Key Takeaways
- Netflix Underwhelms With Earnings
- Layoff Announcements Continue
- Tesla Earnings After The Close
It was a very quiet Tuesday with stocks mostly unchanged. The S&P 500 was up just 0.1% while the Nasdaq Composite was down by a similar amount. Volume was relatively light as investors awaited some of the better known household names to report first quarter earnings.
Immediately after the close Tuesday, Netflix
NFLX
Elsewhere, more layoffs were announced and implemented at several companies. After previously having announced plans for layoffs, Amazon
AMZN
FB
After the close on Tuesday, Fox News and Dominion Voting Systems reached a settlement just before their trial was set to begin. The $787.5 million settlement is notable not just for its size, but also for the potential impact it will have across the industry.
An overnight report out of the UK showed inflation remains strong. That news sent UK bonds lower, taking US bonds with them. Yields on the benchmark 10 year note are now up over 4.25% after having fallen as low as 3.65% earlier this month. When the Fed meets in just a couple weeks, expectations are overwhelmingly suggesting a quarter point rate hike.
Finally, after the close tonight, Tesla
TSLA
tastytrade, Inc. commentary for educational purposes only. This content is not, nor is intended to be, trading or investment advice or a recommendation that any investment product or strategy is suitable for any person.
Read the full article here