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US stocks notched records and extended impressive streaks Friday as Netflix (NFLX) delivered powerful earnings and set the stage for Big Tech’s corporate results in the coming days.
The S&P 500 (^GSPC) added about 0.4% and recorded a fresh all-time high, as well as its sixth straight week of gains, the longest streak in 2024. The tech-heavy Nasdaq Composite (^IXIC) moved up 0.6%, leading gains. The Dow Jones Industrial Average (^DJI) rose 0.1% after hitting a new closing high the day before.
The major stock gauges logged weekly wins after a strong showing by big banks to kick off earnings season. The Dow grabbed the top of the weekly chart, adding 0.9%, followed by the S&P 500, which increased 0.8%, and the Nasdaq’s 0.7% gain.
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 11%.
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