What’s going on here?

Netflix bragged about a record-breaking quarter.

What does this mean?

Netflix pulled in $10.2 billion in revenue last quarter, more than the $10.1 billion predicted. What’s more, the streamer upgraded its guidance for this year’s revenue as a whole, too. Netflix had a bumper few months, after all, reporting its biggest-ever quarterly uptick in subscribers – a result of rolling out talked-about content like the second season of Squid Game and major live sports events. So even though investors had already heaved Netflix’s shares up 83% last year, the stock’s best showing since 2015, they propped them up by another 10% initially after the news.

Why should I care?

Zooming in: Go sports!

Netflix might have made its name by nailing on-demand streaming content, but the company spent the last year securing contracts that let it broadcast live sports events – think boxing, wrestling, American football, and soccer. Beyond winning over subscribers with a penchant for foam fingers and match-day sliders, this focus could attract advertisers looking for live audience attention and sustained exposure over time (as opposed to binge-watching). Get those paying partners to spend more, and Netflix can keep revenue on the up without spending the time and money needed to win over new users. That’s one reason why the streaming giant plans to start skipping subscriber numbers in earnings reports, focusing on other money-making metrics instead.

The bigger picture: Netflix will cost you – and we’re not talking about that password-sharing crackdown.

Netflix now boasts a hunking market capitalization of around $400 billion – landing it spot number 21 in the ranking of the US’s biggest companies. But you’ll pay a price for that scale: the firm’s 37x price-to-earnings ratio marks it as an expensive stock. And bear in mind, despite its recent wins, it would take years of sustained success for the firm to catch up with the Magnificent Seven tech stocks – those worth over $1 trillion.

What’s going on here?

Quicker than he could unpack his toiletries in the White House bathroom, the new president threatened to start stamping tariffs of up to 25% on Mexican and Canadian imports.

What does this mean?

These higher taxes – which could start as soon as February 1st – are part of Donald Trump’s plan to come down hard on migration and drug trafficking into the US, with the president believing the move could persuade the two countries to strengthen their border controls. The Mexican peso and Canadian dollar both slipped slightly against the greenback after the news. But Chinese markets held steady, as Trump stayed mum about any new import taxes on goods from the world’s second-biggest economy.

Why should I care?

Zooming in: Prepare your pockets.

Higher tariffs typically lead to higher inflation: companies fold their increased taxes into product prices, meaning everyday customers cover some of the difference. Take vehicles as an example. Mexico and Canada export roughly $97 billion worth of car parts and four million finished vehicles to the US every year. With tariffs of this magnitude, Americans could see the average price of a new car increase by $3,000. And if these hikes do materialize and stoke inflation, the Federal Reserve might need to jack up interest rates again, potentially sending tremors through the economy and stock market. Don’t forget the possibility of retaliation from Canada and Mexico either, which could start a new trade war.

The bigger picture: Crypto didn’t make the cut.

Despite a room full of Silicon Valley billionaires to impress, the president’s inaugural address failed to address the topic of crypto. That looks to have disappointed traders of the digital currency, many of whom had been anticipating crypto-friendly policies since the election. After setting a record high over the weekend, bitcoin fell as much as 8% to $101,000 – although to its credit, it bounced back on Tuesday.