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Stock market live Friday: Stocks end flat in thin trading, Nasdaq first down week in 3, Netflix drops 6%

This is CNBC's live blog covering the latest market-moving news. Here's what happened on Friday.

Friday's market action by the numbers

  • S&P 500 closed up 0.28% for its third positive day in four
  • S&P 500 closed up 1.25% this week, for its third straight positive week
  • S&P 500 is down 0.19% year to date
  • S&P is 4.97% below its intraday all-time high of 3,393.52 from Feb. 19
  • The Nasdaq Composite advanced 0.28%
  • The Nasdaq fell 1.08% this week, for its first negative week in three
  • The Dow closed down 0.23%, for its second consecutive down day
  • Seven out of 11 sectors were positive Friday, led by utilities, which gained 2.28%. — Gina Francolla



Major averages end the day mixed, Nasdaq posts first down week in 3

The S&P 500 finished Friday's session up 0.2% in thin trading, posting its third straight week of gains. The Dow dipped just 0.2%, bringing its weekly gain to 2.2%, also its third consecutive up week. The Nasdaq Composite ended the day up 0.2%, despite a 6.5% loss in Netflix. However, the tech-heavy benchmark suffered its first negative week in three as investors rotated out of some of the high-flying tech shares.— Yun Li

3,230 level on S&P 500 is 'challenging,' strategist says

The S&P 500 is seeing clear signs of technical resistance around the 2020 breakeven level after two failed attempt to break above it this week, said Bill Northey of U.S. Bank Wealth Management. "That level has proven to be very challenging," said Northey, the bank's senior investment director. This level is key, Northey notes, as the broader market index has traded in a "consolidating range" since late May. —Fred Imbert

Final hour of trading: Stocks are little changed as Netflix drop dampens sentiment

Stocks were little changed heading into the final hour of trading as a sharp drop in Netflix shares kept sentiment in check. The Dow was down 38 points, or 0.1%. The S&P 500 and Nasdaq rose slightly. —Fred Imbert

Thin trading amid summer doldrums

Trading volumes have been very thin on Friday as Wall Street tries to end a volatile week with lackluster performance. With about one hour left in the trading session, the SPDR S&P 500 ETF Trust (SPY), which tracks the broader market index, traded just over 35 million shares . That's well below the ETF's 30-day volume average of more than 98 million. The market tends to have relatively quiet activity during the summer months. — Yun Li

Stakeholder capitalism growing in importance, says BlackRock's Fink

BlackRock CEO Larry Fink told CNBC that stakeholder capitalism, or the idea that companies have a purpose beyond just shareholder returns, will accelerate in the wake of the pandemic. "The companies that focus on all their stakeholders – their clients, their employees, the society where they work and operate – are going to be the companies that are going to be the winners for the future," he said on CNBC's "Squawk Box." The firm is the largest money manager in the world, with more than $7 trillion in assets under management. - Pippa Stevens

NYSE advancers lead decliners slightly to end the week

The number of rising stocks at the New York Stock Exchange slightly outpaced declining shares as the market struggled for direction to end the week. FactSet data showed that four stocks advanced for every three NYSE declines. Overall, 1,612 stocks were up at the NYSE while 1,210 dipped. —Fred Imbert

Stocks making the biggest moves midday: BlackRock, Facebook and more

BlackRock — Shares of the money manager jumped more than 3% after it beat estimates on the top and bottom lines for its second quarter.

FacebookAmazonMicrosoftAlphabet — Alongside Netflix, the so-called FANG stocks slid, continuing technology stocks' weakness this week. 

J.B. Hunt — Shares of JB Hunt Transport gained 3% after the transportation and logistics company's second-quarter earnings topped expectations. 

For more stocks moving midday look here. — Maggie Fitzgerald 

Markets at midday: Netflix losses keep major averages in check

The major averages were roughly flat around midday as Netflix shares led the major tech companies lower. The Dow was down just 39 points, or 0.1%. The S&P 500 and Nasdaq Composite were marginally higher. —Fred Imbert

Nio drops 15% after Goldman downgrade

U.S.-traded shares of electric vehicle company Nio dropped more than 15% after Goldman Sachs downgraded the stock to a sell rating. The firm said that the China-based company's share price reflected "over optimism.

CNBC PRO subscribers can read more here. - Pippa Stevens 

Consumer sentiment falls unexpectedly in July

U.S. consumer sentiment dipped in the early part of July amid a continuing rise in new coronavirus cases. The University of Michigan's consumer sentiment index came in at 73.2 for July, a decline from 78.1 in June. Economists polled by Dow Jones were expecting a small rise to 79.  — Yun Li

Stocks open in the green

The Dow Jones Industrial Average jumped 65 points or 0.25%, at the opening bell on Friday. The S&P 500 rose 0.3%. The Nasdaq Composite rose 0.25%, dragged down by a 5% drop in Netflix shares. — Maggie Fitzgerald 

Credit Suisse doubles Tesla price target

Shares of Tesla moved higher during premarket trading on Friday after Credit Suisse doubled its price target on the stock, while re-iterating its neutral rating. Credit Suisse hiked the 12-month target to $1,400 from $700.  The firm said the stock is currently "priced for perfection."

CNBC PRO subscribers can read more here. – Pippa Stevens

Housing starts come in at 1.186 million, tops estimates 

The Commerce Department said Friday U.S. housing starts totaled 1.186 million in June, more than the 1.169 million expected by economists polled by Dow Jones. This is an increase from the 974,000 in new construction reported for May. Construction of U.S. homes jumped 17.3% in June as some states reopened, but the pace still lags last year due to the pandemic. — Maggie Fitzgerald 

Netflix drops 8% after earnings miss, weak guidance

Shares of Netflix tanked 8.2% in premarket trading on Friday after the streaming media giant missed analyst expectations on its second-quarter earnings. It reported EPS of $1.59, versus $1.81 expected per Refinitiv. The company also provided weak subscriber growth guidance for the third quarter, saying, "growth is slowing as consumers get through the initial shock of Covid and social restrictions." Meanwhile, Netflix announced its Chief Content Officer Ted Sarandos will become co-CEO alongside current CEO Reed Hastings. The stock had lost nearly 4% this week through Thursday. — Yun Li

Tech lags this week 

While the S&P 500 and Dow Jones Industrial Average are headed for a week of gains, the Nasdaq Composite is slated to end the week in the red as technology stocks have experienced lackluster performance since Monday. The Nasdaq Composite is down 1.35% this week, on pace for its first negative week in three. The so-called FANG stocks, with the exception of Apple, are all headed for big down weeks. Amazon is down more than 6% since Monday. Netflix is down nearly 4% this week and is down more than 8% in premarket trading on Friday. This week Facebook and Alphabet are both down more than 1.5% and Microsoft has lost 4.6% since Monday. — Maggie Fitzgerald 

Futures rise, stocks heading for winning week

Stock futures rose slightly on Friday with Dow futures up 65 points. S&P 500 futures rose 0.35% and Nasdaq-100 futures jumped 0.85% before the bell. 

The Dow Jones Industrial Average fell more than 200 points on Thursday but is up more than 2.5% this week, on pace for its third straight week of gains. The S&P 500 dipped 0.7% on Thursday but is up 0.96% this week, on pace for its third straight weekly gain. The Nasdaq Composite slid more than 0.7% on Thursday, on pace for its first negative week in three. — Maggie Fitzgerald