20 July 2022 - Netflix Signaling a Bottom? | ANZ Acquires Suncorp Global markets were up overnight, as US markets (S&P 500 Index +2.8%) surged as traders anticipate weak earnings have been priced in and bet that the market could have bottomed. With the potential for earnings disappointments baked into markets, any upside surprises may lead to outsized gains. Tech stocks led gains with the NASDAQ Index up +3.1%, with all sectors trading strongly. Johnson & Johnson (-1.5%) and IBM (-5.2%) both beat earnings expectations but the market focused on the firm’s downgrades to earnings and cash flow projections for this year, due to the stronger USD detracting from foreign earnings. However, shares in Netflix were up 5% and jumped another 8% after hours as short sellers felt the squeeze and the technology stocks that had been shorted the most jumped. Netflix's after hours result confirmed they had "only" lost 900k subscribers'...