Expectations for Netflix had gone so bad that the company could surprise with 970’000 less subscriptions last quarter. The smaller drop in subscriptions combined with higher fees increased the profit by 7% compared to the same time last year, despite near $340 mio the company lost due to a stronger US dollar. The share price jumped 8% in the afterhours trading, on top of 5% added during the session. And most technology stocks had a good day yesterday.
S&P 500 And Nasdaq
Nasdaq jumped 3%, while the S&P500 had its best day since three weeks, with a 2.76% gain. The motivation behind yesterday’s equity rally was rather obscure. A softer US dollar certainly helped boosting optimism about the earnings season.
Today, Tesla will release its latest quarterly earnings after the bell. Analysts expect around 2.5% revenue drop in the second quarter as a result of the factory shutdown in Shanghai due to the strict Chinese rules to achieve a zero Covid policy. Elsewhere, Twitter marked the first goal in the lawsuit against Elon Musk, as a Delaware judged allowed the company to accelerate the procedure. The trial is now set to take place as early as October, while Elon Musk’s legal team was considering a timeline like 3-4 years. The UK revealed that inflation advanced to 9.4% in June, from 9.1% printed a month earlier and 9.3% penciled in by analysts. Cable bounced back above the 1.20 mark on the back of a softer US dollar. As it is the case for the EURUSD, Cable could extend gains against the US dollar, if the dollar loses some of its strength, of course.
Watch the full episode to find out more!
0:23 Netflix surprises to the upside
2:29 US equities gain, but…
3:58 Tesla to report earnings today
5:18 Twitter scores the first goal in Musk trial
6:20 UK inflation hits 9.4%, revives BoE hawks
8:06 Gold under pressure, Bitcoin & Ethereum extend recovery
Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Netflix #Tesla #earnings #Twitter #ElonMusk #lawsuit #crude #oil #energy #crisis #USD #EUR #GBP #inflation #Fed #BoE #rate #hike #Gold #XAU #Bitcoin #Ethereum #rally #Merger #update #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH