Brand New State Ok promo

Dow Rebounds

Stocks rose Wednesday after Netflix reported its subscriber count reached a new record in the fourth quarter.

The Dow Jones Industrials rallied 44.96 points to 37,950.41.

The S&P 500 index gained 25.57 points to 4,890.17.

The NASDAQ triumphed 142.98 points to 15,568.93.

Netflix shares surged more than 11%. The leg up came after the streamer said it added more than 13 million subscribers in the fourth quarter, bringing its total subscriber count to an all-time high of 260.8 million. Revenue topped analysts’ estimates, as did current-quarter earnings guidance.

The streaming giant’s gains build upon mega-cap tech’s strong gains in 2024, which have propelled the S&P 500 to record highs and confirmed a new bull market.

Beyond Netflix, AT&T slipped almost 2% on lower-than-expected earnings. Dupont De Nemours tumbled almost 12% after preannouncing weak fourth-quarter results and issuing disappointing first-quarter guidance.

Those moves come after the Dow pulled back during Tuesday’s main trading session as investors tracked disappointing earnings reports and guidance from several blue-chip companies. Still, the S&P 500 gained and Nasdaq Composite climbed, pushing the former to a fresh all-time closing record.

Earnings reports will remain a focus of traders on Tuesday, with Tesla, Las Vegas Sands and IBM due after the bell. Of the more than 16% of S&P 500 companies that have reported quarterly financials thus far in the earnings season, over 71% have surpassed Wall Street expectations, according to FactSet.

On the economic front, traders will be looking toward data on fourth quarter gross domestic product and the closely watched personal consumption expenditures price index expected later in the week.

Prices for the 10-year Treasury moved cautiously forward, dropping yields to 4.13% from Tuesday’s 4.14%. Treasury prices and yields move in opposite directions.

Oil prices regained 23 cents to $74.60 U.S. a barrel.

Gold prices dropped $1.80 to $2,024.00.



Source link

About The Author

Scroll to Top