Lane Generational founder and managing partner Fred Lane argues tech companies will remain profitable despite supply chain disruptions.
U.S. stock futures were little changed as earnings reporting picks up steam.
Dow Jones Industrial Average futures rose 8 points, or 0.02%, while S&P 500 futures and Nasdaq 100 futures edged up 0.02% and 0.06%, respectively.
BIG MONEY MANAGERS HOARD CASH, DUMP BONDS AS INFLATION FEARS MOUNT
In stocks, Netflix Inc. beat on earnings and posted inline revenue as the company added 4.4 million users, easily exceeding estimates. The company expects to add 8.5 million subscribers in the current quarter.
Facebook Inc. will change its group name next week as it seeks a makeover after coming under fire from lawmakers and regulators, according to a report from The Verge. The social network’s new name is expected to focus on the metaverse, a network of 3D worlds.
United Airlines Holdings Inc. posted a narrower than expected loss as travel demand rebounded despite an uptick in new COVID-19 infections. The airline did not say when it expects to return to profitability.
Oilfield services provider Baker Hughes Co. swung to a profit from a loss a year ago as crude oil prices bounced back, spurring a demand for its business.
In commodities, West Texas Intermediate crude oil slid 96 cents to $82 a barrel while gold jumped $10 to $1780.50 an ounce.
Overseas markets were mostly higher.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Germany’s DAX 30 led a choppy trade in Europe, trading up 0.13%, while Britain’s FTSE 100 rose 0.06% and France’s CAC 40 lost 0.09%.
In Asia, China’s Shanghai Composite slipped 0.17%, Japan’s Nikkei 225 edged up 0.14% and Hong Kong’s Hang Seng index jumped 1.35%.
