NEW YORK (Reuters) - The S&P 500 ended slightly lower on Monday following a drop in oil prices that weighed on energy shares and offset a jump in financials as Bank of America’s results reinforced expectations of a strong U.S. earnings season.
Netflix (NFLX.O) shares ended the session up 1.2 percent but dropped more than 14 percent after the bell when it reported results. The company missed Wall Street forecasts for U.S. and international subscribers.
Nasdaq e-mini futures NQcv1 volume jumped after Netflix’s results and sold off sharply to end the session down 1 percent.
Facebook (FB.O), Amazon.com (AMZN.O) and Google parent Alphabet (GOOGL.O) - the other ‘FANG’ stocks - were down more than 1 percent in after-hours trading. The stocks have led the technology and consumer discretionary sectors back to record-high levels in recent days.
During the regular session, the S&P energy sector .SPNY fell 1.2 percent, leading percentage declines among the 11 major S&P sectors. Shares of Exxon Mobil (XOM.N) slid 1.0 percent and Chevron (CVX.N) fell 0.9 percent. The stocks were among the biggest drags on the benchmark index, along with Microsoft (MSFT.O), down 0.5 percent.
Oil prices slumped more than 4 percent as Libyan ports reopened and traders eyed potential supply increases by Russia and other producers.
Bank stocks rose, reversing their slide on Friday, when JPMorgan Chase (JPM.N), Citigroup (C.N) and Well Fargo (WFC.N) reported results. The S&P 500 financial index .SPSY gained 1.8 percent, leading sector gains.
Bank of America (BAC.N) rose 4.3 percent after the lender’s quarterly profit beat analysts’ expectations on lower expenses and growth in loans and deposits. Goldman Sachs (GS.N
