Household debt is increasing in this country. And Netflix says *ads are right around the corner.
The day started with the markets heavily in the red yet again, but stocks recovered a bit to finish mixed on this Tuesday.
The Dow fell 85 points to close at 32,160.
The Nasdaq got a little back from yesterday – up 1% or 114 points.
The S&P finished the day up 9 points, back over 4,000.
Here’s a sobering number – $16 trillion. That’s how much household debt there is in this country. Even with raging inflation, consumer debt rose 1.7% in the first quarter to a new record. Part of that was a $250 billion increase in mortgage debt.
Get ready to see ads on Netflix. The streaming service says their new lower-priced “ad tier” could hit “end of year.” Netflix has always refused to include advertising, but shares plunged last month after it reported its first quarterly subscriber loss in a decade and they’ve got to turn that ship around.
Sony sold 11-million PlayStation 5 consoles over the last year. The company says its operating profit more than doubled, and it will buy back $1.5 billion worth of its own shares.
From Los Angeles, I’m Brian Martin with your BEONDTV After the Bell report.
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