(22 January 2020)DAILY MARKET BRIEF 2: Pound gains into Friday’s PMI, stocks recover, euro falls despite strong ZEW

Mood in Asian markets was slightly better after Wall Street closed Tuesday’s session in negative. Healthcare stocks outperformed in New York on fears that the spreading coronavirus would increase demand in pharmaceuticals.

Netflix posted strong earnings in the fourth quarter thanks to a surprise 8.8 million jump in subscriptions versus 7.6 million promised to investors. But the company released a timid forecast on subscriber growth this quarter amid intensifying competition in the live streaming industry with the spectacular launch of Apple TV and Disney+ end of last year.

Japanese stocks (+0.67%) recovered a part of yesterday’s losses, Hang Seng rebounded 1.22%, ASX 200 added 0.94%, while Shanghai’s Composite (+0.33%) followed with timid gains.

The yen weakened past the 110 mark against the US dollar, as gold retreated to $1550 per oz on improved sentiment.

(22 January 2020)DAILY MARKET BRIEF 1:Netflix’s Earnings Beat Forecasts but U.S. Subscriber Growth Fell Short

Netflix’s growth driver continued to be its international user base in the last quarter of 2019, its latest quarterly report showed. The streaming company’s earnings, released on Tuesday evening, far exceeded Wall Street’s expectations, but slower-than-anticipated growth in the U.S. user base underscored fears about competition in the streaming market. Netflix stock (ticker: NFLX) fell about 1% in after-hours trading. As Netflix’s U.S. subscriber base has surpassed 60 million and as the domestic streaming market has become saturated, the company’s growth has decelerated. News that the domestic user base declined for the first time in years in the second quarter sent the stock plummeting. Conditions remained tough domestically in the fourth quarter. Netflix said it added 8.3 million net new international subscribers and 420,000 U.S. users, while Wall Street had been expecting 618,000 domestic and 7.2 million international additions. On Oct. 17, Netflix told investors to expect a total o