US close: Traders turn Tuesday green as Netflix flexes its earnings muscle
Wall Street finished a solid session in the green on Tuesday, as investors digested the latest numbers from investment banking behemoth Goldman Sachs and a blowout earnings beat from Netflix.
Dow Jones I.A.
38,135.08
04:30 15/10/20
Nasdaq 100
17,430.50
12:15 25/04/24
The Dow Jones Industrial Average ended the session up 0.87% at 24,786.63, the S&P 500 advanced 1.07% to 2,706.39, and the Nasdaq 100 surged 2.12% to 6,816.37.
“A lack of news, be it about a US-China trade war, or military action in Syria, or an escalation of aggression between the US and Russia, has helped the Dow get its swagger back, the index further boosted by a so-far strong season of earnings,” noted Connor Campbell, financial analyst at SpreadEx, earlier in the day.
On the corporate front, Goldman Sachs lost 1.69% even after its first-quarter earnings surged 27%.
The US investment bank’s trading business rebounded in response to increased market volatility.
Streaming television behemoth Netflix rallied 9.19% after posting its first-quarter earnings late on Monday.
“Netflix's numbers last night helped to bolster risk sentiment, acting as a pleasant throwback to the heady days of 2017, when all seemed to be rosy,” said IG analyst Chris Beauchamp.
“The group continues to find new subscribers, allowing it to remain in the ‘growth stock’ end of the market, permitting investors to ignore its growing debt pile.”
Elsewhere, shares in UnitedHealth gained 3.57% after revealing an earnings beat on the back of higher revenues, but Johnson & Johnson was down 1% after doing the same.
Tesla stock lost 1.21% after the electric car maker said it had halted production of its Model 3 for the second time.
On the data front, US housing starts rose by more than expected in March, according to data released by the Commerce Department on Tuesday.
Housing starts were up 1.9% to a seasonally-adjusted annual rate of 1.319m units, versus expectations for a rise to 1.262m.
The February figure, meanwhile, was revised to 1.295m from 1.236m.
Elsewhere, growth in US industrial production slowed sharply in March after a sizeable advance a month earlier, with gains in the mining and utilities sectors offset by a slowdown in manufacturing.
Industrial production, which measures output at factories, mines and utilities, moved ahead 0.5% in March, according to data from the Federal Reserve, down from the 1% jump reported in February but still ahead of the 0.3% gain predicted by analysts.
Dow Jones - Risers
Unitedhealth Group Inc. (UNH) $238.54 6.36%
Merck & Co. Inc. (MRK) $59.29 3.67%
General Electric Co. (GE) $13.79 3.45%
Cisco Systems Inc. (CSCO) $44.59 2.98%
International Business Machines Corp. (IBM) $160.91 2.68%
Visa Inc. (V) $123.82 2.54%
Verizon Communications Inc. (VZ) $48.85 2.50%
Walmart Inc. (WMT) $87.90 2.19%
Intel Corp. (INTC) $53.54 2.18%
3M Co. (MMM) $220.10 2.13%
Dow Jones - Fallers
Goldman Sachs Group Inc. (GS) $253.74 -1.61%
Johnson & Johnson (JNJ) $130.37 -0.19%
JP Morgan Chase & Co. (JPM) $110.20 -0.08%
Pfizer Inc. (PFE) $36.33 0.03%
Procter & Gamble Co. (PG) $78.43 0.08%
Home Depot Inc. (HD) $174.92 0.28%
American Express Co. (AXP) $93.89 0.31%
Nike Inc. (NKE) $67.51 0.39%
McDonald's Corp. (MCD) $162.56 0.51%
Chevron Corp. (CVX) $121.44 0.61%
S&P 500 - Risers
Netflix Inc. (NFLX) $336.06 9.19%
Xerox Corp. (XRX) $30.01 6.43%
Newell Brands Inc (NWL) $27.37 6.42%
Unitedhealth Group Inc. (UNH) $238.54 6.36%
Praxair Inc. (PX) $154.76 5.73%
Marathon Petroleum Corporation (MPC) $78.57 5.31%
Charles Schwab Corp. (SCHW) $53.61 5.04%
Spectra Energy Corp. (SE) $10.87 5.02%
ProLogis (PLD) $65.29 4.88%
Valero Energy Corp. (VLO) $106.70 4.78%
S&P 500 - Fallers
National Oilwell Varco Inc. (NOV) $37.59 -8.14%
Comerica Inc. (CMA) $92.74 -3.51%
Range Resources Corp. (RRC) $14.15 -3.28%
PNC Financial Services Group (PNC) $140.86 -3.16%
Bristol-Myers Squibb (BMY) $52.38 -3.14%
M&T Bank Corp. (MTB) $177.43 -3.13%
Regions Financial Corp. (RF) $17.95 -3.03%
Mattel Inc. (MAT) $14.33 -2.65%
Zions Bancorporation (ZION) $51.92 -2.61%
Citizens Financial Group, Inc. (CFG) $41.29 -2.55%
Nasdaq 100 - Risers
Netflix Inc. (NFLX) $336.06 9.19%
Mercadolibre Inc. (MELI) $337.54 4.57%
Workday, Inc. (WDAY) $132.57 4.53%
Amazon.Com Inc. (AMZN) $1,503.83 4.32%
Lam Research Corp. (LRCX) $212.33 4.31%
Intuitive Surgical Inc. (ISRG) $435.45 4.08%
Vertex Pharmaceuticals Inc. (VRTX) $164.99 3.96%
Take-Two Interactive Software Inc. (TTWO) $102.21 3.80%
Alphabet Inc. Class C (GOOG) $1,074.16 3.49%
Alexion Pharmaceuticals Inc. (ALXN) $113.28 3.47%
Nasdaq 100 - Fallers
Hasbro Inc (HAS) $86.06 -2.25%
Paychex Inc. (PAYX) $61.13 -1.78%
American Airlines Group (AAL) $45.75 -1.40%
O'Reilly Automotive Inc. (ORLY) $224.01 -1.22%
Tesla Inc (TSLA) $287.69 -1.21%
Comcast Corp. (CMCSA) $33.27 -0.78%
Mondelez International Inc. (MDLZ) $41.91 -0.76%
Charter Communications Inc. (CHTR) $310.48 -0.75%
Dish Network Corp. (DISH) $38.69 -0.72%
Vodafone Group Plc ADS (VOD) $29.83 -0.57%