The New York Stock Exchange is expected to rise on Wednesday morning, buoyed by Netflix's good results, which should enable the S&P 500 index to set new records at the opening.

Half an hour before the start of trading, futures contracts on the main US indices were up between 0.4% and 0.7%, suggesting that the session could start in the green.

By announcing results well above consensus, Netflix reassured investors and prompted financial analysts to revise their estimates of the streaming video giant upwards.

The end of the year was huge for Netflix, with the fourth quarter bringing in 13.12 million new subscribers, its biggest gain since the pandemic," notes Josh Gilbert, market analyst for eToro.

After a few up-and-down years, Netflix came back strong in 2023, posting one of the highest growth rates in its history, thanks to solid content, a crackdown on password sharing and its new, cheaper advertising arm', adds the specialist.

'There's plenty of room for growth on the horizon, which is great news for investors', concludes the professional.

The stock was expected to rise by more than 10% following these results, having already climbed by 35% over the past 12 months.

These good results mean that market participants are optimistic about the performance of the major technology groups, whose publications are set to follow one another over the coming days and weeks.

While it's true that sellers are fretting about valuations in the technology sector, we think that estimates for 2024 and 2025 will be revised upwards with the wave of AI investment about to hit the market", warns Dan Ives, analyst at Wedbush Securities.

Tesla's and IBM's performances are expected after the market close tonight, ahead of Intel's tomorrow evening.

Apple, Alphabet and Microsoft will publish their quarterly accounts later next week.

The earnings season is currently in full swing, and according to the latest FactSet data, 62% of S&P 500 companies have exceeded expectations, compared with a ten-year average of 74%.

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