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S&P 500, Nasdaq buoyed by tech stocks; Netflix soars after results

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S&P 500, Nasdaq buoyed by tech stocks; Netflix soars after results

Shares of Netflix jumped 10.2% to a record high after the streaming giant topped Wall Street estimates for subscriber additions and said it expected continued growth through the end of the year.Netflix's gains lifted the Communication Services sector 1%, while Information Technology rose 0.4%

"We had good earnings out of Netflix this morning, some good housing data and sentiment in general has been quite well," said Dustin Thackeray, chief investment officer, Crewe Advisors. Expectations for the U.S. Federal Reserve to ease interest rates by 25 basis points at its November meeting stood intact, at about 90%, according to CME's FedWatch.

 

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