The stocks of companies in the streaming video business enjoyed a broad rally Thursday, as upbeat results from Roku Inc. and a big jump in the broader stock market emboldened investors.
And Netflix Inc.’s stock NFLX, +1.16% traded 1.1% higher toward a seven-week high. The streaming giant’s shares have tacked on 6.7% amid a four-day win streak. The streaming sector had endured a rough couple of months, as stubborn inflation, higher interest rates and worries about a slowing economy prompted consumers to cut back on spending. But an indication that interest rates may have peaked helped fuel buying in beaten-down stocks.
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