With lawmakers currently in the process of debating whether or not to pass a stimulus package later this week, the direction that stocks on the NYSE are set to take remains uncertain.
The three major indices each incurred their fairly balanced share of gains and losses on Wednesday, with several notable companies being significantly affected by the indecisiveness of investors resulting from the stimulus package uncertainty. Overall, the S&P 500, NASDAQ, and Dow Jones all traded near a flat line around 12:30 pm in New York City.
Netflix (NFLX) shares have plunged by more than 5%, with the company announcing that it had failed to acquire its targeted number of new subscribers in the third quarter. This decline comes after the company enjoyed a surge of new signups at the start of the coronavirus shutdown.
On the other hand, several companies enjoyed significant growth in shares this past week. Snap (SNAP), the creator of Snapchat, has seen their shares grow by more than 30%, a record high for the company. Alphabet (GOOG, GOOGL) shares have risen just over 1.5% despite the formal filing of an antitrust lawsuit against the company by the Department of Justice.
