Stock market today: S&P 500 heads for record, longest weekly win streak as Netflix powers strong earnings

US stocks were poised to notch the longest weekly win streak as Netflix delivered powerful earnings and set the stage for Big Tech's corporate results in the coming days. The tech-heavy Nasdaq Composite moved up 0.8%, while the S&P 500 added about 0.5% and was poised to set an all-time high. The Dow Jones Industrial Average rose 0.2% after hitting a fresh record closing high.

Netflix's results late Thursday relieved some worries that Big Tech names might struggle in the third quarter as they did in the last. The streaming giant's profit surged to outstrip Wall Street estimates, while revenue and subscriber growth also came in stronger than expected. Its shares jumped around 10% in afternoon trading. At the same time, a rebound in Chinese stock markets propelled gains in US-listed shares of Alibaba , JD.com, and PDD .

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Stock rally loses steam as S&P 500, Dow slip from recordsNow that the Fed has started cutting rates, the economy has taken to the fore for investors.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Dow, S&P 500, Nasdaq jump as TSMC outlook prompts chip stock rallyA monthly report on retail sales could provide clues to whether the Fed will go for 'no cut' at its next meeting.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500 clinches fresh record amid GDP data, chip stock gainsA double dose of optimism for the AI trade and for China's stimulus push is buoying the market ahead of Jerome Powell's comments.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Nasdaq, S&P 500 step higher as Netflix jumps after earnings beatThe major gauges are on track for a sixth weekly win in a row after a strong start to earnings season.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Nasdaq, S&P 500 futures step higher as Netflix jumps after earnings beatThe major gauges are on track for a sixth weekly win in a row after a strong start to earnings season.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Dow and S&P 500 notch record highs as earnings season kicks offThe Dow and S&P 500 soar to new highs as banks kick off earnings season
Source: YahooFinanceCA - 🏆 47. / 63 Read more »