Stocks ended Tuesday’s trading day mixed, with the tech-heavy Nasdaq leading the way and the Dow Jones industrial average lagging.
Financials slumped after concerning results from quarterly earnings from two major players, which Netflix soared after crushing subscriber expectations.
We’ve got all the headlines, but first, the scoreboard:
- Dow: 21,570.90, -59.47, (-0.27%)
- S&P 500: 2,460.01, +0.90, (+0.05%)
- Nasdaq: 6,342.11, +27.66, (+0.44%)
- US 10-year yield: 2.263%, -0.046
- WTI crude oil: $US46.42, +0.40, +0.87%
- Chipotle stumbled after customers got sick at one of its locations. The company closed a restaurant in Sterling, Virginia, after several customers reported severe illness after eating at the restaurant. The customers reported their illnesses to iwaspoisoned.com, which alerted Business Insider of the reports. The stock fell almost 5% in trading.
- Bank of America beat on earnings, but missed on a key metric: Net interest income (NII), which saw a surprise drop after climbing 7% in the first quarter. To add insult to injury, JPMorgan and Wells Fargo — two of the bank’s biggest rivals — saw their respective measures rise during the period. The stock finished the day slightly in the red.
- Goldman Sachs beat on earnings, but whiffed on FICC trading income. The bank delivered earnings per share of $US3.95, ahead of $US3.43 EPS expected. On the other hand, fixed income and commodities trading fell by 40% from the same quarter a year ago.
- The Senate Republican healthcare bill fell apart, and so did their back-up plan. The Republican effort to repeal and replace Obamacare in one fell swoop crumbled on Monday, and another revival doesn’t appear likely. Republican Sens. Jerry Moran and Mike Lee announced they would oppose a key procedural step to bring the Senate GOP bill, the Better Care Reconciliation Act, to the floor for debate. The two joined GOP Sens. Susan Collins and Rand Paul in opposing the motion.
- Netflix stock jumped after soaring past subscriber estimates. The streaming giant saw its stock rise over 2.5% in trading on Tuesday, which crushed short sellers.
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