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U.S. stocks end mixed amid earnings reports

2022-04-21 05:55

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NEW YORK, April 20 (Xinhua) -- U.S. stocks finished mixed on Wednesday as investors responded to mixed earnings reports.

The Dow Jones Industrial Average was up 249.59 points, or 0.71 percent, to 35,160.79. The S&P 500 fell 2.76 points, or 0.06 percent, to 4,459.45. The Nasdaq Composite Index was down 166.59 points, or 1.22 percent, to 13,453.07.

Eight of the 11 primary S&P 500 sectors ended in green, with real estate up 1.85 percent, outpacing the rest. Communication services tumbled 4.07 percent, the worst-performing group.

Shares of Netflix plunged more than 35 percent after the streaming giant reported Tuesday that it lost subscribers for the first time in more than a decade.

Shares of other streaming companies such as Disney, Roku and Warner Bros. Discovery all closed noticeably lower, following Netflix's slump.

Shares of Procter & Gamble gained 2.66 percent after it delivered better-than-anticipated results.

IBM shares jumped 7.1 percent after the company reported stronger-than-expected first-quarter results.

Roughly 12 percent of S&P 500 companies have reported first-quarter earnings thus far, with 80 percent of those names beating analyst expectations, according to CNBC, citing statistics from financial data firm FactSet.
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