Netflix shares rose Monday, the rare media stock that traded higher as markets swoon amid Donald Trump’s tariffs and the president’s ratcheted-up vitriol against Jerome Powell, the Fed chief who warned last week that the administration’s hefty new import taxes will likely trigger higher prices and slower growth.
Near close, the S&P 500 has dropped 2.6%, the Nasdaq is off near 3%% and the Dow Jones Industrial Average off shed over 1,000 points as markets grow increasingly panicked. All are off their lows for the day.
Netflix bucked the downturn, up about 1.7% to $989 after delivering well received first quarter earnings last Thursday. Media analyst Peter Supino from Wolfe Research, on CNBC today, came out for Netflix as well as Spotify, calling them particularly stable given global subscription models that offer consumers vast quantities of content. He also touted Disney as already priced for a recession, which
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