Investors are betting on a strong reporting season in the US

Netflix stock fell more than 23% on the report in the last trading session. The report of a decline in subscribers in the first quarter fell short of analysts’ expectations. The streaming service Netflix lost 200,000 subscribers due to inflation and competition in the market. The service lost another 700,000 subscribers after it exited the Russian market. At the same time, analysts predicted an increase of 2.5 million people.

Tesla investors will be looking forward today to see if the electric car company will keep its ambitious 2022 delivery targets, as operations at its largest plant in Shanghai are limited due to the COVID-19 outbreak in the region and new plants are slow to ramp up capacity. But it should be noted that Kathy Wood’s Ark Invest fund predicts Tesla stock will more than quadruple to $4600 by 2026 as mass electrification of cars in the future.

The International Monetary Fund lowered its forecast for global growth by 3.6% in 2022 and 2023 from previous forecasts of 4.4% and 3.8%, respectively.

Oil prices rose about 1% on Wednesday, recouping some of their losses in the previous session because of concerns about energy demand after the International Monetary Fund (IMF) lowered its economic growth forecasts. The situation in the oil market is extremely uncertain now. On the one hand, the EU’s rejection of Russian oil may increase the already high deficit. On the other hand, the US and its partners are going to release strategic reserves in order to lower oil prices.

European automaker Stellantis N.V. will stop production at its plant in Kaluga. Also, the US General Motors is getting ready for its final exit from the Russian market: dealers have been notified that they will stop supplying cars and parts and the Russian office’s employees have been laid off.

Russians are being offered to buy Visa and MasterCard cards from a number of CIS countries on the Internet, as well as virtual cards from a US bank. It will be possible to pay for them abroad, replenish foreign services and withdraw currency in cash while traveling. The cards of Uzbekistan, Georgia, Serbia, and Kyrgyzstan are offered.

The founder of Tinkoff Bank (the parent company of TCS Group) Oleg Tinkov appealed to Western countries to be “more rational and humane” to help stop the war in Ukraine, where innocent people and soldiers were killed. The billionaire opposes the war in Ukraine. Tinkoff Bank declined to comment on Tinkov’s personal opinion, recalling that he is not a decision-maker in Tinkoff Group companies, has not been in Russia for a long time, and has been dealing with his health in recent years.

Asian stock markets traded yesterday without a single trend. Japan’s Nikkei 225 (JP225) increased by 0.69% yesterday, Hong Kong’s Hang Seng (HK50) fell by 2.28%, and Australia’s S&P/ASX 200 (AU200) jumped by 0.56%. China’s yuan hit its lowest level since October after the central bank promised support for the service sector and left the Loan Prime Rate unchanged. To the surprise of many analysts, China kept its benchmark lending rates for corporations and households unchanged, which runs counter to the global trend of tighter monetary policy. Japan recorded a trade deficit in March that was more than four times higher than market forecasts, as exports to China slowed sharply, and soaring energy prices increased the cost of imports, exacerbating economic problems caused by the war in Ukraine.