Market Volatility Rises Following Tesla, Netflix Earnings Reports; Dow Gains For Ninth Session
Portfolio Pulse from Lisa Levin
The S&P 500 closed lower on Thursday due to losses in shares of Tesla Inc and Netflix Inc. Tesla's shares dipped 9.7% after reporting lower second-quarter gross margin. Netflix also contributed to the decline. The Dow, however, gained for the ninth straight session. The Nasdaq 100 dipped 2.28% amid these losses. The CBOE Volatility Index rose 1.7% to close at 13.99 on Thursday.
July 21, 2023 | 9:57 am
News sentiment analysis
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NEGATIVE IMPACT
Netflix shares contributed to the decline of the S&P 500 and Nasdaq 100.
Netflix shares declined, contributing to the overall drop in the S&P 500 and Nasdaq 100. This suggests a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Tesla's shares dipped 9.7% after reporting lower second-quarter gross margin.
Tesla's lower than expected second-quarter gross margin led to a significant drop in its share price. This negative earnings report is likely to impact the stock negatively in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100