Dow futures climb after strong Netflix numbers; Tesla earnings due
Investing.com — U.S. stock futures traded higher Wednesday, boosted by strong results from streaming giant Netflix as the quarterly earnings season kicks into top gear.
By 06:40 ET (11:40 GMT), the Dow Jones Futures contract was up 95 points, or 0.3%, S&P 500 Futures traded 20 points, or 0.5%, higher and Nasdaq 100 Futures climbed 120 points, or 0.7%.
The main U.S. averages closed in a mixed fashion Tuesday. The blue-chip Dow Jones Industrial Average slipped 0.3%, but the S&P 500 gained 0.3% to close at a record high for the third consecutive session and the Nasdaq Composite rose 0.4%.
Sentiment has received a boost from strong numbers from Netflix (NASDAQ:NFLX) after the close Tuesday, as the streaming giant added far more paying subscribers in the fourth quarter than Wall Street had expected.
The company signed up a hefty 13.12 million users during the three months ended on Dec. 31, a 71% surge compared to the year-ago period and markedly above analyst estimates of about 8.9 million. Revenue grew by around 12% year-on-year to $8.83 billion, also beating projections.
In a letter to shareholders, Netflix backed the health of its business, forecasting «healthy double-digit» annual top-line growth.
The quarterly earnings season continues Wednesday, with numbers from the likes of telecom giant AT&T (NYSE:T) and miner Freeport-McMoran (NYSE:FCX) due before the bell, while Las Vegas Sands (NYSE:LVS) and IBM (NYSE:IBM) will issue results after the close.
The big name due to report Wednesday is Tesla (NASDAQ:TSLA), with the electric vehicle manufacturer expected to forecast a 21% jump in deliveries this year. The guidance would be well below the long-term annual target of 50% put forward by CEO Elon Musk around three years ago,
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