On Wednesday, stocks increased as Netflix spearheaded a larger rise among technology companies, propelling the market as a whole to record highs.
The technology-focused Nasdaq Composite saw a 1.2% gain. In order to set a new closing record, the S&P 500 increased by 0.7%. A 0.3% increase, or 120 points, was seen in the Dow Jones Industrial Average.
As the streaming service announced that it had reached an all-time high of 260.8 million subscribers, its stock price spiked by 12%. Both revenue and the outlook for current-quarter profitability exceeded analysts’ expectations.
Source (CNBC)
