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

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

U.S. stock futures rose on Friday, with the technology sector leading the way, as investors welcomed Netflix's (NFLX) broader earnings beat in anticipation of its next earnings results.

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

Key equity indicators are all on track for a sixth straight weekly gain after major banks put in a strong performance to kick off earnings season.

Netflix's results late Thursday allayed some fears that Big Tech companies could struggle in the third quarter like they did last quarter. The streaming giant's profit soared, beating Wall Street estimates, while revenue and subscriber growth also came in stronger than expected. Its shares rose over 6% in premarket trading.

At the same time, a recovery on the Chinese stock markets caused price gains for the US-listed shares of Alibaba (BABA), JD.com, (JD) and PDD (PDD). The rally came amid renewed optimism about further stimulus to support the Chinese economy.

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

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