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WS: il rally non si ferma
October 21, 2024By AFP – Agence France Presse
October 18, 2024
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Wall Street stocks saw a mixed start Friday as investors digested more business earnings reports, although the tech-focused Nasdaq climbed on the back of a positive showing from streaming giant Netflix.
Around five minutes into trading, the Nasdaq Composite Index jumped 0.6 percent to 18,480.37.
But even though the broad-based S&P 500 also edged up 0.2 percent to 5,851.48, the Dow Jones Industrial Average lost 0.3 percent to 43,090.86.
Netflix reported Thursday that it added more than five million subscribers in the recently ended quarter, alongside a profit of $2.4 billion and revenue that rose 15 percent from a year earlier.
Early Friday, the company’s shares were up by 9.0 percent.
“Netflix obviously is dragging up the Nasdaq,” said Peter Cardillo of Spartan Capital.
But he noted that the Dow could have been weaker due to a drop in Procter & Gamble profits reported before the bell.
The producer of Tide detergent and Crest toothpaste saw its profits slide 12 percent from a year ago to $4.0 billion.
Its shares shed 1.3 percent in early trading.
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The Barron’s news department was not involved in the creation of the content above. This article was produced by AFP. For more information go to AFP.com.
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