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Nasdaq and S&P 500 futures rise as Netflix jumps after earnings beat
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Nasdaq and S&P 500 futures rise as Netflix jumps after earnings beat

U.S. stock futures rose on Friday, with technology leading the way, as investors welcomed Netflix’s (NFLX) overall profit margin ahead of its next set of corporate results.

Futures on the tech-heavy Nasdaq 100 () rose about 0.4%, while those on the S&P 500 futures () added 0.2%. Dow Jones Industrial Average futures () were little changed after hitting a new record high.

The major stock indexes are all on track for a sixth straight weekly gain after a strong performance by the big banks to kick off earnings season.

Netflix’s results late Thursday eased some concerns that Big Tech names could struggle in the third quarter as they did last quarter. The streaming giant’s profits rose and exceeded Wall Street estimates, while revenue and subscriber growth were also stronger than expected. Shares rose more than 6% in premarket trading.

At the same time, a recovery in Chinese stock markets fueled gains in US-listed stocks Alibaba (BABA), JD.com, (JD) and PDD (PDD). The rally took place amid renewed optimism about more stimulus measures to help the Chinese economy.

In commodities, gold prices (GC=F) reached a new record high, surpassing $2,700 per ounce for the first time. Concerns about the conflict in the Middle East and uncertainty about the outcome of the US presidential election led to a shift towards less risky assets.