Wall Street drifts near records
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Netflix stock slid on Friday, despite a better-than-expected quarterly earnings report. Sometimes, good isn’t good enough for investors.Shares in the Stranger Things streamer dropped 5.1% to $1,209.24.
Wall Street opened higher on Friday as market sentiment continued to be upbeat, a day after the S&P 500 and Nasdaq Composite closed at record highs. The S&P 500 (SP500) +0.3%, the Dow (DJI) +0.2%, and the Nasdaq Composite (COMP:IND) +0.
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The Nasdaq rose to a record high on Thursday, leading a cautious climb across Wall Street's major indexes, as strong economic data lifted spirits and airline stocks took off on United Airlines' results.
President Donald Trump sent the U.S. stock market on a jagged round trip after saying he had “talked about the concept of firing” the head of the Federal Reserve
The favorite stock for four of Wall Street's most successful fund managers is the only member of the "Magnificent Seven" to have never completed a stock split.
Wall Street benchmarks closed modestly higher on Wednesday, with the Nasdaq Composite achieving its latest record finish, despite a chaotic half hour when news reports suggested U.S. President Donald Trump was set to fire Federal Reserve Chair Jerome Powell.
PepsiCo jumped 7.5% after delivering revenue and profit that topped Wall Street’s expectations. The drink and snack giant also stood by its financial forecasts given in April, which projected lower full-year profit than previous forecasts due to increased costs from tariffs and a pullback in consumer spending.
This metric has a 100% success rate of forecasting future stock market returns when back-tested over more than 150 years.
A healthy crop of earnings helped European stocks bust out of a four-day losing streak on Thursday, Wall Street was watching Netflix and the dollar bounced after U.S. President Donald Trump quashed talk he was about to fire Fed head Jerome Powell.