© Reuters. By Peter Nurse
Investing.com: US stocks will end the week a bit longer, but trade is likely to be cautious as investors follow suit for a profit season that is generating a good deal of disappointment, the latest of which came from the giant Netflix stream (NASDAQ :).
Netflix, one of the biggest beneficiaries of the wave of blockades worldwide in the second quarter, reported after the bell on Thursday that it expects subscriber growth to slow to 2.5 million in the third quarter, less than half of what Wall Street had expected. . Its shares fell 8.2% at 7:15 am ET (1115 GMT).
However, the broader market rose: it traded 11 points, or 0.4%, higher, 95 points or 0.9%. The contract rose 53 points, or 0.2%.
As things stand, the cash ratio was up 1% on the week, up 2.5%, while 1.4% is lower.
The previous Friday, Blackrock (NYSE 🙂 reported a 22% increase in earnings per share for the quarter, somewhat better than expected. The world’s largest asset manager also reported $ 100 billion in net inflows and $ 1.1 billion in share buybacks. Its stock gained 1.9% of premarket.
Optimism about the overall recovery trajectory still exceeds alarm at the spread of the coronavirus in the US On Thursday, the US reported a new daily record of more than 77,000 new cases of the virus, bringing its total to more than 3.5 million. Deaths in the United States also reached their highest point in a single day since early June.
More than 13.8 million people worldwide have been diagnosed with Covid-19, with Brazil passing 2 million and India the 1 million mark. More than 590,000 have died, according to data from Johns Hopkins University.
Meanwhile, the United States and China continue to train. The Wall Street Journal reported Thursday that administration officials are discussing a ban on travel by members of the Chinese Communist Party and their families to the United States, in response to the new security law in Hong Kong, while There are likely to be further measures against Huawei and the video service. Tik Tok.
Friday’s US economic data includes the latest, which is expected to have risen 1.1 million in June, after rising just under a million in May. They are expected to have increased to 1.29 million from 1,216 million a month earlier.
The index is expected to rise to 79 in July, from 78.1 last time.
Oil prices were lower, but essentially limited to the range. At 7:05 am ET, futures were trading 0.6% lower at $ 40.52 per barrel, while they fell 0.6% at $ 43.11.
Elsewhere, it rose 0.3% to $ 1,805.65 / oz, while it traded at 1.1427, up 0.4%.
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