Diamonds and Dogs

4/19/24

Financials look good even as interest rates move higher. American Express (AXP) is up 5% while Wells Fargo rises 2% to a 52 week high. American Express saw sales jump 11% as Gen Z and Millennials use their card more often. A good sign for the economy when a credit card company rpeorts strong earnings and sales.    

Netflix (NFLX) taking it on the chin, down 8% to a two-month low on better-than-expected earnings as earnings beat by 77 cents and sales rose 15% to $9.37 billion ahead of estimates. However, the company sees tepid growth going forward and will stop reporting subscriber numbers in 2025. The stock did receive a number of upgrades as analysts concede Netflix has won the streaming war.