112.98 +0.01 (0.01%)
After hours: 4:00PM EDT
|Bid||113.09 x 1000|
|Ask||113.10 x 3000|
|Day's Range||111.47 - 113.22|
|52 Week Range||87.89 - 113.22|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.14%|
Shares of Netflix Inc. (nflx) sank 11% in morning trade on heavy volume, after the streaming video service reported disappointing second-quarter results, to pace its peers and and the broader market in losses.
The Consumer Discretionary Select Sector SPDR (XLY) , the largest exchange traded fund tracking the consumer discretionary, and rival consumer cyclical funds are delivering for investors this year. Cap-weighted consumer discretionary ETFs, such as XLY, usually feature massive weights to Amazon.com Inc. (AMZN). XLY devotes almost 23% of its weight to Amazon, or more than triple the weight the ETF assigns to its second-largest holding.
As we’ve discussed previously in this series, the escalating trade tensions haven’t been able to support gold much in 2018 mainly due to the simultaneous appreciation in the US dollar (USDU), which has capped gold’s gains. While the index for current conditions came in as expected, the sentiment over future business conditions and income prospects declined. Investors should note that consumer spending (XLY) constitutes more than two-thirds of the US economy.
Amazon.com Inc. (amzn) said Tuesday it will create more than 600 jobs in the Ottawa, Canada suburb of Orleans as it plans to build a one-million square foot fulfillment center. Currently, Amazon employs 2,000 full-time associates in Ontario and has more than 6,000 employees in Canada. Amazon's stock was little changed in premarket trade.
EBay Inc.'s stock (ebay) dropped 1.6% in premarket trade Tuesday, after the e-commerce company was downgraded at SunTrust Robinson Humphrey, citing expected headwinds from changes to sales-tax laws. Analyst Youssef Squali cut his rating to hold, after being at buy since Jan. 12, and lowered his stock price target to $40 from $48. Squali said he believes the U.S. Supreme Court ruling last month to reverse the 1992 precedent that states can require collection of sales tax without a physical presence increases the likelihood of a slowdown in gross merchandise value growth in 2019 and beyond.
President Trump has nominated Brett Kavanaugh to fill Justice Anthony Kennedy’s seat on the Supreme Court. Yahoo Finance’s Seana Smith, Rick Newman and Dion Rabouin discuss.