Buzzberg Cup Live

Market Close: Stocks Lose Ground, Oil Climbs, Trump Threatens Canada Over Wildfires • 7/17/26

Watch on YouTube ↗  |  July 17, 2026 at 20:26  |  2:18  |  CNBC
Speakers
John Blackledge — Head of Research, Cowen
Tony Wang — Portfolio Manager, T. Rowe Price

Summary

Markets fell on Friday with the Dow, S&P 500, and Nasdaq all posting weekly losses. Netflix slid on disappointing guidance but an analyst saw the sell-off as overdone. T. Rowe Price's Tony Wang noted attractive software valuations. Oil surged on geopolitical tensions and a pipeline deal bypassing the Strait of Hormuz, while President Trump threatened Canada with tariffs over wildfire smoke.

  • Major US indices ended the day and week lower, with the Nasdaq down nearly 3% for the week.
  • Netflix dropped over 7% after Q2 results and slow growth guidance disappointed investors.
  • TD Cowen analyst John Blackge views the Netflix pullback as overdone given prior 40% decline.
  • T. Rowe Price's Tony Wang is bullish on software, citing more attractive valuations.
  • Oil prices jumped 4% on Friday and 15% for the week amid US-Iran escalation and an Iraq-Syria pipeline deal.
  • President Trump threatened additional tariffs on Canada, blaming it for hazardous wildfire smoke in US cities.
Ideas
John Blackledge Head of Research, Cowen 0:41
Netflix sell-off overdone
Netflix's post-earnings decline of over 11% pre-market looks overdone given the stock was already down 40% over the past 12 months and sentiment was weak going in, suggesting the sell-off is excessive.
NFLX MED
Tony Wang Portfolio Manager, T. Rowe Price 1:01
Software valuations attractive
Software valuations have become much more attractive, making the sector a bullish opportunity, though not all software companies are positioned similarly.
IGV MED
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This CNBC video, published July 17, 2026, features John Blackledge, Tony Wang discussing NFLX, IGV. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: John Blackledge, Tony Wang  · Tickers: NFLX, IGV