📈Streaming and Chinese stocks support rebound on Wall Street
Netflix results positively surprised investors - of course in terms of subscriber growth, and not necessarily financial data. Stocks of other streaming companies, such as Amazon and Disney, also rose sharply. Alphabet also gained, although it announced that it intended to lay off 12,000 people. This is related to the fact that during the pandemic some tech companies hired too many people. However, across the sector, it is clear that the strong employment growth of the last 2 years is now being revised.
Chinese companies listed in the US such as Alibaba, JD and Baidu are also performing well. This is related to the hopes surrounding the reopening of the Chinese economy and higher spending during the Chinese New Year celebrations!
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US100 gains nearly 1.3% thanks to revival of some technology companies and Chinese stocks. Today, less than 30 companies listed on Nasdaq 100 is trading in red. Interestingly, yields in the US are rising today, which closes the divergence with Nasdaq 100 (US100). Source: xStation5
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