The local U.S. indices are looking to ride the amazing surge that the Netflix provided; two of the biggest stocks, Nasdaq and S&P 500 managed to close on great figures. The tech sector helped both of the indices prices, while the corporate earnings report and figures managed to give S&P 500 a huge boost to an all-time high closing.
Netflix managed to propel to great heights as their fourth-quarter results showed massive subscriber growth despite hiking the subscription fee from the same quarter as well. The streaming company continues to dominate the market with its great shows and astounding productions; the company managed to extend its pre-trading increases and even help both stocks up.
The company’s shares managed to tally a massive 10% to 250.29 increases from the previous trading session. Among the FANG stocks, both Facebook and Amazon managed to score 2% increase respectively while Google managed to close with a total of 1% increase.
The streaming company continues to dominate the streaming market despite having numerous debacles last year which includes; the abrupt and unprecedented subscription price hike and the fact that Disney pulled all of their content out of Netflix as an attempt to create their own streaming service along with Fox as they effectively take the company head-on.
Netflix proved their global dominance as they tallied a total of 6.36 million new subscribers globally, leaving the company with a massive 17.58 million subscribers this year. Most analysts were expecting a total of 5.1 million new subscribers from Netflix from their previous broadcasts.
Nasdaq, S&P 500, and Dow
Two of the biggest
The Dow, on the other hand, tallied incremental losses despite having great performance surge from its components which involves; Johnson and Johnson, Procter & Gamble, and Travelers Cos. are expected to report record high increase from their previous quarter. Verizon managed to weigh down the index with missed profit expectations despite having amazing sales.
The quarterly reports are continuing to push the indices up; the S&P 500 continues to report a total of 76% of its companies reporting positive figures and surpassing most earnings expectations, and a total of 84% of the companies pulverizing sales estimates.
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