Netflix, Nord Stream, Earnings and Crude Inventories - What's Moving Markets

22 Tháng Bảy 2021
Netflix, Nord Stream, Earnings and Crude Inventories - What's Moving Markets © Reuters.

By Geoffrey Smith

Investing.com -- Netflix (NASDAQ:NFLX) disappoints with its subscriber growth forecasts, the U.S. relents in its efforts to stop a new Russian gas pipeline to Germany, the U.K. threatens to rip up its Brexit deal with the EU, and oil prices shake off a first build in two months for U.S. inventories. Earnings continue to flood in, with J&J, Texas Instruments (NASDAQ:TXN) and Coke leading the line-up. Here's what you need to know in financial markets on Wednesday, 21st July.

1. Netflix forecast disappoints

Netflix reported better-than-expected earnings for the second quarter but lost subscribers in its home market and disappointed some with a cautious approach to tapping new potential revenue streams such as video games.

The streaming giant, which hired Facebook (NASDAQ:FB) executive Mike Verdu to head a new videogaming business, said it doesn’t see gaming as a core product in the near term, but will make games available on mobile devices to test consumer appetite for them.  

The company lost a net 430,000 subscribers in the North American market in the quarter, a development that analysts put down to economic reopening, viewer fatigue and, to a degree, growing competition. Worldwide, it added 1.5 million subscribers, more than expected.  Its forecast of 3.5 million net subscriber adds in the current quarter was also well below market estimates of nearly 5 million.

2. U.S. set to drop Nord Stream opposition

The U.S. is set to drop its opposition to a new undersea gas pipeline from Russia to Germany, in what amounts to a conciliatory gesture to the countries at both ends of the pipe.

The Wall Street Journal reported that Germany had agreed in return to take unilateral action against Russia if it should ever use gas supplies as an economic weapon. That’s a nod to Poland, the Baltic States and, especially, Ukraine. Ukraine has suffered supply interruptions in the past after missing payments and siphoning gas destined for Gazprom (MCX:GAZP) customers in the EU.

Gazprom stock was up 0.3% in Moscow. It has nearly doubled since November as the prospects for completing the pipeline have improved, and as European gas prices have spiked to record levels.

3. Stocks set to extend recovery; J&J, Coke, Texas Instruments earnings due

U.S. stock markets are set to extend Tuesday’s recovery when they open later, after some aggressive ‘buying the dip’ strategies revived the market’s short-term momentum despite concern at the spread of Covid-19.

By 6:15 AM ET (1015 GMT), Dow Jones futures were up 173 points, or 0.5%, while S&P 500 futures were up 0.4% and Nasdaq 100 futures were essentially flat, as Netflix’s figures reminded people of the limits of pandemic-driven growth.  

Earnings season continues in full swing, with early updates from Johnson & Johnson (NYSE:JNJ), Coca-Cola (NYSE:KO), Verizon (NYSE:VZ), Texas Instruments and Anthem, and reports after the bell from Crown Castle (NYSE:CCI), Equifax (NYSE:EFX), Whirlpool (NYSE:WHR) and CSX (NASDAQ:CSX).

In Europe, SAP raised its revenue growth forecast for the second time this year, while ASML, which makes printing machines for silicon chips, also raised its sales growth forecasts.

4. Sterling struggles as U.K. threatens Brexit deal

The British pound continued to struggle as the U.K. government moved closer to ripping up its deal with the European Union on how to manage trade on the island of Ireland.

The government will set out new proposals that effectively scrap the internal border between the British province of Northern Ireland and mainland Britain. That border was established as part of the EU Withdrawal Bill enacted by Boris Johnson’s government to safeguard border-free trade between Northern Ireland and the Republic of Ireland.

Sterling has been under pressure all week, as surging Covid-19 cases force more and more people into self-isolation, badly affecting much of the economy.  Nick Allen, chief executive of the British Meat Processors Association, told the BBC earlier that the U.K.’s food supply chains were “starting to fail” as a result of mass self-isolation.

5. Oil shakes off inventories build

Crude oil prices followed risk assets higher, shaking off the first weekly rise in U.S. crude oil stocks since May. Figures from the American Petroleum Institute on Tuesday suggested that inventories rose by over 800,000 barrels, breaking an eight-week streak of draws.

