Futures Near Record Highs; Netflix Soars

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U.S. stock futures neared record highs on Wednesday, as Joe Biden prepared to take charge as U.S. President at his inauguration, while Netflix soared after saying it will no longer need to borrow billions of dollars to finance its TV shows and movies.

Shares of the worlds largest streaming service surged 13 in premarket trading, helping boost futures tracking the broader techheavy Nasdaq 100 index.

Wall Streets main indexes ended higher on Tuesday after Treasury Secretary nominee Janet Yellen urged lawmakers to act big to save the coronavirusravaged U.S. economy and worry about debt later.

Biden, due to take over as the 46th President of the United States just after noon 1700 GMT on Wednesday, will waste little time trying to turn the page on the Trump era, advisers said, signing a raft of 15 executive actions on issues ranging from the pandemic to the economy to climate change.

At 0659 a.m. ET, Dow Eminis were up 33 points, or 0.11 and SP 500 Eminis were up 12.5 points, or 0.33. Nasdaq 100 Eminis were up 104.5 points, or 0.8.

Morgan Stanley climbed 1.7 ahead of its results that would wrap up earnings from major U.S. lenders.

UnitedHealth Group Inc slid 0.3 after the health insurers quarterly profit slumped nearly 38, weighed by costs related to its programs to make COVID19 testing and treatment more accessible for its customers.

SP 500 company earnings are expected to rise by 24 in 2021 after falling 15 in 2020, according to Refinitiv data. With stock market…

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