Futures linked to the heavily tech-heavy Nasdaq 100 increased on Wednesday morning following the news that Netflix had set a new record for its fourth-quarter subscriber count.
S&P 500 futures gained 0.21% while Nasdaq 100 futures increased by 0.34%. Futures for the Dow Jones Industrial Average fluctuated close to the horizontal axis.
During extended trading, Netflix shares increased by 8.6%. The streaming service reached an all-time high of 260.8 million users after adding more than 13 million new ones in the fourth quarter. In addition, revenue above analyst expectations, and the company provided earnings guidance for the current quarter that exceeded estimates from Wall Street.
The mega-cap tech sector saw tremendous gains in 2024, which sent the S&P 500 to all-time highs and validated the start of a new bull market. These gains are being built upon by the streaming behemoth.
Source (CNBC)
