Stock Market Remains Flat

by worradmu

Wall St showed gains early in the trading day but everything flattened down by the end. Investors are waiting to get news from the Federal Reserve to see if they will provide an economic stimulus to aid in the recovery process. Investors are also waiting to hear back from Greece and the talks they have been having in order to avoid a default. Investors want to see progress on all sides before making hasty decisions about investing. As a result of this, the stock market didn’t see massive gains or massive losses.

The Dow Jones was the only one from the major indexes in the US Market not to have gone down, however they only gained less than 8 points, which is basically close to nothing. They are still over the 11,400 mark but not by much.

The NASDAQ Composite lost just over 22.5 points while the S&P 500 lost only 2 points. The NYSE lost over 17 points.

Although the stock markets showed early signs of life, early signs of what could have been a big rally, it was quickly stopped by the time the market session came to an end. Most stocks showed no change however Netflix is another story.

Netflix (NFLX) dropped another 9.5% today, or $13.72 per share. As predicted yesterday, Netflix has continued to drop. The negative momentum from yesterday after their news regarding Qwikster carried over to today and it has cost them even more money. Netflix has reached a new 52 week low hitting $129.37 earlier today. Currently the stock sits in at $130.03 per share. Netflix shares have dropped about 55% since their original announcement of price increase for their product back in July. That’s a huge drop for any company and I was actually surprised to hear their new announcement yesterday regarding Qwikster.

So will Netflix stocks bounce back up? Or will Netflix stocks keep dropping?

I think for now, the downward momentum is still strong for them. Since it dropped almost 10% today, it may continue over to tomorrow (or for another few days). But remember, Investors love to buy low and they could use this opportunity to invest in a company that dropped in price by more than half because Netflix still has potential to go back above the $300 mark with ease.

Anything can happen. Today was very uneventful in terms of the stock market as a whole. Nothing was too crazy and everything was pretty flat. If good news comes out tomorrow, we can most definitely expect a rally but if bad news comes out, like Greece failing progress about their default, we could very well be on our way into another recession. But for now let’s think positive.


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