Market Updates
Netflix Drags Nasdaq and Streamers Lower, IBM Offers Positive Outlook
Barry Adams
20 Apr, 2022
New York City
U.S. stock indexes gained after investors digested a flood of earnings from banks and tech companies.
Netflix plunged 35% on the rising loss of subscribers and dragged internet stocks including Match.com, Wayfair, Etsy, Shopify. Disney, Paramount, CBS, and Discovery stocks also closed lower. P&G and IBM offered a positive view for the rest of the year.
Banks including Truist and M&T gained on a positive earnings outlook but Fifth Third Bancorp earnings fell short of expectations.
Crude oil futures closed unchanged and 10-year U.S. Treasury bond yield inched lower to 2.85%.
Annual Returns
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Earnings
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