoxx 50 -0.7pc at 3,529 Commodities: Brent crude +0.5pc at $US73.74/barrel, spot gold +0.5pc at $US1,311.24/ounce

Musk 'couldn't care less'

Tesla shares slumped after chief Elon Musk said he did not care if day traders sold their stock in the company.

"We have no interest in satisfying the desires of day traders," Mr Musk said in a conference call with investors on Wednesday.

"I couldn't care less. Please sell our stock and don't buy it."

Now those words are pinching his net worth.

The company's shares ended the day 5.6 per cent lower at $US285.45 on Thursday (local time), which shaved almost $US3 billion off Tesla's market value.

It was also his refusal to answer "boring" Wall Street questions about Tesla's first-quarter earnings which sent the electric vehicle maker's shares down as much as 7 per cent earlier in the day.

Mr Musk was also asked about Tesla's capital requirements and its nagging problem of failing to meet car-production targets.

His answer was: "Boring questions are not cool".

On Wednesday (local time), Tesla forecast lower capital spending for the year and a profit in the second half.

Mr Musk was also bullish on upcoming projects, promising decisions soon on the construction of a new Model Y factory, and the location of a Chinese Gigafactory.

He also pledged to reduce third-party contractors, saying their use had "really gotten out of control".

Mr Musk has won legions of vocal fans for his soaring vision and bold promises, from making electric vehicles mainstream to sending rockets into space as the CEO of SpaceX.

But the entrepreneur has also exhibited erratic behaviour in recent months, from late-night tweets and jokes about bankruptcy to a public spat with regulators investigating a fatality involving a Tesla vehicle.

Tesla shares have lost more than a quarter of their value since touching a high of $US389.61 in September, hurt by reports of bottlenecks around production of the Model 3 sedan, seen as crucial to Tesla's profitability.

Its stock is closely held, with co-founder Mr Musk owning 22 per cent and its top four investors, including him, over 40 per cent — giving Mr Musk a certain freedom to brush off analyst concerns.

Tesla's total market value ($US51 billion) exceeds that of Ford Motor Co ($US43.9 billion).

However, Ford's revenue last year ($US156.7 billion) surpassed Tesla's ($US11.8 billion) by far.

Wall Street's turnaround

After plunging by 400 points in early trade, the Dow Jones index clawed back all of its losses to break even at 23,930 points.

The S&P 500 and Nasdaq each closed 0.2 per cent lower. Both indexes regained most of their losses after falling sharply, by more than 1 per cent, in early trade.

At their lowest points of the day, the Dow and S&P dropped below their 200-day moving averages, a key technical indicator of longer-term momentum.

Six out of 10 companies in the S&P 500 finished in the red, with financials (-0.7pc), consumer staples (-0.6pc) and health care (-0.5pc) being the weakest sectors.

On the other hand, US economic data provided a more upbeat outlook for markets.

The US trade deficit narrowed sharply in March — for the first time in seven months — as exports increased to a record high.

This was amid a surge in deliveries of commercial aircraft and soybeans, bolstering the economy's outlook heading into the second quarter.

There was also a modest increase in new applications for jobless benefits last week.

In addition, the number of Americans receiving unemployment aid falling to its lowest level since 1973, pointing to tightening labour market conditions.

Australian market today

ASX futures are up 0.2 per cent, which points to a slightly higher open for the Australian share market.

The Australian dollar has rebounded by 0.5 per cent to 75.3 US cents. It has also risen to 55.5 British pence and 62.8 Euro cents.

In economic news, the Reserve Bank will release its statement of monetary policy at 11:30am (AEST).

ANZ's foreign exchange strategist Giulia Specchia expects the RBA's statement to show a "relatively upbeat outlook for growth, consistent with gradual progress towards the mid-point of the inflation target band [2 to 3 per cent]."