New records on Wall Street – Netflix drives ahead

» Published: October 18 2024

New records on Wall Street – Netflix drives ahead
Photo: Peter Morgan/AP/TT

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The trading week on Wall Street ended on Friday with new index records. Netflix acted as a locomotive and surged 11 percent.

The Dow Jones industrial index closed up 0.1 percent, the S&P 500 index rose 0.4 percent, and the Nasdaq composite index went up 0.6 percent. Friday's figures mark new record levels for the two former and mean that the New York Stock Exchange has risen for six weeks in a row.

Streaming giant Netflix published its report for the third quarter just after the close on Thursday.

That the company exceeded market expectations – the number of subscribers increased by 35 percent compared to three months earlier – was clearly visible during Friday's trading and at the close, the share had surged 11 percent. Over the past year, the company's share has now risen by 120 percent.

At the other end, pharmacy chain CVS fell by over 5 percent. This followed the news that the company's CEO will be leaving.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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