Wall Street Surges: Netflix Shines While CVS Dims

Wall Street futures moved upwards, fueled by gains in technology stocks, notably Netflix, which outperformed subscriber growth expectations. Conversely, CVS Health stock fell after a leadership change. Overall, financial earnings boosted major indices, while cautious optimism surrounded Federal Reserve rate cuts and evolving Chinese market dynamics.

Wall Street experienced an upward shift as technology stocks led the charge, bolstered by Netflix's impressive subscriber growth that surpassed market expectations. The streaming service saw a premarket trading increase of 6.5% following its quarterly results, adding to the optimism in the tech sector.

The trend was evident across major tech stocks, with Apple jumping 1.5% thanks to increased iPhone sales in China and Nvidia climbing 0.9% after strong results from chipmaker TSMC. However, Tesla faced a slight dip following a U.S. safety probe into its self-driving software.

In contrast, CVS Health shares declined 11.3% following news of a new CEO appointment. Overall, positive financial earnings and stable economic data pushed the Dow and S&P 500 to record highs, with expectations high for the Federal Reserve's forthcoming rate adjustments.

(With inputs from agencies.)