"Dow Surges 250 Points as Netflix and Tesla Stocks Take Center Stage"

1 min read
Source: The Wall Street Journal
"Dow Surges 250 Points as Netflix and Tesla Stocks Take Center Stage"
Photo: The Wall Street Journal
TL;DR Summary

The Dow Jones Industrial Average rose for a ninth consecutive session, while the S&P 500 and Nasdaq Composite were weighed down by a selloff in Netflix and Tesla shares. Netflix reported lower-than-expected revenue despite adding subscribers, and Tesla's CEO Elon Musk warned of potential price cuts. The narrow leadership of the stock-market rally this year is highlighted by the post-earnings selloff in these companies. U.S. bond yields rose, regional bank stocks declined, chip stocks fell due to a disappointing update from Taiwan Semiconductor Manufacturing Co., and Johnson & Johnson's shares rose after lifting its full-year guidance.

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