US pre-open: Futures mixed as Netflix weighs heavily on Nasdaq

Wall Street futures were mixed ahead of the bell on Wednesday, with tanking Netflix shares weighing on the Nasdaq Composite.

As of 1245 BST, Dow Jones futures were up 0.05%, while S&P 500 futures were 0.01% firmer at Nasdaq-100 futures had the index opening 0.19% weaker.

The Dow closed 256.33 points lower on Tuesday amid more earnings reports from some of the nation's largest firms.

Netflix shares slumped around 8% in pre-market trading after the video streaming giant posted quarterly subscriber additions that fell well and truly short of estimates on the Street as the pandemic-fuelled demand seemingly began to fade away.

Still to come on the corporate front, both Verizon and Chipotle will report their most recent quarterly numbers throughout the course of the day.

On the macro front, total mortgage applications surged 8.6% week-on-week, according to the Mortgage Bankers Association, marking the first overall increase in weekly applications since the tail end of February.

The increase was mostly driven by a drop in the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances to 3.20% from 3.27%.