It's a Bad Day for Netflix

But overall, stocks closed mostly higher
By Newser Editors and Wire Services
Posted Jul 18, 2019 3:21 PM CDT
It's a Bad Day for Netflix
Trader Dennis Maguire works on the floor of the New York Stock Exchange, Thursday, July 18, 2019.   (AP Photo/Richard Drew)

Stocks shook off early losses and closed mostly higher on Wall Street as technology and bank stocks rallied Thursday, the AP reports. IBM rose 4.5% Thursday after reporting solid results. The company, along with Apple, helped lift the technology sector to lead the broader gains. Banks led financial stocks higher. BB&T rose 2.8% and SunTrust Banks rose 2.7%.

Major indexes were down most of the day after Netflix reported a slump in new subscribers that sank its stock and took other communications companies down with it. That sector remained the biggest loser of the day. Netflix sank 10.3%. The S&P 500 rose 10 points, or 0.4%, to 2,995. The Dow Jones Industrial Average edged up 2 points to 27,222. The Nasdaq added 22 points, or 0.3%, to 8,207.

(Read more stock market stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.