Wall Street Today | Netflix's gaming push is coming together

Futures fell for Japan and Australia, while Hong Kong contracts rose. U.S. futures were little changed. Investors rotated out of growth stocks as the benchmark 10-year U.S. yield briefly topped 1.5% -- a level not seen since June. The tech-heavy $NASDAQ 100 Index (.NDX.US)$ underperformed. The $S&P 500 Index (.SPX.US)$ dipped, though economically sensitive companies advanced -- like energy, financial and smaller firms.

The $iShares MSCI USA Momentum Factor ETF (MTUM.US)$, which tracks stocks that have outperformed in recent months, climbed for a fifth day, surpassing its August peak to hit a fresh high. Helping buttress the gain was $Tesla (TSLA.US)$, the fund's top holding that climbed 2.2% for its 14th gain in past 16 sessions. $JPMorgan (JPM.US)$, the No. 2, advanced 2.4% to a record.

$Netflix (NFLX.US)$ Co-Chief Executive Officer Ted Sarandos said he's thrilled with the company's efforts to expand into gaming, but timing of the plan remains foggy. The embrace of video games marks Netflix's first significant foray beyond TV shows and films

The move adds to what has been a busy year for IPOs on U.S. exchanges, particularly for consumer companies. Restaurant payments firm $Toast (TOST.US)$ and coffee chain $Dutch Bros (BROS.US)$ recently jumped in their trading debuts, while companies including Authentic Brands and $Allbirds (BIRD.US)$ are planning to go public.

Entertainment giant $Endeavor Group (EDR.US)$ has agreed to buy an online sports-betting business from game developer $Scientific Games (SGMS.US)$ for $1.2 billion in cash and stock, the latest deal to build on the booming U.S. sports-wagering industry.

The current global oil supply-demand deficit is larger than expected. $Goldman Sachs (GS.US)$, one of the most influential banks in commodity markets, said it expected the rally to continue and forecast Brent to hit $90 a barrel by the end of the year, up from a previous estimate of $80.