Netflix, the behemoth of streaming services, continued its dominance on Friday when its stock suffered a hefty drop of over 1%. Despite this setback, the platform celebrated yet another milestone as it broadcasted two NFL games on Christmas day. The Kansas City Chiefs’ triumph over the Pittsburgh Steelers garnered an impressive 24.1 million viewers, while the Baltimore Ravens’ victory over the Houston Texans drew approximately 24.3 million viewers. Notably, the majority of these viewers accessed content through Netflix itself, underscoring its integral role in global media consumption trends.
The stock market reaction to Netflix’s performance was mixed; on Thursday, it had lost 0.9%, setting a premarket close of $924.14. The Nasdaq listed entity, represented by the ticker symbol NFLX, closed at $837.69 following Friday’s trading session. This decline, though significant, appears to have piqued investor interest ahead of the upcoming year, with analysts noting that the stock was currently trading around a 97% year-to-date gain.
Looking into the broader market landscape, Bitcoin (BTC-USD) demonstrated resilience against its recent dip on Thursday. The cryptocurrency’s price rose by 1.4% during Friday’s trading hours, reaching $96,700—a level that restored investor confidence following a slight decline over Christmas week. Bitcoin has been characterized by volatility in the past month, with highs nearing $106,000 as markets anticipate the incoming pro-crypto sentiments from President-elect Donald Trump.
During the election cycle, Trump’s administration has shown increasing alignment with the crypto industry. Key initiatives include the establishment of a U.S. national Bitcoin reserve and the potential ousting of Gary Gensler, the outgoing chair of the SEC, in favor of Paul Atkins, CEO of Patomak Partners—a former SEC commissioner known for his crypto-friendly stance. Additionally, Trump has appointed David Sacks, a former PayPal executive, as the first cryptocurrency czar, signaling a push towards regulatory clarity and market growth.
In other financial news, U.K. retailers like Next (NXT.L) faced challenges following data revealing a significant drop in Boxing Day footfall across the sector. With 2,124 UK retailers identified as being in ‘critical financial distress’ during the first 11 weeks of the fourth quarter, an increase of approximately 25% year-on-year, the retail landscape exhibited worrying signs of stagnation.
Meanwhile, the competitive regulator in Taiwan, the Competition Commission, has blocked the sale of Foodpanda to Uber (UBER). This decision marks a notable exit from the food delivery sector in Asia, as the sale was valued at $950 million, surpassing the company’s revenues outside the semiconductor industry. This move reflects a potential shift in market dynamics and regulatory influences shaping global tech landscapes.
Looking ahead, the impact of these developments on broader market trends will be closely monitored, particularly as U.S. trade policies evolve under Trump’s administration. The ongoing regulatory environment in sectors such as finance and technology continues to exert pressure on market participants, underscoring the need for adaptive strategies in navigating volatile market conditions.
