October 18, 2024October 18, 2024

Dow Jones Today: Stock Futures Mixed as Dow Retreats From Record; Netflix Jumps

Posted By: keaton

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Stocks were on track for a mixed open on Friday morning, with the Nasdaq advancing alongside Netflix (NFLX) shares and the Dow Jones Industrial Average lagging after closing at a record high yesterday.

Nasdaq futures traded about 0.6% higher in premarket trading on Friday, while S&P 500 futures advanced 0.2% and Dow futures were off about 0.2%.

Shares of Netflix jumped after the streaming giant’s quarterly results topped estimates. The company reported revenue grew 15% in the quarter and net income increased about 40% to more than $2 billion.

Apple (AAPL) shares also advanced in premarket trading amid reports that the new iPhone 16 is selling better in China, one of Apple’s key markets, than its predecessor model.

Shares of CVS Health (CVS) plummeted after the pharmacy and insurance company announced the replacement of Chief Executive Officer Karen Lynch with David Joyner, a CVS veteran who most recently ran Caremark, its pharmacy benefit manager.

The economic data calendar was light on Friday. The number of new housing construction permits issued in September came in slightly below expectations, while builders broke ground on about as many units as economists expected.

Treasury yields fell slightly following the release of Friday’s housing data. The 10-year Treasury yield, which climbed above 4.1% very early Friday morning, fell to 4.09%.

Gold futures continued to advance, climbing to a record high of more than $2,730 an ounce. Silver also extended its rally, rising to about $32.50. Bitcoin held steady near a three-month high.

Stock Futures Mixed as Dow Retreats From Record High

39 minutes ago

Futures contracts connected to the Dow Jones Industrial Average were off about 0.2% in premarket trading on Friday.

S&P 500 futures were up 0.2%.

Nasdaq 100 futures got a boost from surging Netflix stock, rising about 0.6% Friday morning.

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