Wall Street surges to snap two-day losing streak, Dow crosses 34,000 again

4:15pm: Small caps enjoy big success The Dow gained 316 points, 0.9%, to close Tuesday at 34,137. The Nasdaq gained 164 points, 1.2%, to 13,950, and the S&P 500 ticked up 38 points, 0.9%, to 4,173. The small-cap focused Russell 2000 jumped 51 points, 2.4%, to 2,240. Netflix Inc (NASDAQ:NFLX) shares fell more than 7% to $508.90 after the company's reported subscriber additions missed Street expectations. 12:25pm: Cruise companies shares recover The Dow rebounded Wednesday morning after a flatish open to a gain of 209 points, 0.6%, to reach 34,031. The Nasdaq climbed 94 points, 0.7%, to 13,880, and the S&P 500 added 24 points, 0.6%, to 4,159. Reopening plays recovered after a dismal Tuesday. Norwegian Cruise Line Holdings Ltd (NYSE:NCLH) jumped more than 7% to $28.68, and Carnival Corporation & plc (NYSE:CCL) stock improved more than 4% to $26.82. 9:55am: Proactive North America headlines: Altamira Gold Corp (CVE:ALTA) (OTCPINK:EQTRF) (FRA:T6UP) set to begin IP survey at Mutum target after receiving environmental approval from Brazilian state authorities Energy Fuels Inc (NYSE:UUUU) (TSE:EFR) signs non-binding MOU to secure monazite sand supply from Hyperion's Titan Project Biocept Inc (NASDAQ:BIOC) (FRA:B003) launches its CNSide cerebrospinal fluid assay for early detection of metastatic brain cancer Phunware Inc (NASDAQ:PHUN) (FRA:2RJ) releases Data Software Development Kit for third-party mobile applications to reward consumers with PhunCoin Predictiv AI Inc (CVE:PAI) (OTCMKTS:INOTF) (FRA:71TA) says its ThermalPass scanners deployed at Iredell-Statesville Schools in North Carolina Empress Royalty Corp (CVE:EMPR) (OTCQB:EMPYF) completes C$2M purchase of 2.25% gold royalty on Manica project in Mozambique XPhyto Therapeutics Corp (CSE:XPHY) (OTCQB:XPHYF) FRA:4XT) takes 'critical' step towards commercial sales of Covid-ID Lab test in Germany 9.38am: Wall Street off to negative start The main indices on Wall Street started Wednesday’s session on a lower note as disappointing results from Netflix overnight weighed on tech stocks. In the first minutes of trading, the Dow Jones Industrial Average was down 0.08% at 33,794, while the S&P 500 dropped 0.16% to 4,128 and the Nasdaq fell 0.36% to 13,735. Netflix itself was also a heavy faller at the opening bell, down 7.9% at US$506.42 after missing its subscriber goals for the first quarter. Also looming in the background are the ever-present jitters over COVID-19 as investors continue to fret over the presence of new variants and rising cases in several countries. 8:00am: Wall Street set for mixed start Wall Street is set for a mixed open on Wednesday morning, with the Dow Jones Industrial Average and S&P 500 virtually flat with rises of just 19 points and 1.5 points respectively while the Nasdaq Composite is showing a 0.12% or 21 point fall. Tech shares are likely to come under pressure after Netflix Inc (NASDAQ:NFLX) issued disappointing results after the US markets closed. It reported just under 4mln new subscribers in the first quarter, compared to expectations of a 6mln rise. And estimates of 1mln new sign-ups in the second quarter was well below the previous forecast of 4.4mln and sharply down from 10mln for the same period last year. No surprise investors are not chilling, marking Netflix shares down 8.3% at US$503.97 in pre-market trading. Sophie Griffiths, market analyst at Oanda, said: "US futures are pointing to .. the tech-heavy Nasdaq underperforming its peers in the wake of Netflix's results... "The first big-tech company to report, investors were looking at these numbers to set the scene for the coming week as other big companies announce their earnings. Weaker subscriber numbers and poor projected customer growth ahead points to a sharp deceleration in the stay-at-home trade, which boosted tech across 2020." Four things to watch for on Wednesday: Companies reporting results today will include energy group NextEra Energy Inc (NYSE:NEE), health insurance firm Anthem Inc (NYSE:ANTM), semiconductor specialist Lam Research Corp (NASDAQ:LRCX) and real estate investment firm Crown Castle International Corp (NYSE:CCI) Investors will be keeping an eye on UiPath, the automation software group, as it prepares to IPO on the New York Stock Exchange this morning which could see it achieve a market cap of US$28bn Cooking equipment group Middleby Corp (NASDAQ:MIDD) will also be in focus after it agreed to acquire rival Welbilt in a US$2.9bn deal There is little happening on the macro front, however, some investors may be interested in the latest US mortgage applications data