Nasdaq Futures Point to Extended Gains on Netflix – Europe Market Wrap
US stock futures increased slightly on Friday as it appeared that the Big Tech comeback would continue, due to Netflix’s better-than-expected results.
In premarket trade in the US, Netflix surged 6%, while contracts on the tech-heavy Nasdaq 100 increased by 0.3%. In the third quarter, the streaming service added more subscribers than anticipated, among other important data.
After a slew of positive US economic data on Thursday reshaped expectations for interest-rate cuts, Treasury bonds recovered from their sharp selling. Retail sales that above expectations demonstrated how consumer spending still drives the US economy.
The Stoxx 600 index in Europe increased by 0.3% thanks to a surge in mining stocks following the most recent economic news from China.
In the midst of continued Middle East tensions, gold surged to a new high, and the price of US crude, West Texas Intermediate, slightly increased to roughly $71 per dollar.
