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US pre-open: Futures in the red as Netflix earnings disappoint

By Iain Gilbert

Date: Friday 21 Jan 2022

US pre-open: Futures in the red as Netflix earnings disappoint

(Sharecast News) - Wall Street futures were in the red ahead of the bell on Friday as Netflix weighed on the tech-heavy Nasdaq and bond yields eased off somewhat but remained elevated.
As of 1205 GMT, Dow Jones futures were down 0.21%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.48% and 0.86% weaker, respectively.

The Dow closed 313.26 points lower on Thursday, extending losses recorded in the previous session after this week's jobless claims figures came in hotter than expected.

The yield on the benchmark 10-year Treasury note was still in focus before the open on Friday, with the note hovering at around 1.791% ahead of the Federal Reserve Bank's two-day meeting next week.

In the corporate space, Netflix shares tumbled 19% in pre-market trading after the streaming giant's fourth-quarter earnings revealed a slowdown in subscriber growth throughout the period, while Peleton shares were also in focus after news broke that the company will temporarily cease production of its fitness products.

On the macro front, the Conference Board's December leading index will be published at 1500 GMT, while Treasury secretary and former Federal Reserve chair Janet Yellen will deliver a speech at 1630 GMT.

No major earnings were slated for release on Friday.


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