Netflix And Sirius XM Lead The Nasdaq Sharply Lower

U.S. indices were trading lower Thursday following comments from St. Louis Fed President James Bullard indicating he favors a 1% rate increase by July 1. Investors also continue to react to worse-than-expected inflation data from earlier in the trading session.

  • The Nasdaq composite fell by 2.1% to 14,185; The Invesco QQQ Trust Series 1 QQQ fell by 2.3% to $358.43
  • The S&P 500 composite finished lower by 1.8% to 4,504; The SPDR S&P 500 ETF Trust SPY lost 1.8% % to $449.32
  • The Dow Jones composite fell 1.7% to 11,726; The SPDR Dow Jones Industrial Average ETF Trust DIA finished lower by 1.4% to $352.55 

Here are the day's winners and losers from the Nasdaq-100, according to data from Benzinga Pro.
Micron Technology, Inc. MU, Atlassian Corporation PLC TEAM and Pinduoduo Inc - ADR PDD were among the top gainers for the QQQ Thursday.
Netflix Inc NFLX, Sirius XM Holdings Inc SIRI and Seagen Inc SGEN were among the top losers for the Nasdaq-100.

Elsewhere On The Street
It seems the recently announced CEO transition at Peloton Interactive Inc PTON is off to a bumpy start. According to a CNBC report, an introductory meeting for the new CEO was crashed by former Peloton employees… Read More

Walt Disney Co DIS shares were rallying Thursday after the company reported a big first-quarter earnings beat. Disney reported fiscal first-quarter adjusted EPS of $1.06 on $21.82 billion in revenue… Read More

Uber Technologies Inc UBER shares surged higher after the company announced strong quarterly results, but the stock was halted and turned negative following announcements… Read More

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