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Netflix catapults Nasdaq to record, Goldman drags Dow

Tuesday, July 18, 2017 - 01:27

Wall Street ended mixed as Netflix's rally pushed Nasdaq to a record high while Goldman Sachs weighed on the Dow, with earnings taking investors' focus. Elly Park reports.

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Goldman Sachs dragged the Dow. But jump in Netflix shares limited losses on the S&P 500. The Nasdaq hit all time high. Netflix hit a record high following news of a solid subscriber growth. Goldman Sachs stock dropped after the bank reported a forty percent slump in bond trading revenue. Shares of Bank of America went along for the ride. BofA beat Wall Street estimates on strength in consumer banking and cost cuts. Last week, shares of JPMorgan, Wells Fargo and Citigroup took a beating on Wall Street after disappointing results. Jeff Tomasulo of Vespula Capital: (SOUNDBITE) JEFF TOMASULO, CHIEF EXECUTIVE OFFICER, AND HEAD PORTFOLIO MANAGER, VESPULA CAPITAL, LLC (ENGLISH) SAYING: "This is a hard environment for banks to increase their earnings and to succeed. We have low interest rates. You have complacent market, with low volume, so their trading volumes are down on their desks, and then you have what's going on in Washington, where you have a Republican Congress, Republican Senate, and a Republican president and we can't get anything done." U.S. dollar fell to a ten-month low after Republicans failed to repeal and replace Obamacare. Harley-Davidson fell after cutting forecast. Chipotle was down on the news that it shut a restaurant following complaints of severe illness from several diners. In Europe, stocks closed in the red on disappointing earnings

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Netflix catapults Nasdaq to record, Goldman drags Dow

Tuesday, July 18, 2017 - 01:27