Markets End Mixed on Monday; Netflix Surges on Growth and Outlook (NFLX, JPM)

The major indices closed mostly flat on Monday after a  slue of quarterly reports. The Nasdaq Composite was able to end with a slight gain, bumped up by Netflix's (NFLX) strong third-quarter revenue and Hasbro Inc.'s (HAS) results that beat expectations. McDonald's (MCD) dragged down the Dow with a missed sales report and shares fell 0.6% for the day. JPMorgan Chase (JPM) agreed tentatively to a $13 billion settlement regarding mortgage-backed securities investigations.
If the deal goes through, it will be the largest a banking company has ever paid to settle claims. Also on Monday it was reported that housing affordability fell to a five-year low and sales of previously owned homes dropped almost 2% in September. The US dollar made gains against both the euro and the Japanese yen. Tomorrow the government is scheduled to release nonfarm-payrolls data for September, one of the many reports delayed due to the government shutdown.

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Published on Oct 21, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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