Markets suffered a loss today, bringing the win streak to an end. Markets couldn't find any buyers today as energy was weak, along with financials. The Dow 30 lost 94, the S&P 500 gave back 14 and the Nasdaq 100 sold off 39. Tomorrow we get manufacturing news early, followed by the FOMC minutes in the afternoon.
Hershey Foods (NYSE: HSY) traded lower by 1.23% today after being downgraded to "Hold" from "Buy" at Argus. Shares still remain extra volatile following last weeks buyout news. Volume has been subsiding though as today trading volume was only slightly above average.
Netflix (NASDAQ: NFLX) outperformed the markets today (1.28%) after reports indicated that Comcast (NASDAQ: CMCSA) would integrate the streaming service into its X1 platform. Additionally, Netflix was added to the Best Idea List at Guggenheim, receiving a price target of $150. July 18th after the market close will be the much anticipated earnings release and conference call for Netflix.
Johnson & Johnson (NYSE: JNJ) was one of the best-performing Dow components today as shares continue to build on their recent momentum due to the volatility in global markets. Shares moved to new 2016 highs today, gaining another 0.81%.
The Financial Sector SPDR ETF (NYSE: XLF) traded lower today by 1.50% as European banking names continued to suffer. Banks such as Royal Bank of Scotland (NYSE: RBS) and Lloyds Banking (NYSE: LYG) lose 7.38% and 7.75%, respectively. European banking names continue to suffer due to increased post-Brexit pressure following the BoE's Financial Stability Report. Additionally, analysts comment that falling sovereign bond yields also weigh on the group.