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.

Oil costs rose. West Texas Intermediate crude jumped as a lot as 1.32%, to $53.68 per barrel. Brent crude, oil’s worldwide benchmark, gained 1.13%, to $56.63 per barrel, at intraday highs.

Gold rose as a lot as 1.05%, to $1,859.60 per ounce.

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