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Stock Market Today: Dow Jones, S&P 500 mixed on Netflix disappointment; Twitter Fray continues with Elon Musk’s tweet

Stock Market Today Mid-Morning Updates

Wednesday, the Dow Jones Industrial Average is up more than 200 points as investors anticipate another wave of high profile corporate earnings this week. Palantir Technologies (NYSE: PLTR) is higher today after investment firm RBC upgraded the company, citing several reasons. Analyst Rishi Jaluria upgraded Palantir’s rating from sector underperformance to performance. Jaluria believes that as the Russian-Ukrainian war drags on, governments around the world will continue to increase defense spending.

consumer business Procter & Gamble (NYSE:PG) is also higher on today’s opening bell after beating earnings and revenue estimates. For example, it posted adjusted earnings per share of $1.33, $0.04 above estimates. In fact, it recorded the largest year-over-year sales increase in two decades as demand remains high for its household products. This comes despite the price hike. In addition, the company also raised its organic sales forecast. Coinbase (NASDAQ:COIN) kicked off its long-awaited NFT market on Wednesday with a focus on building a social community for buyers and sellers. He hopes to deepen social engagement with the new NFT market.

Among the Dow Jones leaders, stocks of Apple (NASDAQ:AAPL) are down 0.26% today as Microsoft (NASDAQ: MSFT) is up 0.36%. Meanwhile, disney (NYSE: DIS) and Nike (NYSE:NKE) traded mixed on Wednesday. Among the financial leaders of the Dow, Visa (NYSE: V) is up 1.62% while JPMorgan Chase (NYSE: JPM) is also up 0.69%.

EV Leader Shares You’re here (NASDAQ: TSLA) are down 3.19% on Wednesday. Rival electric vehicle companies like Rivian (NASDAQ: RIVN) are down 5.74%. Lucid Group (NASDAQ: LCID) is also up 2.89% today. Chinese electric vehicle leaders like Nio (NYSE:NIO) and Xpeng Motors (NYSE: XPEV) are trading lower today.

Dow Jones today: the IMF cuts its global growth forecast.

After trading opened on Wednesday, the S&P 500 and Nasdaq are trading lower at 0.01% and 0.87% respectively. The Dow, however, is up 0.55%. Among listed index funds, the Nasdaq 100 tracker Invesco QQQ Trust (NASDAQ: QQQ) is down 1.01% as the SPDR S&P 500 ETF (NYSEARCA: SPY) is also down 0.02%.

The benchmark 10-year US Treasury yield continues to hover at high highs and currently sits at 2.86%, also at a pandemic-era high. Yields have soared in recent months as investors continue to sell their bonds on concerns about inflation and its damaging effects on the economy. Additionally, the International Monetary Fund has cut its forecast for global growth as the Russian-Ukrainian war drags on. He says the risks to the economy have risen sharply.

“The global economic outlook has been severely damaged, largely due to Russia’s invasion of Ukraine,” he added. Pierre-Olivier Gourinchas, economic adviser to the IMF, said in a blog post on Tuesday, on the occasion of the release of the IMF’s latest World Economic Outlook report.

[Read More] Top Stock Market News for Today April 20, 2022

Netflix stock plummets following subscriber losses and chilling outlook

In today’s news, we have netflix (NASDAQ:NFLX). Most of the attention around Netflix today would be the result of its latest quarterly earnings update. After yesterday’s closing bell, the company posted somewhat mixed results. For starters, he’s looking at earnings per share of $3.53 on revenue of $7.87 billion. For some perspective, that compares to Wall Street estimates of $2.89 billion and $7.93 billion respectively. In a larger scheme, most would consider these results to be commendable overall. However, NFLX stock is now plunging over 26% at today’s opening bell thanks to its subscriber count.

In detail, the total number of Netflix subscribers decreased by 200,000 throughout the quarter. This is a first for the company since October 2011. It seems to be the case as consumers look to cut their streaming spend amid rising costs across the board. With Netflix’s pandemic-era performance eclipsing those numbers, NFLX stock would be under pressure. Not to mention that Netflix is ​​currently forecasting losses of up to 2 million additional paid subscribers worldwide in the current quarter. Besides decelerating streaming trends, the company’s efforts to hamper password sharing between households could also contribute.

While all of this may be daunting for investors, Netflix seems to have its sights set on long-term growth. The company writes: “Streaming is trumping linear, as we predicted, and Netflix titles are hugely popular around the world.“In addition to that, Netflix is ​​also looking to expand its subscription plan offerings. CEO Reed Hastings mentions adding a plan, catering to customers who want to”a lower price and tolerate advertising.Safe to say, NFLX stocks are likely to turn heads in the stock market today.

Source: Trading View

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Twitter is the night? The Elon Musk saga continues on 04/20

Elsewhere, it seems Twitter (NYSE: TWTR) and You’re here CEO Elon Musk just can’t seem to stay out of the headlines. Today, the latest development in Musk-Twitter’s ongoing column once again comes from the billionaire investor’s Twitter page. The tweet in question reads:_______ is Night.“According to many speculators, this may be a reference to a 1934 novel by F. Scott Fitzgerald,”Tender is the night”. If so, it would be the second time Musk hinted at a potential takeover bid for Twitter stock last week.

Overall, some also suggest that the message could mean “Tonight is evening.In that case, it wouldn’t be all that surprising considering today is 4/20 and Musk has an affinity for the date. Either way, whatever it is, TWTR stock will be probably also in the spotlight. Not to mention that even Florida Governor Ron DeSantis recently spoke out in favor of Twitter accepting Musk’s buyout offer. As a result, this is likely due to the fact that the Florida pension fund owns stock in the company.As the company gets closer to stock market territory every day, it might be worth keeping an eye on a volatile stock market.

TWTR Stock
Source: Trading View

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Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | [email protected]

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | [email protected]

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