U.S. stock futures fell on Friday, but were protected from further declines after Israel's retaliatory attacks on Iran spooked markets and prompted a rush to safe-haven assets such as gold.
Dow Jones Industrial Average (^DJI) futures fell about 0.3%, rebounding from a 1.4% decline in after-hours trading. S&P 500 (^GSPC) futures fell 0.4%, and tech-heavy Nasdaq 100 (^NDX) contracts also fell 0.6%, also significant declines.
Despite urging allies to refrain from provoking a retaliatory cycle of military violence, markets initially reacted with alarm to signs that Israel had attacked an Iranian city with a nuclear facility. Few details about the strike have been released, but oil and gold prices soared as stock prices and Treasury yields fell, and Wall Street's CBOE volatility index hit a five-month high. Recorded.
Calm has returned and these movements have weakened as there are signs that the range of Israeli attacks is being limited. However, although Iran acknowledged the drone attack and said it failed, investors remain on high alert.
Stocks were already under pressure before the shock, with persistent uncertainty about a Federal Reserve rate cut dampening spirits.
The S&P 500 fell for the fifth day in a row on Thursday as investors absorbed disappointing returns from Netflix (NFLX). This weighed on hopes that quarterly profits would meet high expectations leading to a rebound in stock price gains. The streaming giant's stock, which was the first to be reported among big-cap tech companies, fell 6% in premarket.
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Here are the most important points about Netflix
Netflix (NFLX) stock is taking a beating in the premarket after a big quarter on just about everything.
Unsurprisingly, the stock was priced perfectly ahead of the report.
But above all the noise, this point made by Pivotal Research's Jeff Wlodarczak is the most important thing to bring up on Netflix right now.
“Netflix delivered first-quarter subscriber growth across the board driven by core markets in the US and EUR, with better-than-expected average revenue per user (successful fourth-quarter price increases in US/UK/France) Once again, we reported high-quality results.” This means a powerful combo of significantly increasing subscribers, capturing prices and expanding margins.. ”
There's nothing in the report to suggest that Netflix's fundamentals are struggling, and one has to wonder if today's drop in the stock price will buy it. Some would argue that the stock isn't that expensive compared to its historical trading levels.
Check out Netflix's current valuation compared to what we saw from 2016 to 2021, when the company wasn't fundamentally as strong as it is today. Of course, all data is provided by the Yahoo Finance platform.
You can further analyze this data on Netflix by going to the statistics section of the Netflix ticker page.
Netflix stock may not be that expensive on the surface. (Yahoo Finance)
