US shares moved larger on Wednesday, with the know-how sector main the market larger following a strong earnings report from Netflix.
Shares of Netflix jumped as a lot as 13% after the corporate mentioned it added a file 37 million paid subscribers in 2020, serving to to drive its working revenue up by 76%, to $4.6 billion.
The video-streaming firm additionally mentioned it anticipated constructive free-cash-flow era going ahead and would start to cease counting on the debt markets to gasoline its content material lineup; it might ultimately discover a stock-buyback program.
This is the place US indexes stood after the 9:30 a.m. ET open on Wednesday:
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Morgan Stanley reported fourth-quarter earnings that beat analysts’ expectations, pushed by the agency’s buying and selling unit and wealth-management arm.
Fashionable cryptocurrencies like Bitcoin and Ethereum pulled again on Wednesday after Janet Yellen, President-elect Joe Biden’s nominee for treasury secretary, said it might make sense to “curtail” their use as a result of they’re primarily used for illicit actions in a transactional sense.
Alibaba surged 7% after its founder, Jack Ma, resurfaced in a videoconference. Ma had not been seen in public for months as Chinese language regulators clamped down on the Ant Group preliminary public providing and Alibaba’s promoting practices.
Gold rose as a lot as 1.05%, to $1,859.60 per ounce.