(Reuters] – Netflix’s shares fell on Wednesday. The Nasdaq opened lower on Wednesday. But the Nasdaq and other indexes were expected to gain as investors focussed on earnings, clues about U.S. interest rate trends, and the outlook for future gains.

Netflix Inc. (NASDAQ:) fell 27.4% during premarket trading, and Disney was hurt. Roku Warner Bros Discovery (NASDAQ) and (NASDAQ) after the company blamed inflation and the Ukraine war on fierce competition, resulting in a subscriber loss that was the first since more than 10 years.

The IT industry giant did not make all the doom and gore. IBM (NYSE:) Corp rose 2.6% following its statement that it expects to reach the highest end of its revenue growth projections for 2022. This was despite the fact it had flagged a $300million revenue loss from its Russia business suspension.

The earnings season started better than anticipated and could offset the effects of the Ukraine conflict, rising energy prices and inflation worries.

Nearly 80% of 49 companies reporting earnings as of Tuesday’s close, according to data from Refinitiv. 66% of companies beat expectations.

For the second consecutive day, 10-year Treasury Inflation Protected Securities (TIPS), briefly surged into positive territory. Assets such as stocks are affected by the increase in TIPS yield. This is essentially the result of borrowing costs being stripped away from inflation. [US/]

Still, U.S. stocks managed to rally on Tuesday, ending up more than 1% as investors responded to positive earnings from companies like Johnson & Johnson (NYSE:) and dovish comments from two Federal Reserve officials on interest rate rises.

For more information on tightening the central bank’s monetary policies, investors will focus on the Fed’s Beige Book of Economic Conditions from February through April.

At 06:55 am. ET was up 61 point, or 0.1%.

After the close of markets, Tesla Inc (NASDAQ:) Inc lost 0.2% on its first quarter results. As its largest factory in Shanghai is affected by COVID-19 shut down and production ramps up slowly, investors will closely monitor whether Tesla can meet its 2022 delivery goal.

After ASML beats expectations, chip manufacturers Applied Materials (NASDAQ;) and Lam Research(NASDAQ:), shares rose by more than 1.5%. ASML’s U.S.-listed shares jumped 5.3%.