Traders look towards Netflix earnings

Gains in stock markets have slowed as traders turn their eye to the resumption of big-name earnings in the US, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.

FTSE 100 fights to move higher

“The past few sessions have seen the FTSE 100 pinned just below 7500, as buyers and sellers fight hard to establish control. The urge to go dip-buying remains strong, but last week’s UK CPI figure continues to loom large as traders reprice expectations around the BoE’s next move. And without any AI or tech stocks to lift it, the index finds itself unable to match recent gains in the US.”

Wall Street edges down ahead of Netflix earnings

“Traders who were cheering on the market as it rallied to fresh highs now find themselves adopting a more cautious tone as they await Netflix earnings tonight. As the first of the ‘Magnificent 7’ to report, the video-sharing giant will likely have an outsize move on the market in the short-term. Having gained 45% since October the stock does look ripe for a little profit-taking, even if the medium-term outlook remains solid.”