When five of the top ten components are deep in the red on any given day, one would expect the index to have a bad day. That was not the case as Netflix Inc.’s (NASDAQ: NFLX) Q1 report had a negative impact on Google (NASDAQ: GOOG or GOOGL), Amazon.com Inc. (NASDAQ: AMZN), Tesla Inc. (NASDAQ: TSLA), Nvidia Corp (NASDAQ: NVDA) and MetaPlatforms Inc. (NASDAQ: FB).
With the Netflix report coming out after the close on Monday, the index was immediately under selling pressure in the after-hours session. That carried over in the early trading for Tuesday’s session but staged a major rebound heading into the 9:30 AM EST open.
The follow-through from the open nearly took the index to last week’s high (4391.25), but came up shy only reaching 4484.25, and reversed course. The remainder of the session was choppy, but the index never came close to the premarket low (4332.75), only falling to 4443.50.
That low was made heading into the final hour and set the stage for a rebound into the close. For the session, the index declined 3.75 handles to close at 4455.50.
UnitedHealth Group Inc. (NYSE: UNH) was the biggest gainer of the top components advancing $8.31 or 1.54% to close at $546.01.
That was better than the cash index’s decline of 0.08%.
MetaPlatforms Inc. (NASDAQ: FB) was by far the biggest loser of the top components. A scathing report from Cleveland Research Group resonated with investors as the issue declined $16.89 or 7.8% to end the day at $200.42.
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