A look at the day ahead in U.S. and global markets from Mike Dolan.
shares surged 7% in after-hours trading as the firm said it picked up more subscribers than expected - some 7.7 million - at the end of last year while co-founder Reed Hastings stepped down as chief executive and handed the reins to longtime partner Ted Sarandos and chief operating officer Greg Peters.
With aggregate S&P500 earnings tracking a year-on-year contraction of about 3% for the fourth quarter, the Netflix news was welcome. State Street and Schlumberger are among the firms reporting later on Friday.on Thursday filed for U.S. bankruptcy protection from creditors, toppled by a market rout along with the likes of exchange FTX and lender BlockFi.
Federal Reserve officials have been resolute all week in insisting policy rates will go above 5% this year from the current 4.25-4.50% range and won't come down until 2024. With many investors likely to avoid short-term debt instruments and related cash-management vehicles until the issue is resolved, theof the concern this week has been the biggest inversion in the 3-month-to-10-year yield curve in 40 years.
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