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US STOCKS-Nasdaq futures retreat after Netflix subscriber slowdown

Published 21/04/2021, 12:21
© Reuters.
CSX
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NFLX
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(For a Reuters live blog on U.S., UK and European stock
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* Futures: Dow up 0.09%, S&P up 0.08%, Nasdaq off 0.09%

April 21 (Reuters) - Nasdaq futures edged lower on Wednesday
as Netflix kicked off quarterly earnings for technology
behemoths with a disappointing report, while concerns about a
surge in global coronavirus cases hit demand for equities.
The streaming service provider NFLX.O tumbled 8.1% in
premarket trading after its report showed slower production of
TV shows and movies during the pandemic hurt subscriber growth
in the first quarter. Wall Street closed lower in the previous session as a global
spike in coronavirus cases hit travel-related shares and
investors had second thoughts about big U.S. banks' apparently
stellar earnings last week.
Global stocks were also subdued on Wednesday due to rising
concerns over spiking COVID-19 infections in Asia and their
impact on oil prices. MKTS/GLOB
With the first-quarter earnings season picking up pace,
analysts expect profit for S&P 500 companies to jump 30.9% from
a year earlier, according to Refinitiv IBES data.
At 6:57 a.m. ET, Dow e-minis 1YMcv1 were up 30 points, or
0.09%, S&P 500 e-minis EScv1 were up 3.25 points, or 0.08%,
and Nasdaq 100 e-minis NQcv1 were down 12 points, or 0.09%.
Anthem Inc ANTM.N rose 2% after the health insurer raised
its profit target for 2021, as strength in its pharmacy benefits
management business helped it beat estimates for first-quarter
earnings.
U.S. railroad operator CSX Corp CSX.O fell 0.9% after it
missed estimates for first-quarter profit, hurt by frigid polar
vortex temperatures, ongoing pandemic disruptions and higher
fuel costs.

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