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Indexes: Dow down 0.3%, S&P 500 up 0.03% Nasdaq up 0.04%

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Netflix ( NFLX ) raises 2025 revenue guidance but shares fall

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Crypto stocks up as House passes stablecoin legislation

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Hess gains as Chevron ( CVX ) wins Exxon Guyana legal battle

(Updated with early afternoon prices, analyst comment)

By Pranav Kashyap and Nikhil Sharma

July 18 (Reuters) -

The S&P 500 and the Nasdaq grounded to a halt on Friday,

dragged down by Netflix ( NFLX ) and cautious investors heading into the

weekend after a turbulent week of mixed economic signals,

earnings and shifting rate cut bets by the Federal Reserve.

At 11:33 a.m. ET, the Dow Jones Industrial Average

fell 133.16 points, or 0.30%, to 44,349.71, the S&P 500

gained 2.05 points, or 0.03%, to 6,299.41 and the Nasdaq

Composite gained 9.20 points, or 0.04%, to 20,894.85.

Netflix ( NFLX ) dropped 4.5% to an over one-month low

despite the success of "Squid Game" helping the company surpass

earnings forecasts. The streaming giant also lifted its annual

revenue outlook.

Meanwhile, the latest

pulse check

on consumers came from the University of Michigan's

Consumer Sentiment Index that rose to 61.8 this month.

But for Wall Street, it's been a heavy week. Both the

S&P 500 and the Dow are on track for only modest gains as

investors waded through a maze of mixed signals - robust retail

sales, a rise in consumer inflation, and flat producer prices

for June.

Jitters spiked midweek after reports surfaced of a

possible ouster of Fed Chair Jerome Powell - reports quickly

denied by President Donald Trump. Still, with the president's

criticism of Powell's reluctance to cut rates growing louder,

Fed Governor Chris Waller signaled he'd be willing to take the

job if asked.

Meanwhile, the August 1 tariff deadline also cast a

shadow over markets, keeping trade policy uncertainty in focus.

"The week has been heavy in noise, and everybody is

worried about tariffs and then you throw in the summer, there's

no real catalyst," said Max Wasserman, senior portfolio manager

at Miramar Capital.

"As long as earnings and employment are okay, there's no

reason people to get out of this market."

Against this backdrop, traders now put the odds of a

September Fed rate cut at 58%, with a July move nearly off the

table, according to CME's FedWatch tool.

Seven of 11 S&P sectors were on the rise, led by

utilities jumped 1.8%. The sector often trades as

bond-proxies.

American Express ( AXP ) outpaced second-quarter profit

estimates, buoyed by strong spending from its affluent

cardholders. However, its shares were down 2.9%.

Brokerage firm Charles Schwab ( SCHW ) gained 2% after

its profit rose nearly 60% in the second quarter.

As the second-quarter earnings season gets underway,

early results from 59 S&P 500 companies that reported showed

more than 81.4% have topped Wall Street's earnings expectations,

according to LSEG I/B/E/S data.

Cryptocurrency stocks rose after the U.S. House of

Representatives passed a bill that would develop a regulatory

framework for cryptocurrencies.

Robinhood Markets ( HOOD ) and Coinbase Global ( COIN )

gained 4.2% and 3.8%, respectively.

Chevron ( CVX ) closed its $55 billion acquisition of Hess

after winning a landmark legal battle against larger

rival Exxon Mobil ( XOM ). Hess jumped 7.7%.

Declining issues outnumbered advancers by a 1.07-to-1

ratio on the NYSE and by a 1.09-1 on the Nasdaq.

The S&P 500 posted 38 new 52-week highs and four new

lows, while the Nasdaq Composite recorded 87 new highs and 35

new lows.