Netflix is a top S&P 500 performer this week amid coronavirus fears

[ad_1]

A button for launching the Netflix application is seen on a remote control in this photo illustration in Warsaw, Poland on April 25, 2019.

Jaap Arriens | NurPhoto | Getty Images

Netflix is one of the top ten performers in the S&P 500 this week as stay-at-home stocks fared better than the rest of the market while health officials ratcheted up warnings about the impact of the COVID-19 coronavirus.

Netflix shares were down about 5% for the week as of Friday morning, while the S&P 500 Index had tumbled more than 13%. Other stay-at-home stocks like video conferencing service Zoom and Peloton, the maker of the home exercise bike and streaming service, also rallied amid a down market.

There are over 83,700 confirmed cases and more than 2,800 deaths associated with the virus as of Friday morning, according to health officials. World Health Organization officials said Friday the virus could soon reach every country in the world.

Earlier this week, the director of the Centers for Disease Control National Center for Immunization and Respiratory Diseases Nancy Messonnier said companies should prepare to “replace in-person meetings with video or telephone conferences and can increase teleworking options,” according to Axios.

Analysts at MKM Partners released a list of recommended stocks that “would potentially benefit in a world of quarantined individuals.” The heavily featured internet and delivery stocks including Netflix, as well as Clorox and Campbell Soup.

Subscribe to CNBC on YouTube.

WATCH: Fed’s Bullard: Fed might react if virus becomes pandemic

[ad_2]

Source link