- Reuters / Kim Kyung Hoon
Here is what you need to know.
Netflix blew past subscriber growth targets in Q4, and the stock is soaring to record highs. The company gained 8.3 million subscribers globally, which made Q4 “the highest quarter in our history,” it said in its letter to shareholders.
Alaskans evacuate after 7.9-magnitude earthquake prompts widespread tsunami alert. Deep-sea buoys measured a spike in sea levels equivalent to a 10m wave, and people in coastal Alaska were warned to flee infland or to high ground.
Forget tax cuts – there’s another clear reason stocks look unstoppable. Credit Suisse says that if tax reform was causing equity strength, the best-performing areas would look different than they do now. The firm argues that good old-fashioned earnings growth and economic expansion are driving record gains.
Elon Musk’s pay at Tesla will now have nothing to do with making cars. The CEO will now be paid nothing unless he increases his company’s market capitalization and the shareholders do very well.
JPMorgan Chase is raising wages to as much as $18 an hour. The firm is giving pay raises to 22,000 US employees who work in its branches and customer service centers as part of a $20 billion investment
The City of London thinks Macron has it wrong on Brexit. A lobby group representing Britain’s financial services disputed Emmanuel Macron’s claim that the UK must choose between full membership of Europe’s single market and a Canada-style trade deal.
A South Korean regulator sold his crypto holdings 2 days before new rules were announced – and people are furious. According to the Yonhap news agency, Prime Minister Lee Nak-yon told his cabinet on Tuesday to create a new code of conduct in the wake of the incident.
Stock markets around the world are stronger. China’s Shanghai Composite (+1.29%) increased, while Germany’s DAX (+0.58%) rose. The S&P 500 is set to open down less than 0.1% near 2,834.75.
Earnings reports continue to be released. Johnson & Johnson, Procter & Gamble, and Verizon are set to report before the market open, while Texas Instruments and United Continental will release results after the market close.
US economic data reports are light. The Richmond Fed manufacturing index is due at 10 a.m. ET. The US 10-year yield is up 3 basis points at 2.67%.