ECONOMIC SILUET: Netflix stock is back? | Fed to pause?

Kamis, 17 Oktober 2019

Netflix stock is back? | Fed to pause? | Turkey agrees to pause attacks

THU, OCT 17, 2019

EVENING BRIEF

AS OF THU, OCT 17, 2019 • 04:05 ET

DJIA		27025.88
		+0.09%	+23.90

S&P 500		2997.95
		+0.28%	+8.26

NASDAQ		8156.85
		+0.40%	+32.67

Most Active

DOW
NAME	LAST	CHG	%CHG
MSFT	139.69	-0.72	-0.51%
AAPL	235.28	+0.91	+0.39%
INTC	51.86	-0.58	-1.12%

S&P 500
NAME	LAST	CHG	%CHG
BAC	30.26	+0.09	+0.30%
NFLX	293.35	+7.07	+2.47%
AMD	31.14	+0.33	+1.07%

NASDAQ
NAME	LAST	CHG	%CHG
NFLX	293.35	+7.07	+2.47%
AMD	31.14	+0.33	+1.07%
MSFT	139.69	-0.72	-0.51%

EDITOR'S NOTE

The inexorable march of technology is no different at Goldman Sachs.

CNBC's Hugh Son writes that average pay at the firm fell to $246,216 in the first nine months of 2019. That may still sound like a lot to anyone outside the investment banking industry, but during the same period in 2009 it was $527,192.

Goldman is using the money it once used to compensate employees for software.

"We are in the midst of the biggest marriage of tech and finance in history," said Mike Mayo, a veteran bank analyst at Wells Fargo. "It means more bots relative to bankers, more machines, more automation, more scale. "

Goldman Sachs also didn't have the best quarter. The firm fell short of earnings expectations for the third quarter, as many of its competitors, including J.P. Morgan Chase and Bank of America, outperformed.

Stock were slightly higher on Thursday, as investors digested more earnings reports.

The good news has often been tempered by worries about future quarters. Netflix stock, for example, was trading higher after reporting better-than-expected earnings after the closing bell on Wednesday. But it gave back some of those gains on Thursday as investors began placing more weight on the phalanx of new competitors, including Disney+ and Apple TV+, getting ready to launch.

Tomorrow is another day for earnings, with reports scheduled from American Express, Coca-Cola and Kansas City Southern.

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