US pre-open: Dow slightly higher, Amazon and Netflix lift Nasdaq
By Iain Gilbert
Date: Friday 20 Jan 2023
(Sharecast News) - Wall Street stocks were in the green early on Friday despite concerns regarding US monetary policy and weaker earnings.
As of 1540 GMT, the Dow Jones Industrial Average was up 0.12% at 33,083.44, while the S&P 500 advanced 0.54% to 3,919.79 and the Nasdaq Composite came out the gate 1.04% firmer at 10,965.58.
The Dow opened 38.88 points higher on Friday, taking a small bite out of losses recorded in the previous session.
Earnings from streaming giant Netflix were in focus at the opening bell, with the company posting stronger-than-expected subscriber growth but quarterly earnings that missed analysts' estimates, while market participants also digested news that Google parent company Alphabet will lay off approximately 12,000 staff.
Also drawing an amount of investor attention, International Monetary Fund managing director Kristalina Georgieva cautioned that while the global economic outlook has begun to improved, there was still a long way to go. She highlighted that while inflation was now easing and that China's reopening looked set to aide global growth, ongoing risks remained, including higher oil and gas prices and the Ukraine-Russia war.
On the macro front, existing home sales fell 1.5% to a seasonally adjusted annual rate of 4.02m in December, according to the National Association of Realtors, slightly above market forecasts of 3.96m. Last month's fall marks an eleventh straight month of falling home sales, the longest stretch since 1999.
Elsewhere, Federal Reserve bankers Patrick Harker and Christopher Waller will deliver speeches on Friday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Microsoft Corp. (MSFT) $235.88 1.70%
American Express Co. (AXP) $148.41 1.06%
Nike Inc. (NKE) $125.50 0.78%
Walt Disney Co. (DIS) $99.84 0.77%
International Business Machines Corporation (CDI) (IBM) $141.45 0.59%
Visa Inc. (V) $221.65 0.56%
McDonald's Corp. (MCD) $264.71 0.43%
Dow Chemical Co. (DOW) $56.81 0.37%
Caterpillar Inc. (CAT) $246.46 0.29%
Salesforce.Com Inc. (CRM) $146.79 0.26%
Dow Jones - Fallers
3M Co. (MMM) $117.25 -1.00%
Cisco Systems Inc. (CSCO) $46.05 -0.88%
Merck & Co. Inc. (MRK) $109.00 -0.81%
Home Depot Inc. (HD) $308.44 -0.78%
Unitedhealth Group Inc. (UNH) $480.93 -0.71%
Boeing Co. (BA) $205.64 -0.70%
Procter & Gamble Co. (PG) $141.46 -0.68%
Verizon Communications Inc. (VZ) $39.79 -0.67%
Johnson & Johnson (JNJ) $168.74 -0.46%
Apple Inc. (AAPL) $134.83 -0.33%
S&P 500 - Risers
Svb Financial Group (SIVB) $283.31 13.31%
Netflix Inc. (NFLX) $337.55 6.90%
PPG Industries Inc. (PPG) $130.26 5.38%
Alphabet Inc. Class C (GOOG) $98.94 5.36%
Alphabet Inc. Class A (GOOGL) $97.89 5.20%
Bread Financial Holdings, Inc. (BFH) $37.92 4.78%
Synchrony Financial (SYF) $34.12 4.73%
Regions Financial Corp. (RF) $22.61 4.24%
Capital One Financial Corp. (COF) $101.79 3.96%
State Street Corp. (STT) $83.44 3.63%
S&P 500 - Fallers
American Tower Corp (Reit) (AMT) $217.43 -2.65%
Corning Inc. (GLW) $35.06 -1.92%
NextEra Energy Inc. (NEE) $81.22 -1.66%
Eversource Energy (ES) $78.46 -1.65%
DTE Energy Co. (DTE) $110.71 -1.64%
Southern Co. (SO) $65.43 -1.53%
Centerpoint Energy Inc. (CNP) $29.83 -1.49%
Duke Energy Corp. (DUK) $100.49 -1.45%
Nordstrom Inc. (JWN) $17.22 -1.32%
Public Service Enterprise Group Inc. (PEG) $59.24 -1.30%
Nasdaq 100 - Risers
Netflix Inc. (NFLX) $337.55 6.90%
Baidu Inc. (BIDU) $135.80 5.94%
Alphabet Inc. Class C (GOOG) $98.94 5.36%
Alphabet Inc. Class A (GOOGL) $97.89 5.20%
Charter Communications Inc. (CHTR) $395.24 2.87%
Tesla Inc (TSLA) $130.62 2.71%
Qurate Retail Inc. (QRTEA) $1.93 2.66%
Take-Two Interactive Software Inc. (TTWO) $104.97 2.65%
Trip.com Group Limited (TCOM) $38.54 2.55%
JD.com, Inc. (JD) $60.90 2.48%
Nasdaq 100 - Fallers
Ross Stores Inc. (ROST) $114.60 -0.99%
Analog Devices Inc. (ADI) $161.56 -0.96%
Cisco Systems Inc. (CSCO) $46.05 -0.88%
Seagate Technology Plc (STX) $57.70 -0.84%
American Airlines Group (AAL) $16.15 -0.83%
Gilead Sciences Inc. (GILD) $83.02 -0.72%
Broadcom Inc. (AVGO) $560.24 -0.53%
Mondelez International Inc. (MDLZ) $63.53 -0.49%
T-Mobile Us, Inc. (TMUS) $144.51 -0.43%
Kraft Heinz Co. (KHC) $39.87 -0.42%
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