Friday saw a rise in the Nasdaq Composite, driven by a surge in Netflix following its earnings, as Wall Street sought to end a week that set new records.
Although the S&P 500 gained 0.2%, the tech-heavy index increased by 0.6%. Losing 169 points, or 0.4%, the Dow Jones Industrial Average trailed behind.
In the third quarter, Netflix exceeded Wall Street’s forecasts on all fronts and reported a 35% increase in ad-tier memberships compared to the previous three months, which caused the streaming behemoth to rise 11%.
To date, almost 70 businesses in the S&P 500 have released their earnings. FactSet says 75% of those have exceeded expectations.
Source (CNBC)
