European Shares Seen Broadly Lower As Netflix Q2 Outlook Misses Views

Netflix shares fell sharply after the U.S. closing bell as the streaming giant beat profit estimates for the first quarter but missed with its outlook for Q2.

U.S. equity futures were mixed after Wall Street’s main indexes closed at a record high for a second consecutive day on hopes of more U.S.-Iran talks to extend the two-week ceasefire that is expiring next week.

Israel and Lebanon have agreed to a 10-day ceasefire, fueling optimism on the prospect of a long-term peace deal in the Middle East.

U.S. President Donald Trump has expressed optimism about securing a permanent ceasefire with Iran, claiming that Tehran had agreed to hand over its enriched uranium, provide “free oil” and reopen the Strait of Hormuz, adding he might go to Pakistan if a deal is reached.

Iran’s state-owned broadcaster IRIB claimed the U.S. leader was “building castles in the air.”

IMF Executive Director Fatih Birol has warned that Europe has about six weeks of jet fuel left and restoring a meaningful portion of disrupted oil and gas output could take up to two years.

Asian markets were broadly lower, snapping a three-day rally amid high levels of investor fatigue related to the war in the Gulf region.

The dollar headed for its second weekly loss, reflecting improving appetite for riskier assets. Gold was a tad higher above $4,800 on ounce, while Treasuries were little changed.

Global crude benchmark Brent slipped more than 1 percent toward $98 a barrel on hopes for a U.S.-Iran peace deal.

Overnight, U.S. stocks eked out modest gains after reports emerged that the U.S. and Iran may extend the ceasefire by two weeks in order to allow more time for talks.

Uncertainty around the Iran war and rising oil prices capped the upside as defense secretary Pete Hegseth criticized media coverage of the war on Iran and warned Iran of restarting devastating military strikes against Tehran’s critical infrastructure, if the two nations fail to reach a peace agreement.

In economic news, new applications for employment benefits fell more than expected last week, but manufacturing unexpectedly lost momentum in March after two straight months of solid gains, separate reports showed.

The tech-heavy Nasdaq Composite and the S&P 500 gained 0.4 percent and 0.3 percent, respectively to reach new record closing highs as Trump announced a 10-day ceasefire between Israel and Lebanon. The narrower Dow edged up by 0.2 percent.

European stocks ended mixed on Thursday as traders weighed progress toward a potential resolution to the Iran war.

The pan-European STOXX 600 finished marginally lower. While France’s CAC 40 slid 0.1 percent, the German DAX rose 0.4 percent and the U.K.’s FTSE 100 added 0.3 percent.

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