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Reuters
Record spike for US stocks amid Netflix surge and Biden inauguration
US stocks closed at record highs with the inauguration of Joe Biden as President of the United States, while strong results from “Netflix” sparked the rise of companies benefiting from household engagement .
Netflix, the world’s largest online entertainment streaming service, rose after the company said it no longer needed to borrow billions of dollars to finance the production of its television series and his movies.
“It’s a day of outperformance for tech companies, which is rare over the past two to three months,” said Roy Mayfield, investment strategy analyst at Bird in Milwaukee, Wisconsin.
Based on unofficial data, the Dow Jones Industrial Average rose 257.86 points, or 0.83%, to reach 31,188.38 points.
The Standard & Poor’s 500 Index rose 52.94 points, or 1.39%, to 3,851.85 points, and the Nasdaq Composite Index advanced 260.07 points, or 1.97%, to 13,457.25 points.
Source: Reuters
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