Nasdaq futures slide as Tesla and Netflix results damp earnings optimism

📆 7/20/2023 11:43 AM
📰 MarketWatch

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Nasdaq futures were underperforming early Thursday, after results from Tesla and Netflix were not well received by traders.

Nasdaq futures were underperforming early Thursday, after results from Tesla and Netflix were not very well received by traders.

How are stock-index futures trading On Wednesday, the Dow Jones Industrial Average DJIA rose 109 points, or 0.31%, to 35061, the S&P 500 SPX increased 11 points, or 0.24%, to 4566, and the Nasdaq Composite COMP gained 4 points, or 0.03%, to 14358. Helping drive those gains were Tesla TSLA , up 136% so far in 2023, to sport a price-to-projected 2023 earnings ratio of 86, and Netflix NFLX , up 62% and a P/E ratio of 42, according to FactSet.

Susannah Streeter, head of money and markets at Hargreaves Lansdown, said that both could be vulnerable to a deterioration in household sentiment.

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