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

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Nasdaq Composite,Big Tech,Win Streak

The major gauges are on track for a sixth weekly win in a row after a strong start to earnings season.

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 .

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