Moneycontrol
Jul 18, 2017 07:39 AM IST | Source: Reuters

Wall Street ends flat; Netflix jumps after the bell

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2 percent, a day after scaling its loftiest levels since April 2015.

Wall Street ends flat; Netflix jumps after the bell

US stocks closed little changed in low volume on Monday as gains in utilities and consumer stocks offset declines in healthcare, with earnings news filtering out winners and losers across the board.

BlackRock shares fell 3.1 percent to USD 424.63 after the world's biggest asset manager's quarterly profit came in below expectations.

After the closing bell, Netflix shares jumped 8.5 percent to USD 175.45 following better than expected subscriber growth.

Procter & Gamble rose 0.5 percent to $87.55 as investor Nelson Peltz actively seeks a seat on P&G's board.

Health stocks on the S&P 500 slipped, partly weighed down by a delay in the US Senate's consideration of healthcare legislation after news over the weekend that Arizona Republican Senator John McCain would remain in his home state next week following a medical procedure.

"I think we've got to see some dry ink on the healthcare bill before you can make broad bets on that sector," said Erick Ormsby, CEO of Alcosta Capital Management in San Ramon, California.

"bulk of funds will come in as we see clarity on [the] healthcare bill."

The Dow Jones Industrial Average fell 8.02 points, or 0.04 percent, to 21,629.72, the S&P 500 lost 0.13 points, or 0.01 percent, to 2,459.14 and the Nasdaq Composite added 1.97 points, or 0.03 percent, to 6,314.43.

The S&P health sector fell 0.3 percent while utilities gained 0.4 percent and the consumer discretionary sector rose 0.26 percent.

Amazon led discretionary sector gains with a 0.8 percent increase to $1,010.04. Meal-kit company Blue Apron Holdings fell 10.5 percent to $6.59 after an Amazon unit filed a trademark for a competing meal-kit service earlier this month.

Advancing issues outnumbered declining ones on the NYSE by a 1.28-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favoured advancers.

In what could be the slowest full session by volume so far this year, about 5.16 billion shares changed hands on US exchanges, compared with the 6.51 billion daily average over the last 20 sessions.
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