Netflix (NASDAQ: NFLX) shares slump: Aus shares set to open higher

Market Reports

by Katrina Bullock

Aussie shares are set to edge higher at the open despite falls in international markets overnight. Fears of another coronavirus wave continue to weigh on international markets. Meanwhile US retail sales jumped 7.5 per cent in June following an 18.2 per cent rise the previous month. Netflix's (NASDAQ: NFLX) quarterly report disappointed investors, with shares sinking 10 per cent in New York as the company scrambles to create fresh content and grow its subscriber base.

Markets

The Dow Jones Industrial Average closed 0.5 per cent lower. The S&P500 index dropped 0.3 per cent. The Nasdaq Composite fell 0.7 per cent lower.

The FTSE 100 index closed 0.7 per cent lower. Paris closed 0.5 per cent lower. And Frankfurt closed 0.4 per cent lower.

Asian markets also took a tumble as investors saw profit taking from the bull run over the past 2 weeks. The Nikkei 225 index closed 0.8 per cent lower. Hong Kong’s Hang Seng fell 2 per cent and the Shanghai Composite closed 4.5 per cent lower.

Taking all of this into equation, the SPI is pointing to a rise of 16 points or 0.3 per cent.

Yesterday, the S&P/ASX 200 closed 42 points or 0.7 per cent lower at 6,011.

Company news 

Digital education provider, 3P Learning (ASX:3PL) has appointed Ms Jia Chen Wang as Company Secretary and Legal Counsel effective from yesterday. The company says “Elizabeth is an experienced company secretary and lawyer and has held various similar positions in the listed space for the past decade”. This follows the resignation of Dimitri Aroney as Company Secretary. He will continue within the Company as Chief Financial Officer. Shares in 3P Learning (ASX:3PL) closed 1 per cent lower at $1.05 yesterday.

Currency

One Australian dollar at 7am was buying 69.72 US cents, 55.55 pence, 72.82 yen and 61.28 Euro cents.

Commodities

Ion ore futures are eyeing a one per cent fall.

Gold has lost $17 to US$1,797.

Silver has lost $0.25 to US$19.52.

And crude oil has lost $0.49 to US$40.71 a barrel.