Dow Futures 140 Pts Higher; Netflix Disappoints With Growth Forecast By Investing.com – Investing.com

Dow Futures 140 Pts Higher; Netflix Disappoints With Growth Forecast By Investing.com – Investing.com

© Reuters.

By Peter Nurse   

Investing.com - U.S. stocks are seen opening mostly higher Wednesday, making a further recovery from Monday’s sharp losses despite disappointing results from streaming giant Netflix (NASDAQ:).

At 7:10 AM ET (1110 GMT), the contract was up 140 points, or 0.4%, traded 10 points, or 0.2%, higher, while dropped 20 points, or 0.1%.

The major equity indices had rebounded strongly on Tuesday from Monday’s Covid-inspired selloff, with the blue-chip gaining almost 550 points, its best day in more than a month, largely making back the previous day’s 700-point slump.

The second-quarter corporate earnings season is now in full swing, and a lot of Wednesday’s focus will be on Netflix after the streaming giant reported a net drop of 430,000 subscribers in the important North American market in the quarter. It also forecast 3.5 million net subscriber adds in the current quarter,  well below market expectations of nearly 5 million.

Chipotle Mexican Grill (NYSE:) will also be in the spotlight after the fast food chain impressed with its quarterly results as dine-in customers returned to its restaurants, but warned that higher costs will offset the benefit of the hikes in menu prices