Market Overview

Netflix Higher Following T-Mobile Deal

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Netflix, Inc. (NASDAQ: NFLX) shares are trading higher by $3.23 at $177.75 in Wednesday's session.

So far, the stock isn't affected by the European Union planning to overhaul and raise tax bill for online giants. Instead, Netflix is getting a boost from a new promotion whereby T-Mobile ONE families will be given free access to all of Netflix's content.

After a higher open, Netflix retreated but found support in between Tuesday's low ($172.44) and Tuesday's close ($174.52), reaching $173.73 before embarking on a rally. The pace of the rally accelerated once it surpassed the pair of highs from August 31 ($176.24) and September 1 ($176.48), so far taking the stock to $178.08 as of 1:35 p.m. EST. That level is just shy of its August 8 close of $178.36.

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