Stock Market News: Rivals Threaten Netflix; Tesla Charges Up
Wall Street started the session Tuesday morning in a modestly good mood, as some positive comments on the status of trade negotiations between the U.S. and China helped improve sentiment among market participants. Investors have generally looked for even the smallest bit of good news on the trade front as a reason for general optimism about the stock market's prospects, and today was no different. But early gains proved fleeting, and as of 11 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 16 points to 27,893. The S&P 500 (SNPINDEX: ^GSPC) climbed 2 points to 3,138, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 12 points to 8,634.
Among popular stocks, the mood was more mixed. Netflix (NASDAQ: NFLX) has some investors worried about the rising competition it's facing in the video-streaming industry. However, Tesla (NASDAQ: TSLA) managed to get past some recent controversies to earn positive comments from analysts.
Shares of Netflix dropped 2% after the streaming video specialist faced negative comments from Wall Street analysts. Needham decided to downgrade the stock from hold to underperform, with dire projections about Netflix's immediate future prospects.
Source Fool.com
