US stock futures are higher; Netflix posted strong Q4 gains, according to Investing.com

Investing.com- U.S. stock index futures rose on Wednesday, boosted by strong results from Netflix and as investors evaluated President Donald Trump’s trade policies.

At 05:20 ET (10:20 GMT), it had gained 50 points, or 0.1%, was up 24 points, or 0.4%, and was up 165 points, or 0.8%.

Major Wall Street indexes posted strong gains on Tuesday, the first full trading day of the new Trump administration.

Although Even though he told reporters on February 1st that he was considering imposing tariffs on Mexico and Canada, Trump’s move to avoid tariffs on imports was somewhat boosted by Trump’s one-day move. He was also discussing China, Trump said.

Netflix rises on strong Q4 results.

Positive sentiment continued Wednesday in Netflix (NASDAQ:) shares after it reported a record-breaking 19 million new subscriber additions in the fourth quarter of 2024.

Subscription growth is fueled by blockbuster content releases, including critically acclaimed new seasons and original movies, as well as regionally tailored programming that appeals to diverse global audiences.

Revenue for the quarter rose to $9.5 billion, up 8 percent year-over-year, while net income came in at $915 million, up 12 percent.

Netflix also announced plans to raise prices for most subscription tiers in the US, Canada, Portugal and Argentina, citing investments in programming.

The zeal on Stargate

In other news, President Trump unveiled Stargate, a $500 billion joint venture involving OpenAI, Oracle (NYSE: ), SoftBank (TYO: ), Microsoft (NASDAQ: ), Nvidia (NASDAQ: ), and other technology leaders.

The partnership aims to build large-scale AI data centers and power generation facilities in Texas over the next four years, which will significantly strengthen the state’s AI capabilities.

In corporate news, GE Vernova (NYSE: ), its energy division from General Electric (NYSE: ), is set to report quarterly earnings later in the session, while numbers are expected from Johnson & Johnson (NYSE: ) and Procter & Gamble (NYSE: ).

Additionally, United Airlines (NASDAQ: ) gained more than 4% premarket.

Raw resumes

Oil prices rose on Wednesday after earlier losses after President Trump declared a national emergency to boost energy production.

U.S. crude futures (WTI) were up 0.6% at $76.28 a barrel at 05:25 ET, while Brent futures were up 0.6% at $79.78 a barrel.

The benchmarks retreated on Tuesday after Trump withdrew his plans to boost oil and gas production, including declaring a national energy emergency and withdrawing the US from the Paris climate accord.

(Ayushmann Ojha contributed to this article.)