Netflix Inc (NASDAQ:NFLX) shares are trading higher by 4.30% to $197.23 Monday morning amid overall market strength. The company reports second-quarter earnings Tuesday.
What Happened?
Market indexes are higher Monday following better-than-expected second-quarter earnings from Goldman Sachs, which has lifted market sentiment at large going into the earnings season.
Markets also continue to assess inflation concerns and Fed policy outlook. Heightened U.S. inflation has raised concerns of aggressive Fed policy tightening, which would pressure economic growth.
Why it Matters
Worse-than-expected June CPI data reported last week has caused recession concerns and concerns of more aggressive Fed policy, which could impact consumer spending. The Consumer Price Index rose 9.1% for the month of June, above estimates of 8.8%.
Traders and investors will be watching for Netflix’s first-quarter earnings report, confirmed for Tuesday after the market close. According to analyst consensus estimates, Netflix is expected to report EPS of $2.96 on revenue of $8.04 billion.
According to data from Benzinga Pro, Netflix has a 52-week high of $700.99 and a 52-week low of $162.71.
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