The entertainment giant Netflix (NASDAQ: NFLX) is set to announce its third-quarter 2021 financial results today after the markets close. Netflix is expected to post quarterly earnings of $2.56 per share and revenues are expected to be $7.48 billion.
Currently, Netflix’s share price is up 18% so far this year and the shares have continued to rise in value nearly every day for the past few months. On Monday, the stock closed 1.5% higher.
US stock futures edge higher on Tuesday ahead of busy earnings week. On Monday, Wall Street ended closed mixed after the release of weaker-than-expected US industrial production data.
Crude oil prices recovered from the early session losses and trades near the weekly highs, focus shifts to API and EIA inventory data. On Monday, the oil prices ended slightly lower following the release of weak Chinese economic data.
In the currency market, the EURUSD rose to a fresh weekly high of 1.1665 supported by the hawkish comments from ECB President Christine Lagarde. Lagarde still expects supply shortages or rising energy prices to be transitory.
The safe-haven metal holding the early session gains ahead of FED member speeches. Overall, the momentum remains bullish throughout the European session.
On the data front, the Reserve Bank of Australia released the last meeting minutes on Tuesday. the minutes showed the RBA expects the Australian economy to "return to growth in the December quarter and to its pre-Delta path in the second half of 2022".
Worldwide, more than 239.3 million people have been confirmed infected and more than 4.8 million have died. The United States has confirmed over 48.5 million cases and has had more than 715,000 deaths from COVID-19, the highest totals in the world.
Dollar Index: The king dollar remains under pressure for the second consecutive day. At the time of writing, the index trades below 93.60.
The important levels to watch for today: Support- 93.30 and 93.10 Resistance- 93.75 and 94.00.
GOLD: The precious metal trades near the $1780 resistance area. If the bullish momentum continues then the next upside level is to watch $1788 and $1795. On the downside, any meaningful pullback now seems to find some support near the $1772 zones, below which the slide could further get extended towards the $1760 region.
The important levels to watch for today: Support- 1772 and 1765 Resistance- 1788 and 1795.
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