Nasdaq 100 Outlook and Netflix Earnings Miss May Cast a Shadow on Hang Seng and ASX 200
NASDAQ 100, HANG SENG, ASX 200 INDEX OUTLOOK:
Profit-taking appeared to have ramped up ahead of the peak earnings season; Netflix missed both Q1 user growth and forward guidance
Futures in Australia and Hong Kong are positioned for losses following a sour lead
Netflix Earnings, Pandemic, Treasuries, Asia-Pacific at Open:
The Nasdaq 100 index futures extended lower during the APAC morning hours as Netflix delivered a much lower-than-expected subscriber growth in the first quarter. The company added 3.98 million subscribers in the first quarter, compared to a 6.29 million forecast. This also marked a sharp decline from 15.77 million new users seen in Q1 2020. Looking ahead, the company is forecasting only 1 million new users in the second quarter, a stark miss from the 4.4 million expected. Netflix’s share price tumbled 10% in afterhours trade, setting a negative tone for the Asia Pacific tr