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The S&P 500 and the NASDAQ closed at fresh record highs on Thursday, setting the stage for a more muted start on Friday amid mixed economic signals and following Netflix's profits, which failed to ignite excitement.
Netflix reports Q2 earnings today after the market close, with analysts forecasting EPS of $7.08 (+45% YoY) and revenue over $11B. Ad-supported tier growth, blockbuster content like Squid Game S3, and platform innovation are the highlights. With strong guidance and bullish sentiment, Netflix might beat again, yet subscription growth in the USA appears saturated.
The current confidence prevailing in the U.S. stock market has allowed the S&P 500 to set a new all-time high at 6,130 points.
U.S. stocks are set for a positive opening as investors assess comments from President Trump on his plans for AI infrastructure and possible trade tariffs and digested more corporate earnings. The Nasdaq is soaring, outperforming its peers after Trump announced a $500 billion investment in AI infrastructure. The project will see OpenAI team up with Oracle and Softbank in the Stargate project. Separately Netflix beat earnings forecasts and added 19 million new subscribers.
The outlook is rosy for Netflix, but can it keep up with market expectations?
Stocks selloff for a second day as recession fears linger. US jobless claims show resilience in the labour market.
Investors hope Netflix can recover as subscriber numbers start to grow again.
Investors hope Netflix can recover as subscriber numbers start to grow again.
This looks set to be a tough earnings season for the largest tech stocks in the US as markets continue to fret about slowing growth and their ability to deliver during a potential downturn.
Netflix is due to report on July 20. Expectations are for just 1 million new subscribers but will guidance show numbers starting to normalise next quarter.
As always with Netflix, one of the biggest storylines will be subscriber growth...
Many people habitually fall asleep watching Netflix, but traders shouldn’t be sleeping on the stock...
FAANGs are due to report earnings in the second half of October. They report after a phenomenal run higher from March and as they recover from a steep sell off in September.
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