Stocks started the week off with a rally sending the Dow to a nine-month high, thanks to a broad-based rally. Bobbi Rebell reports.
Netflix earnings coming in above forecasts after the closing bell, though revenue fell a bit short. But the company, which will be raising prices, gave weak subscriber guidance for the current quarter. Energy stocks leading Wall Street higher with the Dow reclaiming the 18,000 level. Energy shares rose despite a fall in crude prices. Oil producers meeting in Doha failed to agree on a plan to curb production. Dan Neiman of Neiman Funds: (SOUNDBITE) DAN NEIMAN, PARTNER, NEIMAN FUNDS, (ENGLISH) SAYING: "The lack of an agreement might actually help oil stocks going forward. But we've also seen an upward momentum in oil prices in general over the past three months. I think that's helped oil companies in general over the past few months." Consumer stocks rallied as the Bare Necessities brought out the bulls. The new "Jungle Book" movie drove Disney's shares to a 3 month high after the film dominated the weekend box office. And Disney Princess dolls and "Star Wars" action figures catapulted Hasbro's profit and revenue sharply higher. The toy maker's shares surged. Morgan Stanley's quarterly profit fell by more than half. Weak fixed-income trading dragged down profit and revenue. Shares of the investment bank eased. Home builders remained upbeat about the housing market. The NAHB Housing Market Index holding steady in April. In Europe, auto and travel stocks helped lift the markets higher.