Stocks Ended Lower, Netflix and IBM Beat Expectations

U.S. stocks ended lower on Tuesday, with concerns over a potentially deadly virus outbreak in China knocking global markets. The Dow Jones Industrial Average shed 152.06 points, or 0.52%, to 29,196.04. The S&P 500 fell 8.83 points, or 0.27%, to 3,320.79. The Nasdaq Composite closed down 18.14 points, or 0.19%, to 9,370.81.

Crude-oil prices finished lower on Tuesday as investor worries about rising global supplies and a potential slowdown in global economic growth. West Texas Intermediate crude futures saw its most-active March contract decline by 20 cents, or 0.3%, to settle at $58.38 a barrel. March Brent oil lost 61 cents, or 0.9%,  to $64.59 a barrel.

Netflix (NFLX) added more new paying subscribers in the fourth quarter of 2019 than expected. For the fourth quarter, Netflix had guided toward adding 7.6 million net streaming subscribers globally, comprising 600,000 adds in the U.S. and 7 million internationally.

International Business Machines Corp (IBM) on Tuesday reported a surprise rise in revenue, its first in six quarters, benefiting from its high-margin cloud computing business.IBM’s net income rose to $3.67 billion, or $4.11 per share, from $1.95 billion, or $2.15 per share, a year earlier.

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