Netflix (NFLX) is up 5.4% in pre-market trading to $78.24, indicating a potential bullish start to the trading day. The move comes after a strong earnings report from the company, which beat analyst expectations for revenue and subscriber growth. As a result, NFLX is outperforming the broader market, with the NASDAQ futures up 0.2% and the S&P 500 futures flat.
What's Happening Right Now
US futures are mixed, with the DOW futures down 0.1% and the RUSSELL 2000 futures up 0.3%. The VIX, a measure of market volatility, is down 1.5% to 15.62. In overseas markets, the Nikkei 225 is up 0.5% and the FTSE 100 is down 0.2%. The US dollar index is up 0.1% to 96.23, while gold is down 0.2% to $1,843.10 per ounce.
In terms of specific stocks, AMZN is up 0.5% in pre-market trading, while GOOGL is flat. MSFT is up 0.2%, and AAPL is down 0.1%. TSLA is up 1.1% after a strong earnings report from the company.
Why It Matters for US Investors
The move in NFLX is significant for US investors, as it indicates a potential shift in sentiment towards the tech sector. The NASDAQ has been under pressure in recent weeks, and a strong earnings report from NFLX could help to boost the index. Additionally, the mixed US futures indicate that traders are cautious ahead of key earnings and economic data due out today.
US investors will be watching for the release of the Consumer Price Index (CPI) at 8:30 am ET, which is expected to show a 0.2% increase in inflation. They will also be watching for earnings reports from MA, AXP, and SBUX, among others. The Federal Reserve will also be releasing its Beige Book at 2:00 pm ET, which will provide insight into the state of the US economy.
What Analysts Are Saying
Analysts are bullish on NFLX following the company's strong earnings report. Morgan Stanley upgraded the stock to overweight and raised its price target to $90. Goldman Sachs also raised its price target to $85, citing the company's strong subscriber growth and revenue beat.
However, not all analysts are bullish on the stock. UBS downgraded NFLX to neutral and lowered its price target to $75, citing concerns over the company's valuation and competition from other streaming services.
Key Takeaways
- NFLX is up 5.4% in pre-market trading to $78.24 after a strong earnings report.
- US futures are mixed ahead of key earnings and economic data due out today.
- The CPI is expected to show a 0.2% increase in inflation at 8:30 am ET.
Frequently Asked Questions
What is the current price of NFLX?
NFLX is currently trading at $78.24 in pre-market trading, up 5.4% from the previous close.
What is the expected move in the CPI?
The CPI is expected to show a 0.2% increase in inflation at 8:30 am ET.
What time is the Federal Reserve's Beige Book released?
The Federal Reserve's Beige Book will be released at 2:00 pm ET, providing insight into the state of the US economy.
