The markets enjoyed another strong day today driven by earnings reports from some big names. The Dow 30 was higher by 215, the S&P 500 gained 128, and the Nasdaq 100 added 124 thanks to strong tech earnings. Going forward it's earnings earnings earnings. The market seems content to drop the focus on Washington and focus on what really drives the markets.
Netflix (NASDAQ: NFLX) shares popped 9.19% today after releasing earnings. The report was so good that 12 different analyst firms upgraded the stock in an effort to keep up with the rapid growth. Subscriber growth was, and is always the big focus and Netflix did not disappoint. The company added 1.96 million subscribers in the United States and 5.46 million subscribers in its international markets in the second quarter, beating analysts' average expectations. Shares are higher by 60% this year alone.
Goldman Sachs (NYSE: GS) also reported earnings today and traders treated the stock just like all the other banks who previously reported earnings. The Stock sold off 1.65% today despite beating Wall Street's estimates for earnings and revenue. Just like the other banks, Goldman reported record trading profits in equities and bonds. The stock is only higher by 1% on the year.
United Healthcare (NYSE: UNH) was a big driver in the Dow 30 today as they reported earnings that were better than expected as well. Shares were higher by 3.57% as the company raised their forward guidance as well. Shares are higher by 5% on the year.
In other news Walmart (NYSE: WMT) is changing the look of their website. The company announced that they would move away from so much of the Walmart branding in favor of a more, luxury feel. The company is trying to attract more high end shoppers by highlighting products from names like Lord and Taylor. Shares were higher by 1% on the news.