Yahoo Finance Daily
Bank stocks lead Dow higher as stocks extend upswing: Stock Market News Today
Tue Jul 18 2023Description
Stocks extended their upswing as investors absorbed quarterly earnings from Bank of America and Morgan Stanley. Builder confidence in the housing market remained positive in July, marking the highest level since June of last year. Retail sales in June rose but fell short of expectations, raising concerns about the health of the economy. Netflix is set to report second quarter earnings, with investors optimistic about its position in the streaming industry. Comcast announced price increases for its Peacock streaming platform for the first time ever. Leaders of major financial institutions are reporting a resilient consumer and economy, suggesting a recession may come later than expected.
Insights
Positive Stock Market Performance
The stock market continued its upward trend as investors reacted positively to quarterly earnings reports from Bank of America and Morgan Stanley. This indicates growing confidence in the financial sector.
Strong Builder Confidence
Builder confidence in the housing market reached its highest level since June of last year, signaling a positive outlook for the construction industry and potential growth in the real estate market.
Concerns Over Retail Sales
Although retail sales in June showed an increase, they fell short of expectations. This raises concerns about the overall health of the economy and consumer spending habits.
Optimism for Netflix's Earnings
Investors are optimistic about Netflix's second quarter earnings, reflecting confidence in the company's position within the competitive streaming industry.
Price Increases for Comcast's Peacock
Comcast announced price increases for its Peacock streaming platform, marking the first time the company has raised prices for this service. This move may impact consumer adoption and subscription rates.
Resilient Consumer and Economy
Leaders of major financial institutions are reporting a resilient consumer and economy, suggesting that a recession may be delayed. This indicates overall stability and potential for continued economic growth.
Chapters
- Stocks Extend Upward Trend
- Positive Builder Confidence in Housing Market
- Mixed Retail Sales Performance
- Optimism for Netflix's Second Quarter Earnings
- Price Increases for Comcast's Peacock Streaming Platform
- Resilient Consumer and Economy Reported by Financial Institutions
Stocks Extend Upward Trend
00:00 - 04:34
- Stocks extended their upswing as investors absorbed quarterly earnings from Bank of America and Morgan Stanley.
- The Dow Jones Industrial Average rose over 1%, while the Nasdaq finished up around 0.7% and the S&P 500 was up about 0.71%.
Positive Builder Confidence in Housing Market
00:00 - 04:34
- Builder confidence in the housing market remained positive in July, marking the highest level since June of last year.
Mixed Retail Sales Performance
00:00 - 04:34
- Retail sales in June rose but fell short of expectations, raising concerns about the health of the economy.
Optimism for Netflix's Second Quarter Earnings
00:00 - 04:34
- Netflix is set to report second quarter earnings, with investors optimistic about its position in the streaming industry.
Price Increases for Comcast's Peacock Streaming Platform
00:00 - 04:34
- Comcast announced price increases for its Peacock streaming platform for the first time ever.
Resilient Consumer and Economy Reported by Financial Institutions
00:00 - 04:34
- Leaders of major financial institutions are reporting a resilient consumer and economy, suggesting a recession may come later than expected.