Investing.com — US stock futures showed little movement on Friday as investors digested a mix of corporate earnings and fresh growth data from China. Netflix reported better-than-expected quarterly income, indicating a shift towards prioritizing profit over subscriber growth. Additionally, gold prices reached an all-time high, driven by strong safe-haven demand.
### Futures Waver
US stock futures remained near the flatline on Friday following a varied performance on Wall Street the day before. By 03:31 ET (07:31 GMT), the S&P 500 e-mini contract had declined by 30 points or 0.1%, the Nasdaq 100 e-mini had gained 4 points or 0.1%, and the Dow e-mini had risen by 33 points or 0.2%.
Healthcare stocks struggled on Thursday, with Elevance Health and other companies seeing declines after profit outlook cuts. However, chipmakers like Micron Technology and Broadcom saw some gains, supported by positive results from Taiwan Semiconductor Manufacturing Co. The overall performance of major indices was mixed by the end of the trading day.
### Netflix’s Profitable Quarter
Netflix’s third-quarter results exceeded expectations, with the company focusing more on generating profits rather than rapid subscriber growth. The company added 5.07 million subscribers, although the rate of growth has slowed compared to the previous year. Despite this, Netflix’s earnings per share and revenue surpassed projections.
In the current quarter, Netflix anticipates a dip in net income but is implementing price increases in certain markets to drive revenue growth. These strategies indicate a continued emphasis on profitability over sheer user numbers.
### Chinese Growth Slows
China’s economy expanded at a slower pace in the third quarter, underscoring the challenges facing Beijing as it aims to stimulate economic activity in the country. Despite efforts to bolster growth, deceleration in GDP growth was observed, indicating the need for further measures to spur economic recovery.
Equities in China initially dipped after the data release but recouped losses later on as the People’s Bank of China introduced lending programs to support equity markets. This highlights the delicate balance China faces in sustaining economic growth amidst external and internal pressures.
### Record High for Gold
Gold prices reached a record high in Asian trading, backed by robust safe-haven demand amidst geopolitical tensions and economic uncertainty. The precious metal continues to be a favored investment during times of volatility, attracting investors seeking stability in uncertain times.
The uptrend in gold prices aligns with a broader trend of investors looking for safe assets to hedge against risks in the global markets. Additionally, the rise in gold prices may signal concerns over inflation and economic instability.
### Oil Prices Inch Up
Oil prices saw a slight increase on Friday after facing concerns over demand, marking their largest weekly loss in over a month. Both benchmarks, Brent crude and West Texas Intermediate, showed signs of recovery after data revealed a decline in US inventories.
While OPEC and the International Energy Agency revised down their forecasts for global oil demand, economic weakness in China remains a key factor influencing market sentiment. The fluctuation in oil prices underscores the delicate balance between supply, demand, and economic conditions in the energy sector.
