LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

S&P 500 dips as energy shares fall; Netflix tumbles late after results

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Tue, Jul 17, 2018
03:00 am
Reuters
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

The S&P 500 ended slightly lower on Monday following a drop in oil prices that weighed on energy shares and offset a jump in financials as Bank of America`s results reinforced expectations of a strong U.S. earnings season.

Netflix shares ended the session up 1.2 percent but dropped more than 14 percent after the bell when it reported results. The company missed Wall Street forecasts for U.S. and international subscribers.

Nasdaq e-mini futures volume jumped after Netflix`s results and sold off sharply to end the session down 1 percent.

Facebook , Amazon.com and Google parent Alphabet - the other `FANG` stocks - were down more than 1 percent in after-hours trading. The stocks have led the technology and consumer discretionary sectors back to record-high levels in recent days.

During the regular session, the S&P energy sector <.spny> fell 1.2 percent, leading percentage declines among the 11 major S&P sectors. Shares of Exxon Mobil slid 1.0 percent and Chevron fell 0.9 percent. The stocks were among the biggest drags on the benchmark index, along with Microsoft , down 0.5 percent.

Oil prices slumped more than 4 percent as Libyan ports reopened and traders eyed potential supply increases by Russia and other producers.

Bank stocks rose, reversing their slide on Friday, when JPMorgan Chase , Citigroup and Well Fargo reported results. The S&P 500 financial index <.spsy> gained 1.8 percent, leading sector gains.

Bank of America rose 4.3 percent after the lender`s quarterly profit beat analysts` expectations on lower expenses and growth in loans and deposits. Goldman Sachs shares were up 2.2 percent ahead of its results, due Tuesday.

That wasn`t enough to extend recent gains in the S&P 500, which on Friday had its highest close in more than five months.

Investors may be reluctant to make big trades ahead of the pickup in earnings reports this week and Federal Reserve Chairman Jerome Powell`s first congressional testimony Tuesday and Wednesday, said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.

"We`re taking a bit of a break after a good run last week," he said.

The Dow Jones Industrial Average <.dji> rose 44.95 points, or 0.18 percent, to 25,064.36, the S&P 500 <.spx> lost 2.88 points, or 0.10 percent, to 2,798.43 and the Nasdaq Composite <.ixic> dropped 20.26 points, or 0.26 percent, to 7,805.72.

Sixty S&P 500 companies were due to report this week.

Analysts have forecast second-quarter earnings increased 21.1 percent from a year ago according to Thomson Reuters data.

Of the companies that have reported earnings through last week, 86.7 percent have topped earnings expectations, above the 75-percent average of the past four quarters.

The S&P 500 retail index <.spxrt> was up 0.3 percent. U.S. retail sales increased a strong 0.5 percent in June, Commerce Department data showed, indicating consumer spending accelerated in the second quarter.

Among stocks, shares of Arconic jumped 10.5 percent on a report that the maker of aluminium parts used in planes, cars and buildings is the subject of takeover interest from private-equity firms.

Amazon.com Inc edged up 0.5 percent as its `Prime Day` shopping event kicked off.

Declining issues outnumbered advancing ones on the NYSE by a 2.05-to-1 ratio; on Nasdaq, a 1.55-to-1 ratio favoured decliners.

The S&P 500 posted 16 new 52-week highs and two new lows; the Nasdaq Composite recorded 59 new highs and 65 new lows.

Trading volume was light, with about 5.4 billion shares changing hands on U.S. exchanges. That compares with the 6.6 billion daily average for the past 20 trading days, according to Thomson Reuters data.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

LATEST NEWS

7th Pay Commission: CONFIRMED! 3% DA, DR hike for government employees, pensioners of THIS state from March 1

Bank Holidays March 2021: RBI says banks will remain closed on these 5 days next month

Sovereign Gold Bond Scheme 2021: Issue Price fixed at Rs 4,662/gm

Aly Goni: Wanted Jasmin Bhasin and me to be the top two on ''Bigg Boss 14''

CTET Result 2021 announced by CBSE! Download scorecard, answer key at ctet.nic.in

Govt sets 50 lakh users threshold to define 'significant social media intermediary' under IT rules

ISRO First Mission in 2021: Countdown begins for launch of Brazilian satellite Amazonia1 and 18 co-passenger satellites onboard PSLVC51

West Bengal, Tamil Nadu, Kerala, Assam, Puducherry elections: Not just Voter ID, you can use any of these 11 ID proofs to cast vote

Apple, Croma join hands on Jobs'' birth anniversary

Exclusive: DCI to sign 18 MoUs worth Rs 14,000 cr, CMD Rajesh Tripathi tells Anil Singhvi; validates Zee Business’ BIG BREAKING report

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved