The Nasdaq lagged while the Dow and the S&P finished the week with gains.
 | FRI, JUL 17, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | MSFT | 202.88 | -1.04 | -0.51% | | BA | 175.66 | -3.04 | -1.70% | | AAPL | 385.31 | -0.78 | -0.20% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | F | 6.80 | -0.06 | -0.87% | | NCLH | 15.27 | -0.34 | -2.18% | | AAL | 11.91 | -0.54 | -4.34% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAL | 11.91 | -0.54 | -4.34% | | UAL | 33.92 | -0.57 | -1.65% | | AMD | 55.04 | +0.12 | +0.22% | |
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The Nasdaq and its cluster of booming technology names have led the stock market all year, notching surprising gains as the coronavirus pandemic ravaged the global economy. That trend came to an abrupt end on Monday and the index later posted a loss for the week, even as the S&P 500 and the Dow Jones Industrial Average registered weekly gains. High-flying tech and internet stocks have been priced for perfection, and as investors learned on Thursday from Netflix, this worrisome earnings season is far from perfect. Netflix's stock fell more than 10% for the week after missing earnings expectations.  The major indexes were flat on Friday as technology companies continued the lagging performance displayed all week. And the divergence of the Nasdaq's performance could continue next week when some Big Tech names such as Microsoft, Intel, Twitter and IBM are scheduled to report their earnings. Upside surprises are always possible, but investors shouldn't count on them. "It's the sector with the highest earnings expectations," said Julian Emanuel, head of equity and derivatives strategy at BTIG. "There's virtually nothing that management can say at these valuations that's going to create further upside to these names." Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. |
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