Yahoo Finance Daily
Stocks close higher as all eyes turn to Tesla, Netflix: Stock Market News Today
Wed Jul 19 2023Description
Stocks ended higher on Wednesday as investors digested early earnings reports and awaited results from Netflix and Tesla. The second quarter earning season has started off solidly, with better-than-feared reports from Wall Street Heavyweights. Housing starts declined in June. Results are due from Netflix and Tesla, with one question being whether the cooldown in inflation has impacted their margins. Carvana stock surged after the company announced a debt reduction deal.
Insights
Earnings reports drive market gains
Early earnings reports from Goldman Sachs and anticipation for results from Netflix and Tesla contributed to the higher stock market.
Solid start to second quarter earning season
The second quarter earning season began positively, with better-than-expected reports from major Wall Street companies.
Housing starts decline in June
Housing starts decreased in June compared to May's revised rate.
Anticipation for Netflix and Tesla earnings
Investors are eagerly awaiting the earnings reports from Netflix and Tesla, with a focus on the impact of inflation on Tesla's margins.
Carvana reduces debt, stock surges
Carvana's announcement of a debt reduction deal led to a significant increase in the company's stock price.
Chapters
- Stocks end higher on earnings reports
- Solid start to second quarter earning season
- Housing starts decline in June
- Upcoming earnings reports from Netflix and Tesla
- Carvana reduces debt, stock surges
Stocks end higher on earnings reports
00:00 - 04:52
- Stocks ended the trading day higher on Wednesday as investors digested early earnings from Goldman Sachs and awaited results from Netflix and Tesla
- The S&P 500 edged up 0.2 percent, while the Dow Jones Industrial Average traded up by 0.3 percent
- The tech-heavy Nasdaq composite was roughly flat
Solid start to second quarter earning season
00:00 - 04:52
- The second quarter earning season has gone off to a solid start, with better-than-feared reports from Wall Street Heavyweights helping lift the Dow to its seventh day of gains in a row on Tuesday
- Goldman Sachs reported that profit plunged significantly after CEO David Solomon forecast a headwind-heavy quarter shares dipped more than 1 percent in the pre-market trade
Housing starts decline in June
00:00 - 04:52
- Housing starts took a turn lower to a seasonally adjusted annual rate of 1.434 million units last month, down 8% from May's revised rate of 1.559 million units
Upcoming earnings reports from Netflix and Tesla
00:00 - 04:52
- Results are due from Netflix and Tesla, with one question being whether the cooldown in inflation has had any impact on their margins for EV maker Tesla in particular
- Tesla stock was up about 1.4% in afternoon trade on Wednesday, ahead of its earnings report set for release after the market close
- Netflix has quietly removed its lowest priced ad-free streaming plan in the U.S., just ahead of its quarterly earnings results on Wednesday
Carvana reduces debt, stock surges
00:00 - 04:52
- Carvana stock surged more than 30 percent after the company said it has signed a deal to reduce its debt by more than $1.2 billion