Netflix Rockets Higher; Goldman and Citigroup Beat Estimates

Stocks backed off of an energy-inspired rally enjoyed a day earlier as key housing and jobs data disappointed. The number of new homes being built in the U.S. rebounded in March, though at a slower-than-expected pace. Building permits were also below forecasts. Weekly jobless claims increased to a six-week high, though continuing claims fell to their lowest level since December 2000. Netflix (NFLX) was on a tear after quarterly sales jumped nearly 24%. The company increased both its domestic and international subscriber base by more than forecast. Goldman Sachs (GS) beat quarterly estimates as profit hit a five-year high.