This post was originally published on this site
XAutoplay: On | Off Futures for the Dow Jones industrial average, S&P 500 index and Nasdaq 100 were lower late Monday following news of a deadly explosion at an Ariana Grande concert in the U.K.
Police have confirmed that 19 people have been killed and 50 injured at the Manchester concert by the U.S. pop singer. “This is currently being treated as a terrorist incident until police know otherwise,” the Manchester police said in a statement.
NBC News had cited “increasing confidence” that it was indeed a terror attack, with evidence pointing to a backpack bomb. CNN, citing sources, said evidence indicated a suicide bomber.
The blast apparently took place just outside the arena, perhaps near the security perimeter, rather than in the concert venue itself.
Over 20,000 people were in the arena, mostly teens and young adults, who streamed out into the streets after the blast or blasts. Some of the deaths and injuries may have been from the stampede after the explosion.
Investor reaction was muted so far. Futures for the Dow Jones industrial average, S&P 500 and Nasdaq 100 futures sank 0.1%. In early Asia trading Tuesday morning, Japan’s Nikkei and Australia’s S&P/ASX 200 edged lower.
During Monday’s regular session in New York, the Nasdaq composite rose 0.8% in stock market trading Monday, moving within 1% of a new record high. The S&P 500 index and Dow Jones industrial average both regained their 50-day moving averages, climbing 0.5% and 0.4%, respectively. Netflix (NFLX) celebrated its 15th anniversary as a public company on Monday. That followed a 20-year IPO anniversary for Amazon.com (AMZN) and a five-year anniversary for Facebook (FB) earlier this month. (Google parent Alphabet (GOOGL) came public in August 2004.)
Looking ahead to Tuesday, hot Chinese internet stock Momo (MOMO), video game maker Take-Two Interactive Software (TTWO) and luxury builder Toll Brothers (TOL) are on tap with earnings before the opening bell. All three leading stocks are extended from any proper buy point, but Momo and Toll results could affect related stocks such as NetEase (NTES) and Lennar (LEN) that are consolidating near buy points.
Meanwhile, Take-Two Interactive shares tumbled 8% in late trading after its Rockstar Games label confirmed that the release of “Red Dead Redemption 2” would be delayed from this fall to Spring 2018.
Netflix came public on May 22, 2002. The IPO price was 15 (1.07 split adjusted). Since then shares have skyrocketed 14,568%.
Much as Facebook had a costly, expensive shift to mobile, Netflix transitioned from its DVD-by-mail origins to streaming, which substantially raised content costs. But booming subscriber growth, including a near-global expansion, and more homegrown content have offset that.
Increasingly, Netflix is seen as a “necessity” rather than a luxury. Even as Amazon Prime Video and Hulu have become more-viable rivals, many Americans are signing up for multiple streaming services, rather than picking just one.
Netflix has made a big bet on exclusive comedy specials in 2017. Some analysts have speculated that Netflix could decide to expand into exclusive sports content. Facebook, Amazon and Twitter (TWTR) have ventured more into sports (Facebook has begun live-streaming a Major League Baseball game every Friday, with Amazon recently getting the rights to the NFL’s “Thursday Night Football,” taking over from Twitter.)
Netflix shares rose 0.1% to 157.16 in Monday stock market trading, up 27% so far in 2017. The stock hit a record high of 161.78 on May 15.