Follow us on facebook


Dow Jones, Stock Market Near Key Level; Netflix Stock

The major stock indexes were on pace to snap their recent win streaks with moderate losses in today’s stock market. The Dow Jones industrials declined about 120 points. U.S. consumer prices fell for the first time in nine months. Leaderboard stock Starbucks (SBUX) sold off on an analyst downgrade, while FANG stock Netflix (NFLX) shrugged off the market weakness to rise 3% ahead of next week’s earnings results.




X



The tech-heavy Nasdaq composite fell 0.3%. The S&P 500 index declined 0.4% while the Dow Jones industrials moved down 0.5%. (For updates on this story and other market coverage, visit the Stock Market Today page.)

Dow Jones Stocks: Caterpillar Falls

Among the Dow Jones stocks, Nike (NKE) was mostly unchanged in the stock market today. The retailer is forming the right side of a new base formation, as it holds above its 50- and 200-day lines.

On the downside, Caterpillar (CAT) was one of the worst-performing Dow stocks in morning trade, falling over 1%. The stock is on pace to snap a five-day win streak. Shares are about 25% off their 52-week high.

Stock Market Earnings: Busy Week Ahead

Earnings season is rapidly approaching. Next week, a slew of companies will be reporting earnings, including Dow Jones stocks JPMorgan (JPM), GoldmanSachs (GS) and American Express (AXP).

Meanwhile, top growth stock Atlassian (TEAM) will report after the stock market close on Thursday. The software leader is just out of buy range from a cup with handle’s 89.92 buy point.

Starbucks Sells Off On Analyst Downgrade

Leaderboard stock Starbucks (SBUX) dropped 3% after Goldman Sachs downgraded the coffee giant from buy to neutral, citing China concerns. Starbucks stock remains under its 50-day line, as it builds a bullish flat base with a 69.08 buy point.

Yum Brands (YUM) was also downgraded at Goldman amid valuation concerns and worries about U.S. sales momentum at Pizza Hut and Taco Bell. Shares of Yum Brands declined 1.5% and are testing their 50-day line after a breakout above a flat base’s 92.31 entry.

IBD 50 Stocks To Watch: Netflix Stock Outperforms

Among the leading growth stocks, Netflix jumped 3% amid a number of analyst actions early Friday and is trying to reclaim its long-term 200-day moving average line. For the week, the FANG stock is up over 12%, as a new base takes shape. The video streaming platform will report earnings on Jan. 17 after the stock market close.

On the downside, Autohome (ATHM) plunged 9% to fall below its 50-day line.

YOU MIGHT ALSO LIKE:

How To Invest In The Stock Market

Dow Jones Industrial Average And Dow Stocks

Want More IBD Videos? Subscribe To Our YouTube Channel

Three Top Stocks Near Buy Points Amid New Stock Market Uptrend

IBD’s ETF Stock Market Strategy

Source link

No comments.

Leave a Reply