Netflix Looks to Conquer Asian Market; Stock Rally Fades on JOLTS

Netflix (NFLX) moved higher in midday trading Wednesday on reports it would continue to infiltrate the Asian market. The streaming service is reportedly looking to offer service in South Korea, Hong Kong, Singapore and Taiwan at the beginning of next year. The company began operations in Japan last month. An earlier rally faded by the middle of the session as fears the Federal Reserve would raise rates sooner than later flared up anew. Benchmark indexes had surged nearly 1% earlier this morning. The latest JOLTS data showed job openings at a new record in July since tracking began in 2000. The reading is another sign of significant tightening in the labor market, one of the Fed's key measures on the economy.