Shares of Netflix (NFLX) showed an increase at the beginning of the week in anticipation of the company’s upcoming earnings report due after Thursday’s closure. Despite concerns about a potential recession induced by tariffs affecting advertising spending, Wall Street analysts maintain an average “buy” rating on the stock. JPMorgan analysts highlighted Netflix’s strong subscriber base, positioning the company to withstand a volatile macro environment. The streaming giant’s shares were up 3% to around $946 in recent trading, marking a 6% year-to-date gain.
Looking at Netflix’s chart, technical analysis reveals crucial price levels to monitor prior to the release of the quarterly results. Since reaching a record high in mid-February, Netflix shares have been trending lower within a descending channel. Following a bounce near the lower trendline last week, there is potential for a post-earnings rally. The Relative Strength Index (RSI) showed an uptick, indicating accelerating momentum before a slight dip as the price consolidated. A breakdown from current levels could lead to a retest of last week’s intraday low at $821, with further support at $765 and potential for a rally to $1,000 and $1,065.
NATO’s acquisition of Palantir Technologies’ (PLTR) artificial intelligence-enabled military system led to a significant increase in the company’s stock, making them one of the top performers in the S&P 500. The acquisition of the Palantir Maven Smart System NATO (MSS NATO) demonstrates a step forward in NATO’s warfighting capabilities. This news propelled Palantir’s stock up by 4% in recent trading, following an earlier 8% surge, with shares showing a 25% increase since the beginning of the year and a more than 300% surge over the past 12 months.
Intel (INTC) saw a rise in shares after announcing the sale of a 51% stake in its programmable chip business Altera to private equity firm Silver Lake. The deal values Altera at $8.75 billion, with Intel holding the remaining 49% ownership stake. This move aligns with Intel’s commitment to focusing its efforts, reducing expenses, and strengthening its balance sheet. The transaction is expected to close in the second half of the year, with Raghib Hussain appointed as CEO of Altera.
Pfizer (PFE) decided to halt the development of an oral weight-loss pill after a clinical trial participant experienced a liver injury. The GLP-1 receptor agonist was anticipated to be a competitor to popular weight-loss treatments, but Pfizer decided to shift focus to other obesity programs. Shares of Pfizer saw a 1% increase, while Novo Nordisk and Lilly stock rose about 3% each.
Gold (XAUUSD) prices have been fluctuating after reaching record highs last week amidst ongoing global economic uncertainties. Investors have turned to the safe-haven asset due to concerns about a potential trade war impacting the global economy. Despite a recent uptrend, a bearish divergence between the Relative Strength Index (RSI) and the price suggests easing buying momentum. Key support levels to watch for gold are around $3,170, $3,048, $2,955, and $2,858.
Market futures indicate a positive start with Dow Jones Industrial Average futures up by 1.1%, S&P 500 futures rising by 1.7%, and Nasdaq 100 futures adding 2%. This upward trend in futures suggests a higher open for major indices in the upcoming trading session.