Nasdaq 100 Price Outlook:
- The Nasdaq[1] 100 recovered from a volatile start to the week just as Netflix earnings are set to arrive
- A disappointing quarter could undermine risk appetite, just as the Nasdaq encounters resistance
- 3 Things to Know When Trading Earnings Announcements[2]
Nasdaq 100 Forecast: Netflix Earnings Loom as Tech Sentiment Teeters
The trading week began with a volatile session for the Nasdaq 100 which sent the tech-heavy index spiraling lower ahead of earnings from some of the country’s largest financial institutions. In the days that followed, the Nasdaq recovered admirably but the sudden surge in risk aversion is a worrisome sign ahead of earnings from some of the most popular Nasdaq components. First up to bat is streaming provider and content producer Netflix.
Often included in acronyms that bundle high-flying technology stocks, Netflix has long been afforded a high degree of influence in the technology sector. Further still, the streaming service was identified as a possible outperformer back in April, as many analysts correctly predicted an uptick in subscribers amid government mandated stay-at-home orders.
Unsurprisingly, the company went on to enjoy a boost in users and hours of content streamed. Now, market participants will look for further follow-through from Netflix in an attempt to justify months of gains the stock has enjoyed.
Crude Oil Price Trapped at Resistance as Other Risk Assets Climb[3]
While the quarterly results may have a large impact on shares of Netflix specifically, takeaways from the report could spillover into other leading stocks and the entire Nasdaq. To be sure, the sensitive state of risk appetite may only exacerbate the impact of the coming reports. With that in mind, an acceptable result from the FANGMAN group may be pivotal for other growth-linked markets like
