Powell's speech, Netflix, Tesla earnings - what's moving markets
Investing.com -- Fed chair Jerome Powell is set to speak later in the session, while Wall Street indices are set to open lower after bond yields rose to record levels.The earnings season continues in full flow, with Netflix and Tesla in the spotlight after releasing results after Wednesday's close.
Investors have started to become fearful of the possibility of another rate increase in December to round out the year, and all eyes will be on Federal Reserve Chair Jerome Powell as he speaks later in the session .The company said paid subscribers rose 8.76 million in the third quarter, boosted by its efforts to restrict sharing of accounts, well above expectations for just over 6 million.
Netflix also increased subscription prices for some of its streaming plans as it posted revenue of $8.54 billion, in line with forecasts. Earnings came in at $3.73 per share, ahead of Wall Street's expectation of $3.49.Gross margins excluding credits, which have been closely watched following recent price EV cuts, slowed to 16.1% in the third quarter from 18.7% in the previous quarter.
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