Between a positive response to President Trump’s first days back in office and another round of positive reports, investors around the world have continued to pile on the equity market bandwagon. NASDAQ futures are up 1.0% while Dow futures are up 0.3%.
Netflix* has been the star of the show overnight, soaring 14.6% premarket after the streaming service beat the street on earnings ($4.27 vs street $4.21), sales and subscriber additions. Netflix also announced a price increase. United Airlines ($3.26 vs street $3.00, up 3.9% premarket), beat expectations on earnings and guidance. Headliners reporting this morning include Procter & Gamble ($1.88 vs street $1.86, up 3.1% premarket), and Travelers ($9.15 vs street $6.65, up 5.5% premarket). There are no major earnings reports after the close today.
In Europe today, the Dax and CAC are both up 1.3% and the FTSE is up 0.3%. Asia Pacific trading was divided between a 1.6% gain for the Nikkei and a 1.6% loss for the Hang Seng after President Trump suggested new China tariffs could start next month.
Trading across currency and commodity markets is relatively quiet today. Gold is up 0.25%, China-sensitive Copper is down 0.7%. Crude Oil and Natural Gas are down 0.1%-0.2%. The US 10-year treasury note yield is steady near 4.55%.
*Shares of Netflix are held in portfolios managed by SIA Wealth Management.