Nasdaq Composite Live: NFLX (Nasdaq: NFLX), WWW (NYSE: WWW) Rise in Uncertain Markets
Live Updates Live Coverage Updates appear automatically as they are published. Markets Reeling 10:06 am by Gerelyn Terzo The Dow Jones Industrial Average has widened its losses to over 600 points for a 1.7% decline on the day. A tech-stock sell-off is dragging the Nasdaq Composite lower by 2.4%, while the S&P 500 is down […] The post Nasdaq Composite Live: NFLX (Nasdaq: NFLX), WWW (NYSE: WWW) Rise in Uncertain Markets appeared first on 24/7 Wall St..
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Markets Reeling
The Dow Jones Industrial Average has widened its losses to over 600 points for a 1.7% decline on the day. A tech-stock sell-off is dragging the Nasdaq Composite lower by 2.4%, while the S&P 500 is down close to 2%. The markets are reeling on persistent tariff uncertainty, holding out for trade deals to emerge before committing to gains. President Trump is also sparring with Fed Chairman Jerome Powell, adding yet another layer of uncertainty to these jittery markets. Netflix (Nasdaq: NFLX) stock remains a bright spot, though the stock has trimmed its gains to 1.6% on the day.
The markets are extending last week’s sell-off, with all three of the major stock market averages in the red this morning. Stocks are lower on lingering tariff uncertainty, as the Trump administration continues to wheel and deal with countries around the world. Netflix (Nasdaq: NFLX) is the exception today, rising over 3% on the heels of the content streaming company’s quarterly results.
Otherwise, all sectors of the economy are lower today, with energy, consumer discretionary and technology at the bottom of the heap with losses of between 1.7% and 2.2%. Big Tech stocks are lower, including a 3.5% decline in Nvidia (Nasdaq: NVDA) and 5.5% decline in Tesla (Nasdaq: TSLA). Baird has upgraded its rating on footwear play Wolverine Worldwide (NYSE: WWW) to an “outperform” rating from “neutral,” citing its strategic industry positioning. After hovering near its 52-week low, the stock is climbing out of the woods.
Netflix stock is rising on a better-than-expected Q1 earnings print in a sign that consumers are likely to hold onto their subscriptions even in an economic slowdown. The stock also appears to be tariff proof compared with the rest of the technology sector, resulting in a bullish outlook on the stock.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 452.53 (-1.16%)
Nasdaq Composite: Down 225.36 (-1.38%)
S&P 500: Down 60.61 (-1.15%)
Market Movers
In the cryptocurrency sphere, digital asset exchange Coinbase (Nasdaq: COIN) and MicroStrategy (Nasdaq: MSTR) are rising today, up 1% and 1.5%, respectively.
Analyst firm Jefferies has reiterated its buy rating on Google parent company Alphabet (Nasdaq: GOOGL) as Wall Street awaits quarterly results in the coming days.
Piper Sandler analysts lifted their price target on Netflix stock to $1,150 while Argus placed a price target of $1,200 on NFLX stock in response to earnings results. Morgan Stanley reiterated its “overweight” rating on NFLX stock.
The post Nasdaq Composite Live: NFLX (Nasdaq: NFLX), WWW (NYSE: WWW) Rise in Uncertain Markets appeared first on 24/7 Wall St..