News

After the close, streaming giant Netflix announced it added 15m new subscribers for the first quarter, beating expectations with the boom in numbers starting in mid-March – as one of the very few businesses to benefit from the global covid-19 pandemic.

Energy stocks fell as West Texas Crude Oil futures expiring Tuesday plunged to a negative value for the first time ever, meaning that people are being paid to accept barrels of oil, while June prices fell 4% to US$20 a barrel.

As we mentioned last week, the spotlight will be on corporate profit announcements this week, with some big names reporting in the US, including Amazon and Netflix. 

In our Healthcare theme MET plays an important role. We are re-instating a buy rating @ $4.05 mark as this high quality stock is trading well below its NTA of $7.

The rally in big technology names has been huge, with the Nasdaq 100 index (100 biggest technology stocks in the US) now flat for the year. In contrast the Russell 2000 index (the next 2000 companies on Wall Street after the 500 largest) is still down -30