Investors are gearing up for a mixed opening in the US stock market, following a strong performance in the previous session driven by tech optimism. Here are the top five things to know today:
Mixed US Stock Futures After Near-Record Highs
US stock futures are trading mixed, with S&P 500 futures edging lower after the index nearly hit a record high. Nasdaq futures are down 0.5% after a 1.3% gain in the previous session, while Dow Jones Industrial Average futures are ticking higher. The mixed performance comes as investors assess the outlook for the US economy and corporate earnings.
Netflix Stock in Focus After Blowout Earnings Report
Netflix (NFLX) shares remain in focus after the streaming giant reported better-than-expected earnings. The company’s revenue and profits grew faster than analysts anticipated, sending its shares up nearly 10% to lead S&P 500 risers. Netflix also announced a price hike, and its shares hit an all-time high on Wednesday. The stock is ticking higher in premarket trading.
UK Launches Antitrust Investigation into Apple and Google
The UK’s Competition and Markets Authority (CMA) has launched an investigation into the mobile ecosystems of Apple (AAPL) and Alphabet’s (GOOGL) Google. The probe will examine whether the companies hold “strategic market status” and will focus on their operating systems, app stores, and mobile browsers. The CMA aims to ensure effective competition in the market.
GE Aerospace Stock Surges on Strong Quarterly Results
GE Aerospace (GE) stock is jumping 7% in premarket trading after the company reported quarterly results that easily surpassed analysts’ estimates. The airplane engine manufacturer posted net income of $1.9 billion, or $1.75 per share, on $10.81 billion in revenue. This exceeded analysts’ expectations of $1.2 billion, or $1.10 per share, on $10.01 billion in revenue.
Electronic Arts Stock Plunges on Weak Demand for Popular Games
Electronic Arts (EA) shares are plummeting 16% in premarket trading after the video game maker reported weak demand for its popular games. The company cut its outlook, projecting fiscal third-quarter net bookings to be $2.22 billion, down from the previous estimate of $2.4 billion to $2.55 billion. Electronic Arts cited a slowdown in its Global Football segment, which features the EA SPORTS FC franchise, as well as disappointing engagement with its Dragon Age franchise.
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