Mid-session market on 10/19: Netflix jumps after earnings, bond yields put pressure on the market

Netflix surges after yesterday afternoon's financial report beating expectations, bringing back optimistic sentiment to tech and consumer sectors at the start of this morning's session. Energy also rises again with news that the US government will buy oil in 2023 to maintain reserves.

SPY opens in green after pushing to touch 375 in the morning before hitting resistance and starting to reverse just like yesterday, showing a clear buyer-exhaustion state as shorts-cover rally starts running out of fuel and buyers in general haven't appeared with enough cash flow to continue pulling the market up. Bond yields in general also push higher with 10Y yield breaking 4.1% putting heavy pressure on corporate earnings expectations. Additionally, today (10/19) is the anniversary of Black Friday 1987 when the US stock market crashed over 20% in one day, creating a large amount of headlines and keywords affecting HFT during the day.