October 18, 2024

Dow Slips. Netflix Powers Tech Stocks Higher.

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Stocks opened mixed on Friday after Netflix earnings set an optimistic tone for the unofficial start to Big Tech earnings.

The S&P 500 was up 0.2%. The Nasdaq Composite rose 0.5%. The Dow Jones Industrial Average, which lacks Netflix among other key tech stocks and closed at a record on Thursday, was down 36 points, or 0.1%. The Dow was weighed down by American Express, especially.

Although earnings season has just begun, Bespoke Investment Group co-founder Paul Hickey says, “it’s worth pointing out that of the companies that have reported so far this season, we’ve seen more lowering forward guidance than raising forward guidance.”

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