US open: Stocks head south as Netflix weighs on Nasdaq
By Iain Gilbert
Date: Friday 21 Jan 2022
(Sharecast News) - Wall Street stocks were in the red early on Friday as Netflix weighed on the tech-heavy Nasdaq and bond yields eased off somewhat but remained elevated.
As of 1515 GMT, the Dow Jones Industrial Average was down 0.34% at 34,599.04, while the S&P 500 was 0.87% softer at 4,443.51 and the Nasdaq Composite came out the gate 1.37% weaker at 13,960.00.
The Dow opened 116.35 points lower on Friday, extending losses recorded in the previous session after this week's jobless claims figures came in hotter than expected.
The yield on the benchmark 10-year Treasury note was still in focus at the open on Friday, although the note slipped back slightly and was hovering at around 1.746% ahead of the Federal Reserve Bank's two-day meeting next week.
In the corporate space, Netflix shares tumbled in early trading after the streaming giant's fourth-quarter earnings revealed a slowdown in subscriber growth throughout the period, while Peleton shares were also in focus after news broke that the company will temporarily cease production of its fitness products.
On the macro front, the Conference Board's leading index increased 0.8% in December to 120.8, following a 0.7% increase in November, suggesting the economy will continue to expand well into the spring.
Still to come, Treasury secretary and former Federal Reserve chair Janet Yellen will deliver a speech at 1630 GMT.
No major earnings were slated for release on Friday.
Dow Jones - Risers
Procter & Gamble Co. (PG) $164.89 1.78%
Johnson & Johnson (JNJ) $167.35 1.27%
McDonald's Corp. (MCD) $256.33 1.26%
Nike Inc. (NKE) $144.10 0.96%
Amgen Inc. (AMGN) $230.88 0.87%
Coca-Cola Co. (KO) $61.26 0.84%
Intel Corp. (INTC) $52.47 0.83%
Unitedhealth Group Inc. (UNH) $466.72 0.80%
Travelers Company Inc. (TRV) $166.42 0.75%
Verizon Communications Inc. (VZ) $53.78 0.70%
Dow Jones - Fallers
Walt Disney Co. (DIS) $138.09 -6.46%
Boeing Co. (BA) $207.33 -3.20%
Salesforce.Com Inc. (CRM) $220.45 -1.12%
Dow Chemical Co. (DOW) $57.18 -1.09%
Microsoft Corp. (MSFT) $298.37 -1.07%
JP Morgan Chase & Co. (JPM) $146.45 -0.82%
Caterpillar Inc. (CAT) $215.00 -0.75%
Goldman Sachs Group Inc. (GS) $345.72 -0.68%
Apple Inc. (AAPL) $163.41 -0.67%
Cisco Systems Inc. (CSCO) $57.70 -0.65%
S&P 500 - Risers
Mondelez International Inc. (MDLZ) $69.24 2.18%
Church Dwight Co Inc. (CHD) $103.99 1.97%
Chubb Corp. (CB) $196.84 1.93%
Kimberly-Clark Corp. (KMB) $144.18 1.84%
J. M. Smucker Co. (SJM) $143.69 1.81%
Clorox Co. (CLX) $179.15 1.80%
CF Industries Holdings Inc. (CF) $65.45 1.79%
Procter & Gamble Co. (PG) $164.89 1.78%
General Mills Inc. (GIS) $69.70 1.78%
Wisconsin Energy Corp. (WEC) $98.38 1.76%
S&P 500 - Fallers
Netflix Inc. (NFLX) $390.17 -23.23%
Huntington Bancshares Inc. (HBAN) $15.11 -9.38%
Svb Financial Group (SIVB) $603.96 -6.79%
Walt Disney Co. (DIS) $138.09 -6.46%
Intuitive Surgical Inc. (ISRG) $274.47 -6.24%
Ecolab Inc. (ECL) $200.88 -5.77%
Devon Energy Corp. (DVN) $46.06 -5.28%
Nucor Corp. (NUE) $95.86 -4.46%
CSX Corp. (CSX) $33.76 -4.20%
Apache Corp. (APA) $30.11 -3.65%
Nasdaq 100 - Risers
Mondelez International Inc. (MDLZ) $69.24 2.18%
Trip.com Group Limited (TCOM) $25.60 1.55%
Kraft Heinz Co. (KHC) $37.57 1.38%
Costco Wholesale Corp. (COST) $489.21 1.32%
Check Point Software Technologies Ltd. (CHKP) $126.14 1.18%
Gilead Sciences Inc. (GILD) $68.60 1.17%
Incyte Corp. (INCY) $75.62 1.15%
Cognizant Technology Solutions Corp. (CTSH) $86.60 1.06%
Comcast Corp. (CMCSA) $50.67 0.89%
Starbucks Corp. (SBUX) $96.56 0.88%
Nasdaq 100 - Fallers
Netflix Inc. (NFLX) $390.17 -23.23%
Intuitive Surgical Inc. (ISRG) $274.47 -6.24%
CSX Corp. (CSX) $33.76 -4.20%
Align Technology Inc. (ALGN) $472.88 -3.63%
Paypal Holdings Inc (PYPL) $167.35 -3.42%
Micron Technology Inc. (MU) $82.23 -3.34%
American Airlines Group (AAL) $16.26 -2.98%
Qurate Retail Inc. (QRTEA) $7.20 -2.96%
Seagate Technology Plc (STX) $97.65 -2.77%
Tesla Inc (TSLA) $973.12 -2.32%
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