The government’s official inventory data are due as usual at 10:30 AM ET.

By 6:30 AM ET, U.S. crude futures were up 1.2% at $67.95 a barrel, while Brent crude futures were up 1.2% at $70.15 a barrel.

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24-07-2021 17:32:36 (UTC+7)

EUR/USD

1.1773

+0.0003 (+0.03%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (8)

Sell (1)

EUR/USD

1.1773

+0.0003 (+0.03%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (8)

Sell (1)

GBP/USD

1.3747

-0.0016 (-0.12%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

USD/JPY

110.56

+0.41 (+0.38%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (2)

AUD/USD

0.7365

-0.0013 (-0.18%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (2)

USD/CAD

1.2560

-0.0004 (-0.03%)

Summary

Neutral

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (4)

Sell (1)

EUR/JPY

130.16

+0.53 (+0.41%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

EUR/CHF

1.0827

+0.0013 (+0.12%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (3)

Gold Futures

1,801.90

-3.50 (-0.19%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

Silver Futures

25.235

-0.146 (-0.58%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (8)

Copper Futures

4.4553

+0.1178 (+2.72%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (5)

Crude Oil WTI Futures

72.17

+0.26 (+0.36%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

Brent Oil Futures

74.20

+0.41 (+0.56%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (1)

Natural Gas Futures

4.046

+0.043 (+1.07%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (0)

Sell (5)

US Coffee C Futures

191.88

-1.77 (-0.91%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Euro Stoxx 50

4,109.10

+50.05 (+1.23%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (1)

S&P 500

4,411.80

+44.32 (+1.01%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (8)

DAX

15,669.29

+154.75 (+1.00%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (1)

FTSE 100

7,027.58

+59.28 (+0.85%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (4)

Hang Seng

27,284.87

-415.75 (-1.50%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (5)

Sell (1)

US Small Cap 2000

2,209.41

+9.94 (+0.45%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (2)

IBEX 35

8,717.20

+95.40 (+1.11%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (8)

BASF SE NA O.N.

67.030

+0.470 (+0.71%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (3)

Bayer AG NA

51.20

+0.06 (+0.12%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (1)

Allianz SE VNA O.N.

210.50

+1.78 (+0.85%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

Adidas AG

317.70

+5.38 (+1.72%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Deutsche Lufthansa AG

9.849

+0.105 (+1.08%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (5)

Siemens AG Class N

134.65

+0.49 (+0.37%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Deutsche Bank AG

10.590

+0.175 (+1.68%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (2)

 EUR/USD1.1773Neutral
 GBP/USD1.3747↑ Sell
 USD/JPY110.56↑ Buy
 AUD/USD0.7365Buy
 USD/CAD1.2560Neutral
 EUR/JPY130.16↑ Buy
 EUR/CHF1.0827↑ Buy
 Gold1,801.90↑ Sell
 Silver25.235↑ Sell
 Copper4.4553Neutral
 Crude Oil WTI72.17↑ Buy
 Brent Oil74.20↑ Buy
 Natural Gas4.046Neutral
 US Coffee C191.88↑ Buy
 Euro Stoxx 504,109.10↑ Buy
 S&P 5004,411.80↑ Sell
 DAX15,669.29↑ Buy
 FTSE 1007,027.58Neutral
 Hang Seng27,284.87Neutral
 Small Cap 20002,209.41↑ Buy
 IBEX 358,717.20↑ Sell
 BASF67.030Neutral
 Bayer51.20↑ Buy
 Allianz210.50↑ Buy
 Adidas317.70↑ Buy
 Lufthansa9.849↑ Sell
 Siemens AG134.65↑ Buy
 Deutsche Bank AG10.590↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,695/ 5,750
(0/ 0) # 744
SJC HCM5,680/ 5,745
(-5/ -5) # 728
SJC Hanoi5,680/ 5,747
(-5/ -5) # 730
SJC Danang5,680/ 5,747
(-5/ -5) # 730
SJC Nhatrang5,680/ 5,747
(-5/ -5) # 730
SJC Cantho5,680/ 5,747
(-5/ -5) # 730
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