What's Going On With Netflix Shares

Netflix Inc NFLX shares are trading higher by 2.49% to $434.52 during Tuesday's session. The stock may be trading higher in sympathy with the broader market following a softer-than-expected CPI report, which showed slowing inflation in May.

A lower CPI suggests that inflationary pressures on consumer prices are relatively subdued. This can enhance consumers' purchasing power and affordability, making it more feasible for individuals to allocate funds towards streaming services like Netflix.

As the cost of living remains stable, consumers may be more willing to subscribe to or retain their Netflix memberships.

What Happened With Inflation Data?

In May, inflation exhibited a greater deceleration than anticipated, leading investors to grow more optimistic about the potential conclusion of Federal Reserve rate increases.

According to data released by the Bureau of Labor Statistics on Tuesday, the U.S. consumer price index (CPI) recorded a 4% year-on-year increase in May, compared to 4.9% in April.

This figure slightly undershot the average economist expectation of 4.1% and represents the lowest inflation reading since March 2021...Read More

According to data from Benzinga Pro, NFLX has a 52-week high of $436.34 and a 52-week low of $164.28.