Media ININ Economy We Trust
Media IN New york, July 18, 2019, SPA
Wall Street’s main indexes were set for their third day of losses on Thursday, as Netflix reported a surprise fall in U.S. subscribers in a downbeat start to results from high-growth companies.
Shares of the streaming pioneer tumbled 11.1% to their lowest since late-January at $321.84, as the company also missed targets for new subscribers overseas at a time when it has staked its future on global expansion.
Losses in Netflix triggered a 1.58% fall in the communication services sector, one of the best-performing S&P sectors so far this year.
Technology giant Microsoft Corp slipped 0.8% ahead of its results after markets close.
As second-quarter earnings rolled in this week, the three main Wall Street indexes retreated slightly from record highs and are set for their steepest weekly fall in seven weeks.
Investors are looking for concrete developments in trade talks between the United States and China, while they await the Federal Reserve’s policy meeting at the end of July where the central bank is widely expected to cut interest rates.
