Wall Street indices closed the last session of the week in green, With technology companies once again leading the gains, driven by higher-than-expected results from Netflix.
The Standard & Poor's 500 Index rose 0.40% to 5,864.67 points, while the Dow Jones Industrial Average rose 0.09% to 43,275.91 points. Renew both closing records. The Nasdaq index, the benchmark index for the technology sector, accelerated by 0.63% to 18,489.55 points. All indexes posted their sixth straight week of gains — the longest positive streak this year for the Dow Jones and S&P.
Among the most notable events witnessed during the session was Netflix's stock, which rose by 11.1%.. The North American streaming company reported third-quarter results at the end of Thursday, which beat market expectations, with revenue rising 15% to $9.825 million and subscribers reaching 282.72 million.
Netflix's earnings boosted shares of major technology companies. In the “Greater Seven” group, Nvidia shares rose 0.78%. While Apple shares rose by 1.23% after the acceleration of new iPhone sales in China.
On the other hand, American Express shares lost 3.15% after announcing the company's quarterly revenues. Which recorded values lower than market expectations, prompting the company to lower its guidance.
Expectations for technology results continue to boost indicators, with the “Gig Seven” expected to reveal an 18% increase in third-quarter profits, according to data from Bloomberg Intelligence. Next week, the numbers of Microsoft, Alphabet (which owns Google), Tesla, Apple, and Amazon will be known.
“Earnings season is in full swing, and despite some mixed signals, it looks good.”Liz Young Thomas, director of investment strategy at SoFi, said, citing Bloomberg.
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