Stock market today July 17, 2020
July 17, 2020
Stock market today at the close
S&P 500: 3,224.73,+9.16(+0.28%)
Dow 30: 26,671.95,-62.76(-0.23%)
Russell 2000: 1,474.19,+6.63(+0.45%)
Stock market news
“New data Friday morning showed an ongoing improvement in the housing market, with both building permits and housing starts rising in June over May.
However, a separate report Friday morning unexpectedly showed a drop in consumer sentiment in the first part of July, as a resurgence in coronavirus cases in some parts of the country triggered a retreat in consumer optimism over the pace of economic recovery.
Over the past week, a rotation out of tech stocks and other high-growth shares that had led the market’s rally from March lows was under way. Shares of each of Facebook, Amazon, Microsoft and Apple were little changed Friday morning, steadying after steep run-ups over the past several months.
Peer tech giant Netflix (NFLX) saw its stock slump in early trading after delivering a weak outlook for the current quarter, suggesting the streaming company’s incredible surge of new users would slow in the second half of the year. Netflix expects to add 2.5 million new users in the third quarter – half as many as consensus analysts anticipated. Still, the company’s 10 million new users in the second quarter were better than the 8.3 million expected.
Before market open, BlackRock reported quarterly profit and revenue that topped consensus expectations, though long-term inflows of $62.2 billion were short of consensus estimates for $78.6 billion. While down sharply from the $125 billion in inflows in the same period last year, the result as an improvement over last quarter, when BlackRock saw net outflows for the first time in five years as investors stayed on the sidelines as the pandemic spread.”
Stock market data: https://finance.yahoo.com/news/stock-market-news-live-july-17-2020-221827634.html
Shares of Netflix, Inc. (NFLX) closed more than 6% lower at492.99-34.40 (-6.52%). Other trending stocks today were the following ones.
Moderna, Inc. (MRNA) stock continued its recent rally closing at 94.85+13.04 (+15.94%). The shares of NIO Inc. (NIO) fell more than 14%, closing at 11.09-1.85 (-14.32%). RumbleON, Inc. (RMBL) stock gained more than 100% closing at 25.66+14.94 (+139.37%). Another stock with large gains today was Verona Pharma plc (VRNA) stock closing at 10.20+5.38 (+111.62%).
Stock market data: Yahoo Finance
The stock market today had a narrow trading range, as the CBOE Volatility Index (VIX) fell at 25.53-2.47 (-8.82%).