"Netflix and Chip Stocks Drag Nasdaq, AmEx Lifts Dow: Market Update"

The Nasdaq and S&P 500 declined as Netflix's disappointing quarterly forecast and chip-related stocks dragged down the market, while the Dow was lifted by American Express exceeding profit estimates. The possibility of a Federal Reserve interest rate cut diminished, leading to weekly losses for all three indexes. Amidst this, Paramount Global's shares surged on news of a potential buyout bid from Sony and Apollo, while Fifth Third Bancorp also saw gains after beating first-quarter profit estimates.