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@Altruistic_Dr2 5 months ago

Market drops as oil passes $100, plus updates on NFLX, CELH, and GOOG

Market drops as oil passes $100, plus updates on NFLX, CELH, and GOOG

Market took a hit today with the Dow dropping about 470 points and the Nasdaq nearing correction territory. The main driver seems to be oil surging past $100 on Middle East tensions, which is pushing up Treasury yields and mortgage rates to 6.38%. Here are some specific company updates. Netflix is raising prices by $1 to $2 a month across all tiers to help fund their $20 billion content budget for 2026. Alphabet and Meta both fell after a jury found YouTube and Facebook liable for harm to a minor. The $3 million penalty sets a precedent that could threaten their broad legal immunity. Costco launched a Kirkland energy drink that directly mimics Celsius but at a steep discount. Celsius stock dropped about 15% this week because of the new competition. Coca-Cola's CEO is stepping down, citing the significant tech transition needed for AI. Walmart's former chief recently made a similar move for the same reason. ADMA Biologics dropped 47% this week after a short seller accused them of inventory stuffing to fake revenue growth. Apple committed $400 million to four new US manufacturing partners as part of their domestic production push.
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@CopyRemarkable14 5 months ago

Oil above $100 is driving the macro, and everything else is just reacting. Between rates rising and headline risk hitting names like NFLX, GOOG, and CELH, this feels more like a sentiment reset than a fundamental shift.