NASDAQ Hikes, Dow at Another Record
October 18,2024 10:36 am EST
The NASDAQ rose Friday, led by a post-earnings jump in Netflix, as Wall Street looked to close a record setting week.
The Dow Jones Industrial descended 143.63 points to 43,095.42.
The S&P 500 index advanced 11.55 to 5,853.02.
The NASDAQ Composite rumbled 121.05 points to 18,494.66.
For the week, the three major averages were headed for their sixth straight positive week. That would mark the longest weekly winning streaks in 2024 for both the Dow and S&P 500.
The S&P 500 and NASDAQ are up around 0.6% week to date, and the Dow has climbed 0.5%.
Netflix climbed 8% after the streaming giant beat Wall Street's expectations on both lines in the third quarter, while reporting a 35% jump in ad-tier memberships from the prior three-month period.
Procter & Gamble also reported better-than-expected earnings, while revenue fell short of estimates. Shares were down 0.8%.
So far, more than 70 S&P 500 companies have reported earnings. Of those, 75% have beaten expectations.
Friday's moves come after a rally in Travelers propelled the Dow to finish Thursday at an all-time closing high. The broad S&P 500 inched lower despite notching a fresh intraday high during the session, while the technology-heavy NASDAQ concluded modestly higher.
Prices for the 10-year Treasury gained a bit, lowering yields to 4.08% from Thursday's 4.10%. Treasury prices and yields move in opposite directions.
Oil prices lost $1.65 to $69.02 U.S. a barrel.
Gold prices added $24.90 to $2,732.40 U.S. an ounce
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