Bitcoin, Netflix, Peloton, Coinbase: What to Watch in the Stock Market Today

Wall Street stock indexes opened lower after disappointing earnings reports from some popular technology stocks. Here’s what we’re watching at the end of a rough week on Wall Street:

  • Bitcoin’s price fell below $40,000, and crypto stocks were dragged down with it, including

    Coinbase


    COIN -14.21%

    and bitcoin miners

    Marathon Digital


    MARA -8.75%

    and

    Riot Blockchain.


    RIOT -9.39%

  • Netflix


    NFLX -24.36%

    said it expects to add a much smaller number of subscribers this quarter than it did a year ago as it adjusts to growing competition and lasting disruptions from the coronavirus pandemic. The bad news seemed to rub off on streaming-device maker

    Roku.


    ROKU -7.39%

  • Peloton


    PTON 2.93%

    inched up in morning trading, but not enough to account for Thursday’s 24% drop. The company is reviewing the size of its workforce and resetting production levels as it adapts to more seasonal demand for its exercise equipment.

A Peloton stationary bike at one of the fitness company’s studios in New York, Dec. 4, 2019.



Photo:

Scott Heins/Getty Images

  • Intel


    INTC 0.31%

    plans to invest at least $20 billion in new chip-making capacity in Ohio.

  • CSX


    CSX -4.68%

    is projecting that shipping volume will rise faster than GDP this year and reported a slight earnings beat.

  • Ally Financial


    ALLY -4.06%

    reported lower earnings per share during the recent quarter from a year prior.

  • Huntington Bancshares


    HBAN -9.68%

    also reported a slight drop in earnings per share.

Chart of the Day
  • Europe’s tech scene has struggled to emerge from the shadows of giants in the U.S. and Asia, but friendly local policies and a global overflow of investment capital are now giving the region a gusher of cash.

Write to James Willhite at james.willhite@wsj.com

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