The markets of NY experience a mixed session this Thursday, July 20, with upward and downward movements. The main index Dow Jones Industrials, is the index that increases with 0.8%, reaching 35,273.34 points. On the other hand, the selective S&P 500 and Nasdaq tech indices suffer losses of 0.4% and 1.6%, respectively.
US stocks are trading mixed during the day, and this is due, in part, to earnings reports from two giants: Netflix and Tesla.
Tesla Inc (NASDAQ:TSLA) shares were hit with a 4% drop despite beating quarterly earnings expectations. The company announced that its production could slow down in the third quarter due to the modernization of its factories. In addition, it possibly plans to lower the prices of its electric vehicles to boost demand in a competitive market, which could hurt its profit margins.
on the other sideo, Netflix Inc (NASDAQ:NFLX) experienced a significant increase in new subscribers in the second quarter thanks to a campaign against password sharing. However, his income was slightly below expectationsleading to a 7.6% drop in the value of its shares.
In pharmaceuticals, Johnson & Johnson (NYSE:JNJ) has a positive day as it beats revenue and profit expectations, which boosted its shares by 4.5%. The company also raised its outlook for the year.
The technology sector has been one ofe the main drivers of the market during this year, leading the Nasdaq to a 37% gain since January. The Federal Reserve is believed to is getting closer to ending its policies of increasing interest ratesalthough rates are still expected to rise another quarter of a percentage point next week.
In general, the market has shown a positive trend.a with the Dow posting its longest winning streak in nearly four years the day beforethanks to the continuous presentation of favorable corporate results.
Netflix shares collapse 6% on Wall Street after the presentation of its balance sheet
In premarket, Netflix shares collapsed 6% on Wall Street after the presentation of its balance sheet. This is due to the fact that, despite exceeding earnings forecasts, the market observes that the earnings outlook is below estimates.
Source: Ambito
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