Wall Street outlook centers on housing data, bank earnings and Netflix reaction

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Housing, banks & Netflix outlook

Highlights

Friday's housing starts data is expected at 1.31 million, up 11.3%, with homebuilder stocks rebounding but still below recent highs.
Regional banks Fifth Third and Regions Financial hit fresh highs after three-month gains of 20% and 16%, with the KRE ETF up 13%.
Netflix shares fell 8% after hours post-earnings, leaving the stock down 45% year-over-year, trading around $68 after peaking at $134.12.

Friday catalysts for trading

As reported by CNBC, traders are watching Friday morning housing starts data, with FactSet consensus pointing to 1.31 million, an increase of 11.3%. The release is due at 8:30 a.m. ET on “Squawk Box,” and comes as several homebuilder stocks post weekly gains while remaining below prior highs.

Hovnanian is up 7% this week but remains 16% below its September high. Toll Brothers is up 4.2% for the week and is down 7% from its February high, while PulteGroup and NVR are both up 3.4% this week, with Pulte 10% below its February peak and NVR down 22% from its September high.

KB Home is up 2.7% this week, though the stock is still 16% below its September high. Investors are also tracking Travelers, which is due to report earnings Friday morning, after its stock gained 13% over the past three months and pulled back 3.3% from a high reached last week.

Bank reports and Netflix in focus

Regional banks are another focal point for the session, with Fifth Third, Regions Financial and Truist Financial all due in the spotlight on “Squawk Box.” Fifth Third is up about 20% over three months and hit a new high on Thursday, while Regions Financial gained 16% in the same period and also reached a fresh high.

Truist Financial is up nearly 8% over three months, although it remains 5% below its February high. The State Street SPDR S&P Regional Banking ETF, KRE, also reached a new high during Thursday’s session and is up 13% over the last three months.

Netflix is expected to draw heavy trading volume on Friday after its Thursday afternoon earnings report. Second-quarter revenue and earnings are roughly in line with analyst estimates, but the shares are down 8% after hours, leaving the stock down 45% over one year, from as high as $134.12 in June 2025 to about $68 in extended trading Thursday night.

Our earlier article on Netflix’s upcoming Q2 earnings outlined investor focus areas such as the progress of its ad-supported tier, platform engagement trends, and any hints of renewed M&A interest amid ongoing industry consolidation. We also noted expectations for Q2 results and the stock’s year-over-year decline as competition intensifies and advertising becomes a bigger growth lever.

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