Netflix (NFLX) plunged after losing 200,000 subscribers
Stocks finished the day mixed, as investors unpacked the latest batch of corporate earnings. The Dow rose roughly 250 points, with help from IBM (IBM) and Procter & Gamble's (PG) post-earnings pops, while the S&P 500 (SPX) closed flat. The Nasdaq, however, suffered a triple-digit loss as Netflix's (NFLX) dramatic plummet spooked investors away from tech and streaming platforms. Meanwhile, the 10-year Treasury yield retreated from yesterday's three-year highs.
Continue reading for more on today's market, including:
- Call traders target airline stock ahead of earnings.
- Checking in with this steel concern before tomorrow's report.
- Plus, LULU announces big plans; options traders target HUM; and TEVA falls on FDA news.
The Dow Jones Average (DJI - 35,160.79) rose 249.6 points, or 0.7% for the day. IBM (IBM) led the gainers with a 7.1% rise, while Walt Disney (DIS) dropped to the bottom of the index with a 5.6% loss.
The S&P 500 Index (SPX - 4,459.45) fell just 2.8 points, or 0.06%, for the day, while the Nasdaq Composite (IXIC - 13,453.07) fell 166.6 points, or 1.2%.
Lastly, the Cboe Market Volatility Index (VIX - 20.32) fell 1.1 point, or 4.9%.
5 Things To Know Today
- As global sanctions against Russia continue to stack up, today's newest sanctions from the U.S. have focused on targeting entities that have managed to evade these consequences. (Reuters)
- As sales and inventory dropped, the median price of homes sold hit a record high in March. (CNBC)
- One retailer just announced an ambitious five-year plan.
- A look at Humana stock's fundamentals ahead of earnings.
- Pharmaceutical name slips after FDA rejection.
Gold Extends Pullback From Monday's Highs
Oil prices inched higher today, after data from the Energy Information Administration (EIA) showed U.S. crude supplies dropping by 8 million barrels for the week. May-dated West Texas Intermediate (WTI) crude rose 19 cents, or 0.2%, to end at $102.75 a barrel.
Gold futures fell for the second day, extending its drop from Monday's five-week high. June-dated gold gave back $3.40, or 0.2%, to settle at $1,955.60 an ounce -- the lowest settlement for the front-month contract since April 11.