Netflix stock price target cut to $360 from $425 at UBS

Netflix stock price target cut to $360 from $425 at UBS

Dow logs third straight gain, but Nasdaq, S&P 500 sink as energy slump offsets bank rally

The Dow Jones Industrial Average marked its third gain in a row on Monday, but the broader market finished slightly lower as the sell-off in the energy sector weighed on the market. The Dow closed up about 45 points, or 0.2% at 25,064 (on a preliminary basis),. The S&P 500 index fell 0.1% at 2,798, with the energy sector falling 1.2% amid a rout in crude-oil futures , while the banking sector enjoyed a bounce as Treasury rates climbed. Higher rates can be beneficial to a bank’s business model. Investors focused on second-quarter results, and a summit between President Donald Trump and Russian Vladimir Putin, which drew rebukes from Democrats and Republicans, for treating Putin like an ally. In corporate news, shares of Amazon.com Inc. finished up 0.5% as the online retailer’s website was down at the start of its Prime Day, one of its higher sales volume periods of the year. Separately, consumer-discretionary giant Netflix Inc. saw its shares in focus ahead of its release of second-quarter results, which were slated for after the close of Monday trade. Netflix’s shares rose 1.2% at the close on Monday.

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