Wall Street on the Rise: S&P 500 and Nasdaq Hit Record Highs
n a weekly basis, the three indices posted solid performances. The Dow Jones led with a 0.96% gain, followed by the S&P 500 at 0.85%.
The tech sector received a boost from Netflix’s strong quarterly report, released yesterday, which triggered an over 11% jump in its stock price today.
All three major Wall Street indices closed Friday’s trading session in positive territory. The gains were driven by the tech sector, thanks to Netflix’s earnings beat, which sent its shares soaring more than 11%.
The Dow Jones Industrial Average, consisting of 30 major companies, rose 0.09% to 43,275.91 points. The S&P 500, which tracks 500 large-cap stocks, advanced 0.40% to 5,864.67 points, while the Nasdaq Composite climbed 0.63% to 18,489.55 points, with both setting new record highs.
Netflix’s impressive earnings report not only fueled its stock rally but also helped other members of the “Magnificent Seven” achieve gains, contributing to the Nasdaq’s milestone.
On a weekly basis, the three indices posted solid performances. The Dow Jones led with a 0.96% gain, followed by the S&P 500 at 0.85%, and the Nasdaq trailing slightly with a 0.80% increase.
So far, over 70 companies within the S&P 500 have reported their Q3 results, with 75% surpassing analysts’ expectations, according to FactSet. Next week, companies like Philip Morris, General Electric, Tesla, Coca-Cola, and Boeing are set to release their earnings.
In this context, bitcoin reached its highest level in over two months on Friday, driven by optimism surrounding Donald Trump’s potential election, as he positions himself as a supporter of cryptocurrencies.
By midday Friday (local time), the world’s leading digital currency by market circulation had risen 2.50% against the U.S. dollar, trading at $68,607. Earlier in the day, it touched $68,983—its highest point since late July.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals