Just one day before the inauguration of Donald Trump the markets were lower. Financials were once again weak today with the (XLF ) down 0.43% on the day. The Dow 30 lost 72, the S&P 500 lost 8, and the Nasdaq 100 was off by 15. Tomorrow the focus will be on the inauguration of the new President of the United States and any comments that he may have when he speaks.
Netflix (NFLX ) enjoyed a nice 3.86% gain today after the streaming giant reported the biggest jump in subscriber growth in its history. The earnings report showed that the company added more than 7 million customers in the fourth quarter, "fueled by better-than-expected growth in international markets." Earnings and revenue also beat Wall Street expectations which send shares to new highs. This puts NFLX up over 11% on the year so far.
Exxon Mobil (XOM ) suffered a 1.80% decline today as UBS lowered the oil giant's stock to sell from neutral, pointing to the company's "sub-par metrics and its expensive valuation." This downgrade sent shares to new lows on the year and almost 10% below the highs set just a month ago. Earnings are set to be reported on January 31st.
Lockheed Martin (LMT ) grabbed traders attention today as Reuters reported that the defense contractor is close to a $9 billion deal with the Pentagon to supply the agency with F-35 fighter jets. If this happens it would bring the price of each F-35 below $100 million for the first time, according to Reuters. Shares were slightly higher on the news (+1.17%) and remain just under a technical resistance area of $260.