The markets were lower today as investors responded to the increased likelihood of a rate hike when the Fed meets again. The Dow 30 was lower by 30, the S&P 500 lost 7, and the Nasdaq 100 lost 21. Tomorrow the scheduled news is light so investors will be looking for any tradeable news or sector opportunities.
Netflix (NASDAQ: NFLX) shares added 2.01% today as investment analyst UBS upgraded the online movie streaming provider to buy from neutral. They also raised their price target on the stock to $175 from $136 dollars a share. The investment firm announced that they expect to see "strong global subscriber growth from Netflix for this quarter." Shares are up over 13% on the year and remain near the highs of the year.
Tyson Foods (NYSE: TSN) shares sold off 2.52% today on news that a "strain of bird flu was found in a Tennessee chicken breeding facility affiliated with the meat producer".The US Department of Agriculture announced this today and Tyson said it is working with local and USDA officials to contain the virus. The USDA said there is no risk to consumers but investors saw the risk and sold off shares almost all day long. The move today brings shares back to the flat level for the year.
General Motors (NYSE: GM) shares were lower by 0.84% today after GM officially announced it is "selling its unprofitable Opel and Vauxhall European brands to PSA Group, which makes Peugeot and Citroen cars, for $2.3 billion." The deal will create Europe's second-biggest car maker after Volkswagen. Shares were lower today but still remain near highs of the year, up over 8%.