January 20, 2023

Dow futures trade higher, Netflix up 6.9% after earnings

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By Oliver Gray

Investing.com – U.S. stock futures were trading slightly higher during Thursday’s evening trade, with major benchmark averages declining during regular trade as the Fed’s Brainard noted the need to keep interest rates higher despite signs of slowing inflation.

By 6:45pm ET (11:45pm GMT) Dow Jones Futures and S&P 500 Futures were up 0.1% apiece, while Nasdaq 100 Futures lifted 0.3%.

In extended deals, Netflix (NASDAQ:NFLX) lifted 6.9% after reporting Q4 EPS of $0.12 versus $0.59 expected, while revenues came in at $7.85 billion versus $7.84 billion expected.

Nordstrom, Inc. (NYSE:JWN) fell 5.6% after the company reported weaker than expected holiday sales and cut its year-end forecast

Ahead in Friday’s session, market participants will be monitoring speeches from Harker and Waller, while earnings results from companies including Schlumberger NV (NYSE:SLB), State Street Corp (NYSE:STT) and Ally Financial Inc (NYSE:ALLY) will be closely watched.

During Thursday’s regular trade, the Dow Jones Industrial Average lost 252.4 points or 0.8% to 33,044.6, the S&P 500 lost 30 points or 0.8% to 3,898.9 and the NASDAQ Composite declined 104.7 points or 1% to 10,852.3.

On the bond markets, United States 10-Year rates were at 3.401%.

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