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Live Nasdaq Composite: NFLX Pops 3%, BAC Up in Skittish Markets
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Key Points
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The markets came out of the gate in a good mood, sending all three of the stock market averages higher, albeit fractional gains.
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Netflix is lifting the Nasdaq Composite higher on an analyst upgrade.
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Bank of America reported better-than-expected quarterly results.
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Investors are shifting their focus from tariffs to earnings.
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Markets Weigh Earnings and Tariff Uncertainty
The markets have turned lower as of mid-afternoon trading, shifting their focus from earnings to tariff uncertainty once again. All three of the major stock market averages are now in the red, including a fractional decline for the Nasdaq Composite. Based on the quarterly profits of the banks, consumers are holding their own in this economy despite the growing possibility of a recession rearing its head.
China has placed a target on the back of Boeing (NYSE: BA), advising airlines to avoid the company’s aircraft and sending the Dow stock lower by 1.5% on the day. Netflix (Nasdaq: NFLX) remains a bright spot for the Nasdaq Composite, gaining 6% on a positive analyst report ahead of the company’s quarterly results due out in the coming days. Reports are swirling that a $1 trillion market cap could be in Netflix’s not-too-distant future.
Earnings Bump
The markets are edging higher as the focus shifts from tariffs to a Q1 earnings season that has gotten off to a strong start. Financial stocks have kicked things off, with Bank of America (NYSE: BAC) and Citigroup (NYSE: C) setting the tone for gains today.
Technology stocks are moving higher as well, with a 1% advance as a sector. Netflix (Nasdaq: NFLX) is driving gains in the Nasdaq Composite after BofA analysts reiterated their “buy” rating on the stock ahead of the content streaming giant’s upcoming earnings next week. NFLX stock is up 6% today at last check.
Markets Stay Upbeat
The markets are in an upbeat mood, with all three of the stock market indices holding onto modest gains today. Nearly all sectors of the economy have made their way into the green today, led by financial stocks after Bank of America (NYSE: BAC) and Citi (NYSE: C) reported better-than-expected quarterly results. Netflix (Nasdaq; NFLX) is lifting the Nasdaq Composite on a positive note from Wall Street and in anticipation of the company’s upcoming quarterly results next week.
The markets came out of the gate in the green as investors turn their attention to earnings season. Bank of America (NYSE: BAC) is the latest financial institution to report, and its results were better than expected, helping to lift market sentiment in a tariff-ridden environment. Citigroup (NYSE: C) also reported a strong quarter, sending the stock 3% higher and continuing the impressive results among financial institutions.
While wider stock market gains are fractional, all three of the major stock market averages are moving higher today while sectors of the economy are split between red and green, as financials lead the gainers with a 0.56% advance.
Big Tech stocks in the Nasdaq Composite are mixed, with Nvidia (Nasdaq: NVDA) tacking on 1% while yesterday’s winner Apple (Nasdaq: AAPL) trades relatively flat. A notable gainer today is Netflix (Nasdaq: NFLX), which is adding nearly 3% at last check. NFLX stock is inching closer to the $1,000-per share threshold once again and is looking the other way at tariffs. Netflix stock has ballooned by over 50% in the past 12- month stretch.
Bank of America reported a strong quarter on robust interest income in the current volatile stock market backdrop. The stock is soaring nearly 5% in response. The financial institution reported an 11% profit increase to $7.4 billion while revenues climbed nearly 6% higher to $27.5 billion. Net interest income soared to $14.6 billion, exceeding Wall Street estimates, on strong equities trading volumes.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 49.41 (+0.11%)
Nasdaq Composite: Up 71.13 (+0.42%)
S&P 500: Up 14.99 (+0.22%)
Analyst Calls
Wall Street analysts are making calls on the following stocks today:
BofA analysts reiterated a “buy” rating on NFLX stock ahead of the content streaming company’s quarterly earnings due out next week, fueling today’s gains.
Roth MKM has begun coverage on RedCloud (Nasdaq: RCT) with a “buy” rating, owing to the e-commerce platform’s market opportunity.
Baird analysts like water tech stock Itron (Nasdaq: ITRI) for its predictable business in during uncertain times.
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