nasdaq closes at new record high netflix surges
Monday 3 March 2025
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Nasdaq closes at new record high, Netflix surges

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Nasdaq closes at new record high, Netflix surges

Nasdaq
New York - AFP

The Nasdaq vaulted to a new record high Thursday after a strong earnings report from Netflix helped spark a fairly broad rally led by technology stocks.

The tech-rich Nasdaq Composite Index powered up 64.24 points (1.26 percent) to 5,163.18, about three points above its prior record set on June 23.

The Dow Jones Industrial Average rose 70.08 (0.39 percent) to 18,120.25, while the broad-based S&P 500 gained 16.89 (0.80 percent) at 2,124.29.

Netflix surged 18.0 percent following an earnings report that was light on profits but heavy on growth. The video streaming service said subscriptions jumped 3.3 million in the second quarter, with the bulk of the increase outside the US. Earnings were $26 million, down from $71 million a year ago.

"It's a big believers story, the way Amazon is," said Mace Blicksilver. "On growth metrics, you must own it."

Blicksilver said the market was further lifted by a confluence of benign events: The passage of an austerity package by the Greek parliament that opens the way to a potential bailout; congressional testimony by Federal Reserve Chair Janet Yellen that was seen as dovish on interest rates; and the steadying of the Chinese stock market.

"It's hard to see what's to be bearish about at this very moment," he said.

Leading technology companies moved higher, including Apple (+1.3 percent), Facebook (+1.2 percent) and Google (+3.5 percent).

Another giant tech company, online retailer Amazon, bolted 3.1 percent higher after announcing that customers bought 34.4 million items on Wednesday when it offered special promotions to buyers of its "Prime" service, a $99 per-year package delivery program.

EBay surged 3.4 percent as it beat expectations on sales and earnings and confirmed the split off on Friday of subsidiary PayPal.

Citigroup jumped 3.8 percent after reporting second-quarter earnings of $1.51 per share, much above the $1.34 projected by Wall Street analysts.

Dow member Goldman Sachs fell 0.8 percent as its reported lower second-quarter earnings, dragged down by $1.45 billion in legal charges.

Other companies to report earnings included chipmaker Intel (+0.7 percent), tobacco giant Philip Morris International (+3.2 percent), paint company Sherwin-Williams (-7.4 percent) and health care giant UnitedHealth Group (-0.7 percent).

Bond prices rose. The yield on the 10-year US Treasury dipped to 2.35 percent from 2.36 percent on Wednesday, while the 30-year fell to 3.11 percent from 3.15 percent. Bond prices and yields move inversely.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

nasdaq closes at new record high netflix surges nasdaq closes at new record high netflix surges

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

nasdaq closes at new record high netflix surges nasdaq closes at new record high netflix surges

 



GMT 10:31 2014 Tuesday ,23 December

Mirages of failure: Lebanon cannot wait

GMT 05:17 2024 Wednesday ,07 February

Amazon to open first cashierless shop

GMT 06:15 2018 Tuesday ,23 January

Volkswagen clinches record sales

GMT 09:54 2018 Wednesday ,24 January

'Friendly and kind' N. Korean skaters

GMT 16:34 2017 Friday ,21 July

Scores of mercenaries killed in Shabwah

GMT 09:48 2017 Wednesday ,02 August

Top three yoga poses activity of the brain

GMT 18:21 2012 Tuesday ,28 February

You are not ugly, so don\'t make those videos

GMT 08:13 2017 Saturday ,27 May

Women for Afghan Women honours

GMT 03:28 2012 Thursday ,05 April

Would you eat your own placenta?

GMT 20:00 2017 Thursday ,29 June

Firefighters control Sharjah fire

GMT 03:48 2014 Thursday ,06 February

How to save a relationship

GMT 08:11 2017 Wednesday ,25 October

AGU discusses cooperation with Chinese Jinan University
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice