Nasdaq 100 futures rise after Netflix posts subscriber jump: Live updates

Futures tied to the tech-heavy Nasdaq 100 climbed Wednesday morning after Netflix reported its subscriber count reached a new record in the fourth quarter. 

Nasdaq 100 futures rose 0.34%, while S&P 500 futures gained 0.21%. Dow Jones Industrial Average futures oscillated near the flat line.

Netflix shares surged 8.6% in extended trading. The streaming company added more than 13 million new subscribers in the fourth quarter, bringing its total subscriber count to an all-time high of 260.8 million. Revenue also topped analysts’ estimates, and the company issued earnings guidance for the current quarter that beat Wall Street’s forecasts. 

Netflix’s subscriber increase “indicates the ongoing strength in the scaling of the ad-tier business, particularly scaling up at the end of last year, and also the momentum the company’s building and its crackdown on password sharing,” Jamie Lumley, senior analyst at Third Bridge Group, said on “Closing Bell: Overtime” on Tuesday. 

The streaming giant’s gains build upon mega-cap tech’s strong gains in 2024, which have fueled the S&P 500 to record highs and confirmed a new bull market. 

To be sure, the Dow pulled back 0.25% during Tuesday’s main trading session following disappointing earnings reports and guidance from several blue-chip companies. Meanwhile, the S&P 500 gained 0.29% to reach an all-time closing high. The Nasdaq Composite added 0.43%. 

Earnings reports expected on Wednesday include telecom giant AT&T and Freeport-McMoRan before the bell. Tesla, Las Vegas Sands and IBM will issue results after the close.

On the economic front, traders will be looking toward U.S. manufacturing and services data for January. Fourth quarter gross domestic product will also be released later in the week.