CNBC Daily Open: A mixed bag of earnings
CNBC Daily Open: A mixed bag of earnings


This report is from at this time’s CNBC Daily Open, our worldwide markets publication. CNBC Daily Open brings buyers up to the mark on every little thing they should know, regardless of the place they’re. Like what you see? You can subscribe here.

A display shows the Dow Jones Industrial Average after the closing bell on the ground on the New York Stock Exchange on Dec. 13, 2023.

Brendan Mcdermid | Reuters

What it’s worthwhile to know at this time

Dow retreats
U.S. shares principally gained on Tuesday with the benchmark
S&P 500 marking its third straight document shut. The tech-heavy Nasdaq Composite additionally closed 0.4% larger.  But the blue chip Dow Jones Industrial Average retreated, dipping below the 38,000 stage that was crossed for the first time on Monday, following weak company earnings.

Netflix’s subscribers bounce
Streaming big Netflix added greater than 13 million new subscribers in the fourth quarter, beating Wall Street’s estimates. The inventory surged 8% in after-hours buying and selling. Earlier Tuesday, Netflix and TKO Group Holdings introduced a 10-year deal that can enable the streaming platform to air WWE’s flagship program “Raw” starting subsequent yr.

Haley’s showdown with Trump
Former South Carolina Gov. Nikki Haley is locked in a fierce battle with former President Donald Trump as voters in New Hampshire cast the primary major votes of the 2024 presidential election. It’s crunch time for Haley, who’s the final Republican candidate within the subject seeking to reduce into Trump’s lead, after all of the others dropped out.

Alphabet cuts ties with Aussie AI agency
Alphabet has severed ties with Appen, the synthetic intelligence information firm, which performed a key position in coaching Google’s chatbot Bard. Appen, based mostly in Australia, stated it had “no prior data of Google’s determination to terminate the contract.” 

[PRO] Retail buyers cautious of Bitcoin
A Deutsche Bank survey discovered that greater than a 3rd of respondents imagine bitcoin will fall under $20,000 by the tip of this yr. The financial institution polled 2,000 customers throughout the U.S., U.Ok. and Europe after the Securities and Exchange Commission authorized the ETFs earlier this month. It confirmed retail buyers aren’t utterly offered on the brand new funds.  

The backside line

The newest batch of company earnings was a mixed bag for Wall Street. Several blue-chip corporations reported reasonably lackluster outcomes that dragged the 30-stock Dow into the pink in Tuesday’s important buying and selling session. 

3M dropped as a lot as 11% following weak steering, whereas D.R. Horton fell greater than 9% after the homebuilder missed Wall Street’s consensus estimate for per-share earnings. Lockheed Martin additionally fell greater than 4% after giving a weak outlook.  

Still, there have been different vibrant spots that helped to raise the broader market. Most notable was Netflix, which reported earnings after the shut.

Shares of the streaming big jumped extra that 8% in prolonged buying and selling after the corporate stated it added greater than 13 million subscribers throughout the fourth quarter, beating Wall Street’s estimates. This brings its whole subscriber rely to an all-time excessive of 260.8 million.

Beyond earnings, buyers will even be paying shut consideration to the Republican major as voters in New Hampshire forged the primary major votes of the 2024 presidential election. This might be a make-or-break for former South Carolina Gov. Nikki Haley, who’s seeking to problem former President Donald Trump’s huge lead.

Haley and Trump are the final ones standing within the GOP subject, after Florida Gov. Ron DeSantis dropped out Sunday.

Results might be tallied within the coming hours and a clearer image will emerge on whether or not Haley can cease Trump’s march towards the Republican nomination.

— CNBC’s Hakyung Kim contributed to this report.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *