Comic: Wall St.’s Q2 Earnings Season Gets Off To Mixed Start Amid Covid-19 Impact

Stocks on Wall Street put in an uneven performance last week as investors weighed a mixed start to the second-quarter corporate earnings season. For…

By financial2020myday , in Economy , at July 18, 2020

Stocks on Wall Street put in an uneven performance last week as investors weighed a mixed start to the second-quarter corporate earnings season.

For the week, the Dow Jones Industrial Average and S&P 500 rose 2.3% and 1.2%, respectively, while the NASDAQ Composite lost 1.1%.

Kicking off technology sector results, Netflix (NASDAQ:NFLX) tumbled 6.5% on Friday after the video streaming giant reported quarterly earnings that missed analyst expectations and forecast slower-than-expected subscriber growth for the rest of the year.

Before Netflix, all eyes were on results from the financial sector.

JPMorgan Chase (NYSE:JPM) reported better-than-expected quarterly results on Tuesday thanks to a massive surge in trading revenue.

Meanwhile, Goldman Sachs (NYSE:GS) reported quarterly numbers that easily beat analyst expectations on Wednesday, driven by a 93% surge in trading revenue.

In contrast, Wells Fargo (NYSE:WFC) suffered a $2.4 billion loss and slashed its dividend to 10 cents per share.

Next week, Q2 earnings season shifts into high gear with reports expected from market heavyweights including Microsoft (NASDAQ:MSFT), Tesla (NASDAQ:TSLA), and Intel (NASDAQ:INTC).