Continuing Uncertainty over Debt Ceiling Brings Stocks Down (AMZN, NFLX)

As the end of the month draws nearer, no clear end to the debt ceiling negotiations are in sight. As a result, the markets were down, with the Dow down by almost 1%. Amazon (AMZN) reported strong revenue growth, though a slight drop in profits, for Q2, and its stock price went up by about 5%. After forecasting minimal growth for the upcoming quarter yesterday, Netflix (NFLX) saw its stock value fall by almost 10% today. Meanwhile, 11 companies will be filing for IPO this week, making it a hot week for traders.

Word on the Street

• Markets were down today as the debt negotiation deadline looms closer.
• Amazon (AMZN) stocks were up after a strong earnings report.
• Netflix (NFLX) shares were down by almost 10% today.
• There are 11 IPOs scheduled for this week.
• Motor vehicle output has contracted.
• A few investors are betting on a US default.

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