Technical Analysis

US equities decline for the second day. Netflix earnings up next

SPX intraday

It was a back-and-forth session for equities on Thursday as early selling reversed back to unchanged, then the bears sold again late. The FX market took a more upbeat view with commodity currencies climbing from the early-NY lows and cable finishing the day 50 pips higher.

Closing changes:

  • S&P 500 -0.7%
  • Nasdaq -0.9%
  • Russell 2000 -0.8%
  • Toronto TSX – flat

Netflix earnings are up after the bell and the consensus is for revenues at $7.85 billion and 45-cents in earnings. Q2 net subscriber additions are expected at 4.57m followed by 2.85m in the current quarter.

Update: NFLX subscriber add 7.86m vs 4.57m expected. The company is cracking down on password sharing more broadly in Q1 and Reed Hastings is stepping down as CEO. The market likes it with shares up to $336 from $316.

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