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Stocks spent most of Wednesday in the red, weighed down by UK inflation data and mixed earnings from Netflix (NFLX (opens on new page)). However, the major indexes came out of their lows as the season progressed, with all three levels closing in on positive territory.

Data from the UK shows today’s retail prices (opens on new page) It rose 10.1% year-on-year in March. Although this was slightly slower than the 10.4% increase in February, it was higher than economists expected. Core raising moneywho destroyed the food and the energy prices, unchanged at 6.2%.

“The heat on the pot of prices has been lowered, but it continues to rise and interest rates appear to be increasing again to try and cool down quickly,” said Susannah Streeter, head of finance. and markets at Hargreaves Lansdown. “This spurious flow in wealth, and the fear that it is not short-term given the high inflation, volatile energy and food prices, means that there will be more A rate hike of 0.25% is on the way from the Bank of England next month.”

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Now, on the revenue front, streaming giant Netflix The stock fell 3.2% after reporting its first quarter results. The company reported earnings of $2.88 per share on $8.2 billion in revenue, hitting the bottom line, but falling short of top line estimates. NFLX also added 1.75 million subscribers in the three-month period. What disappointed investors was the news that Netflix is ​​waiting for its password sharing in the US to Q2 from Q1. The move will partially offset expected membership and revenue growth in Q3.

On the other hand, Physical surgery (ISRG (opens on new page)) jumped 10.9% after the da Vinci Surgical System maker reported first-quarter earnings of $1.23 a share on $1.7 billion in revenue due to a 26% year-over-year increase. jump to the growth process, with the ease of hitting the options.

In the absence of news, Meta Programs (META (opens on new page)) rose 1.0% after a judge in California first approved a $725 million settlement in a class-action lawsuit filed against parent Facebook over the Cambridge Analytica scandal. The privacy policy allows Facebook to allow users’ data to be viewed and shared by third parties without their consent, most notably the British political think tank. .

For general instructions, the Nasdaq Composite The income was 12,157, while the S&P 500 finished low at 4,154 and the Dow Jones Industrial Average fell 0.2% to 33,897.

Will the tech industry continue to thrive?

Today’s performance from the Nasdaq just reflects a broader trend seen this year. “Investors in technical archives It’s a happy company these days,” said Mike Dickson, head of research at Charlotte-based asset management firm Horizon Investments. (opens on new page). Looking at the numbers, the Nasdaq is up more than 16% for the year to date, ahead of the S&P 500’s roughly 8% gain and the Dow’s 2% return.

But will this trend continue? Only time will tell, but Dickson believes the main reason for the upcoming price action will be the onslaught of technology companies. income calendar in the coming weeks. These results will provide a picture of “expected growth and the impact of tight credit conditions on technology companies,” he added. Investors who want to play the market’s hot hand should continue to focus on top companies, such as those found among the best AI files or the excellent semiconductor stocks.