(Bloomberg) -- Good morning. Here's what to watch ahead of the market open in Europe, including results from U.S. streaming giant Netflix, the latest reports on U.S.-China trade talks, and Deutsche Bank's forecast for fourth-quarter earnings in Europe.
Don't Look
Netflix Inc. investors may have been reaching for their blindfolds last night as the Bird Box distributor's weak revenue forecast overshadowed better-than-expected subscriber gains. But while the stock slipped about 4 percent in after-hours trading in New York, futures on the tech-heavy Nasdaq index are higher this morning.
Easing Optimism
Asian stocks got a lift from a Wall Street Journal report saying U.S. Treasury Secretary Steven Mnuchin proposed easing tariffs against China, although that reporting was denied by a department spokesperson. Less positive was news that President Donald Trump had canceled the U.S. delegation's trip to next week's economic forum in Davos.
Sluggish
Today's European earnings schedule is relatively quiet, before releases start properly flowing next week. Expectations for fourth-quarter results are somewhat low: Deutsche Bank analysis shows profit growth is seen slowing to 3 percent year-on-year, down from 8 percent in the third quarter, before picking up again in the first quarter of this year, analyst Tom Pearce wrote in a note published Thursday.
The Month That Was
U.K. retail sales data for the key festive month of December will come at 9:30 a.m. London time. Trading updates released so far have spurred big share price gains for high street bellwethers like Next Plc and Marks & Spencer Group Plc, while others, such as auto and cycling part store chain Halfords Group Plc, have stumbled.
Her Name is Rio
Rio Tinto Ltd.'s quarterly results statement showed no sign of the mining giant bracing for slower growth in China. The London- and Sydney-listed company plans to raise shipments from Australia by as much as 3.5 percent this year and press ahead with projects to sustain output, it said in a statement. Peers could get a lift this morning.
To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net
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