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Israel strikes Iran, oil prices, Netflix earnings: 3 Things

Stock futures edge lower (^DJI, ^IXIC, ^GSPC) ahead of Friday's market open after Israel retaliated against Iran by launching its own series of airstrikes.

Crude oil futures (CL=F, BZ=F) retreat on the headlines of increasing Middle East tensions, centered around the airstrikes coordinated by Israel last night.

Lastly, Netflix (NFLX) shares fall in pre-market trading in the wake of reporting 9.3 million new subscriber additions in its first quarter. Ultimately, the streamer's second-quarter revenue forecasts have seemed to disappoint investors.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.


This post was written by Luke Carberry Mogan.

Video transcript

- Futures in the red after Israel carried out a retaliatory military operation against Iran overnight. Three explosions heard close to a military base in Central Iran after Israel launched a number of drones. This comes after Iran launched an unprecedented air attack against Israel last week. Growing tensions in the Middle East now threatening to push the region into wider conflict.

- And we're also watching commodities this morning, oil prices initially trading higher with Brent Crude futures topping $90 a barrel, but now prices are retreating after investors have had more time to digest Israel's retaliatory attack on Iran. Spot gold prices also surging to fresh all time highs on ongoing Middle East tensions.

- And Netflix reporting first quarter earnings that beat Wall Street expectations. The streaming giant added more than 9 million subscribers in the first quarter, proving that its password sharing crackdown is paying off. But investors were surprised to hear that Netflix would stop reporting quarterly membership starting next year. That coupled with the company's disappointing second quarter and full year revenue guidance, dragging the stock more than 6% lower in premarket trading this morning.