Futures point to negative open, Netflix falls more than 20%

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  • The main Wall Street indices in negative after the fall on Thursday.
  • Netflix shares in the premarket plummet.
  • Dollar trades mixed, Treasury yields down.

The futures market points to a negative open for the main Wall Street indexes on Friday, extending the decline that took place on Thursday. S&P 500 futures lost 0.51% and Nasdaq futures lost 0.83%.

The corporate results of Netflix and Peloton below expectations contribute to the negative climate in the equity markets, which had already been hit by the expectation of interest rate hikes by the Federal Reserve. Netflix stock loses more than 20% in the premarket.

The US central bank will meet next week and is expected to open the doors for an interest rate hike in March. Treasury bond yields reached their highest in months days ago, but have fallen in the last three days as investors seek refuge and after lower-than-expected US economic data.

The 10-year rate is at 1.76% prior to the formal opening of Wall Street, the lowest level in a week. The 30-year bond yields 2.08%, also the lowest in a week.

The dollar pulls back with DXY shedding 0.23% at 95.55. The weakest currency in the G10 is being the pound sterling. Commodities have rallied in the last hour, with gold, silver and oil erasing almost all daily losses. Those who do not recover are the cryptocurrencies, the Bitcoin trades at 38,200, a drop of more than 7%.

Technical levels

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