Netflix shares are surging in pre-market trading
U.S. stock futures are pointing toward a mixed open this morning. The Dow Jones Industrial Average (DJIA) looks set for a meaningful pullback after yesterday's massive rally, with Dow component IBM (IBM) down pre-market after earnings. On the other hand, Nasdaq-100 (NDX) futures are comfortably above fair value, thanks to impressive Netflix (NFLX) earnings. The market is also anxiously awaiting the release of the latest Fed meeting minutes later today, which could shift the focus back to rising interest rates.
Continue reading for more on today's market, including:
Data from Schaeffer's Senior Quantitative Analyst Rocky White shows why small-cap stocks have the advantage right now. A social media stock bulls can target. Options traders reacted quick to the Twilio stock sell-off. Plus, NFLX shares rise; IBM's post-earnings move; and a semiconductor stock set to surge.
Asian markets followed Wall Street's Tuesday lead, and closed higher in today's session. Japan's Nikkei picked up 1.3% with a push from tech, specifically SoftBank, after Chief Operating Officer Marcelo Claure said the company - which has ties to Saudi Arabia - is still performing "business as usual" despite the disappearance of a U.S. journalist. Meanwhile, South Korea's Kospi closed 1% higher, China's Shanghai Composite added 0.6%, and markets in Hong Kong were closed for holiday.
Stocks in Europe are mixed at midday, as investors digest a tame consumer inflation reading out of the U.K. and gear up for Brexit talks scheduled for later this afternoon in Belgium. Disappointing European auto sales have car stocks weighing heavy, and at last check, London's FTSE 100 is 0.3% higher, while Germany's DAX is down 0.4%, and France's CAC 40 is 0.2% lower.