Netflix is giving back its profits

Daily Analysis - 24/09/2019

Netflix is in red by giving back almost 47% of its gains

netflix


The past two months was a game-changer for the popular Netflix.

Last July Netflix’s stock was near its new record top. However, following a sudden decline of its subscribers and the surprising expanded competition in the streaming sector, Netflix stocks lost about 46% of its profits for 2019. Now it's official that the streaming giant has started to swim in negative waters since yesterday according to experts.

Netflix has been beaten by constant bad news in the past few months. For example, the loss of its most successful show “The Office” was removed from Netflix by NBC. After that, Netflix lost a significant number of U.S. customers and a huge loss on international subscriber adds.

U.S stocks lightly change


Yesterday US Stocks finished mainly unchanged while soft economic numbers from Europe increased concerns regarding the status of the global economy. The Nasdaq Composite dropped almost 0.1% to 8,112.45. The Dow Jones Industrial Average increased only 14.90 points and reached 26,949.98. The S&P 500 finished the day just under the support line at 2,991.76.

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Gold below its 14-days top


On Tuesday the famous yellow metal Gold was in a calm state. Basically, Gold increased to a more than 14-day top in the last trading session due to global retardation concerns. All this while a renewed China-US trade mood pressed on the popular Gold. US gold futures fell 0.2% at $1,528.49 per ounce. Spot gold didn’t change much and went to $1,521.15 per ounce, after rising to its most important level since Sept. 6 at $1,526.79 in the previous trading session.

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Dollar seems to be improving


On Tuesday Greenback stayed strong while the euro fought to stay even against signs of more economic pressures in the euro zone. That happened while GBP was near to a 7-day low before the important Supreme Court decision associated to the postponement of Britain’s parliament. Investors were also watching the China-US trade discussions which is estimated to reopen on October.

The Greenback slightly improved versus the Japanese yen to 107.58 and went higher versus a box of currencies to 98.663.

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