Netflix plummets by a quarter because of subscriptions decrease

News of the day, Wednesday, April 20

The price of Brent crude may soar up to $185 if the EU bans Russian oil — JPMorgan analysts say. However, the ban on Russian energy sources is unlikely to be one-time. The Brent crude contracts lost more than 5% yesterday.

Tesla Inc. has brought back its 8000 employees to the production plant in Shanghai, which stayed suspended for around three weeks because of the Covid-19 flare. The factory’s workers will be living and sleeping at the factory in isolation, as lockdowns outside continue. 

Dow futures were trading lower yesterday in the evening as investors were shocked by the Netflix earnings report. Dow Jones Futures decreased by 0.1%, S&P 500 Futures dipped 0,3%, and Nasdaq 100 Futures slid by 0,8%. After reporting a loss of 200,000 subscribers, Netflix Inc plummeted by 25%. Other streaming tech companies like Roku Inc, Spotify Technology SA and Walt Disney Company also decreased by 6.3%, 4.3% and 4.5% respectively.

The price of Brent crude is $108.00, WTI — $102.80, GBP/USD — 1.3032, EUR/USD — 1.0855, and gold costs $1951.10 per ounce