- Top laggard SVB gave up $72.43, or 23.95% Friday Playtika had a negative day Friday (down 2.16%).
- European markets are in session with varied performances.
Friday's market activity meant that markets were up Friday; Dow Jones closed the day at 31,083, having gained 2.47%. S&P 500 ended the session at 3,752.75 after a 2.37% gain.
US markets are set to open today in around 4 hours. In the meantime, European markets are currently mixed so far this session. Asia-Pacific markets closed higher today whilst ASX 200 leaps up to 6,779.4 (up 1.54%).
With Q3 earnings season getting underway, around 82.35% of US companies have beaten market estimates so far. This past week, Johnson & Johnson and Lockheed Martin published their earnings reports while Microsoft & Alphabet are scheduled to release their results in the coming days.
Friday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Crude Oil Inventories is projected to outperform its last figure with 1.38 million. It previously stood at -1.73 million; data will be released Wednesday.
Also worthy of note, as things stand, upcoming United States Consumer Confidence data is projected to fall short of market expectations with newly published data of 106.5, following on from the preceding figure of 108. New data is set to be published tomorrow at 14:00 UTC.
Furthermore, the market is looking at United States New Home Sales (Sep) is scheduled for Wednesday.
While most stocks did well Friday, some did better than others as Netflix trades at $289.57 having gained 8%.
Friday's bullishness contained stock stragglers as noticeable risk-on sentiment wasn't enough to prevent SVB giving up $72.43, or 23.95%, before ending the session at $230.03. Playtika had a negative day Friday (down 2.16%).
A bad day for SVB Financial Group Friday, losing 23.95%
SVB trades at $230.03 after dropping by 23.95% ($72.43), its largest single-day drop since April 2009. Friday's 23.95% loss extends a 5 day bearish run in which SVB had already lost $31.05 from its share value. Daily trading volume (5.63 million shares) was higher than the current multiday average of 862,426.
Friday Netflix increased by 8%, ended the session at $289.57
Friday continued on the same track for Netflix — the streaming heavyweight went up to $289.57, gaining 8%. Netflix's market cap currently stands at $128.86 billion with an average daily volume of 15.93 million shares. So far in 2022, it has been under-performing the Nasdaq by 6.59%.
Netflix released its quarterly earnings report Tuesday, beating analysts estimates. The company reported earnings of 3.1 per share on revenue of $7.93 billion, topping estimates of 2.18 per share on revenue of $7.85 billion. Since the release of its earnings report, Netflix gained 18.14%.