U.S. Stocks Open Mixed as Netflix Announces Layoffs

U.S. stock indexes opened with mixed results on Friday, October 16, 2026. The Nasdaq composite fell 0.6%, moving toward its first weekly loss in five weeks, while the S&P 500 dipped slightly. These declines were driven by losses in big technology and AI stocks, specifically Micron Technology, Advanced Micro Devices, Broadcom, and Intel.

In contrast, the Dow Jones Industrial Average rose 387 points. This growth was supported by gains in financial companies, including JPMorgan, Citigroup, and Wells Fargo. In the energy sector, Brent crude remained elevated at $105.89 per barrel, a result of supply pressures and the lack of a deal between the United States and Iran to end the Iran war.

Netflix shares fell 1.4% following a series of corporate changes. The company announced a plan to lay off approximately 6% of its workforce and named Peter Rice as the new Chief Content Officer, replacing Bela Bajaria.