S&P 500 holds above 4,450 while Nasdaq 100 underperforms as Netflix shares take post-earnings battering By Frank_Macro SP500 Equities
adly after the company reported a surprise drop in subscribers. The company blamed its first decline in subscribers in decades on the Russo-Ukraine war and competition from rivals such as Disney+, though analysts also noted the global post-pandemic “reopening” effect also taking its toll.
Decent earnings from consumer staples giant Procter & Gamble and IT giant IBM helped lift cyclical and value equity market sectors which are disproportionately represented in the Dow. The S&P 500 GICS Consumer Staples sector was last up 1.4%, Real Estate was last up 1.8% and Health Care was last up 1.2%.
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