new York Strong numbers from Netflix put investors on Wall Street in a buying mood on Friday. The Dow Jones index of standard values closed one percent higher at 33,375 points. The tech-heavy Nasdaq advanced 2.7 percent to 11,140 points. The broad S&P 500 gained 1.9 percent to 3972 points.
Netflix was able to score with stronger-than-expected customer growth in the fourth quarter. The shares of the streaming service rose by 8.5 percent. “While Netflix has done really well and it’s very promising, it’s actually going to be one of the toughest earnings seasons for big tech,” said Sylvia Jablonski, investment professional at Defiance ETFs. Rising interest rates and a bleak economic outlook have forced companies like Microsoft and Amazon to lay off thousands of employees.
>> Read here: Markets are not yet reflecting falling profits
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