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Afternoon Note

Netflix Rallies

By Karina Hernandez, Senior Research Analyst
1/20/2023 1:39 PM

A nice session thus far with all sectors in the mix.  Communication Services is leading the way, as Wall Street praises Netflix’s (NFLX) results that showed healthy gains in subscriber growth, led by a strong content slate.

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Existing Home Sales

Down for the eleventh month in a row, existing home sales declined 1.5% month to month. This is the longest stretch since 1999, as buyers continue to face high mortgage rates and scarce inventory.

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Market breadth is fairly positive with advancers leading decliners by a roughly 2-to-1 margin at both the NYSE and the Nasdaq.

Market Breadth

NYSE

NASDAQ

Advancers

2,128

2,980

Decliners

902

1,413

New Highs

31

67

New Lows

15

26

Up Volume

1.41 billion

2.77 billion

Down Volume

422.53 million

634.6 million

 

A large batch of expiring options may add a bit of volatility into the close.


 

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