Netflix Inc NFLX shares are trading higher by 7.92% to $248.21 Monday afternoon. Shares of large-cap US tech companies are trading higher amid overall market strength as stocks across sectors gain. Quarterly earnings from US banks and a UK tax policy reversal have helped lift equities today. Shares of several companies in the broader tech sector, including Netflix, are also trading higher amid a fall in treasury yields, which has otherwise pressured growth stocks in recent sessions.
See Also: Netflix Q3 Earnings Preview — Analysts Pinpoint Key Metrics For Investors To Watch
The 10-year U.S. Treasury yield hit an intraday low of 3.920% Monday morning before rising to around the 3.950% level. When interest rates rise, the value of future cash flows is reduced, which in turn lower the value of the stock.
What Happened With Inflation Data Thursday?
According to data from the U.S. Bureau of Labor Statistics, the headline CPI rose 8.2% in September, down from 8.3% in August. The September CPI reading came in above average economist estimates of 8.1%.
On a month-over-month basis, CPI was up 0.4% versus average economist estimates for a 0.2% jump...Read More
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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