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Netflix Q3 beat expectations as shares climb: stream some shares?
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S&P and Dow Hit Record Closes on Netflix Results | Wall Street Today

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Moomoo Recap US joined discussion · Oct 18 16:52
S&P and Dow Hit Record Closes on Netflix Results | Wall Street Today
The three major indices closed the day higher on Friday, two in record territory for closes. The market closed positive for a sixth straight week, marking the longest string of weekly advances in 2024 for both the Dow and S&P 500.
The S&P 500 and the Dow Jones Industrial Average closed at record highs. The $S&P 500 Index (.SPX.US)$ rose 0.4% to 5,864.69 for the day, while the $Dow Jones Industrial Average (.DJI.US)$ traded up 0.1% to end at a record 43,275.91.
Meanwhile, the $NASDAQ (NASDAQ.US)$ closed 0.6% higher to 18,489.55, although that fell shy of a record.
MACRO
Gold soared above the historic threshold of $2,700-per-ounce amid ongoing continuing global economic and political uncertainties. $Gold Futures(DEC4) (GCmain.US)$ was last seen up 1% to $2,736.40 per ounce, topping the Sept 26 record close of $2,694.90.
Meanwhile, $Crude Oil Futures(JAN5) (CLmain.US)$ fell 1.77% to $68.85/barrel to close below $70 -- marking their worst weekly performance in nearly a year. Prices fell on reduced Middle East tension and fears of global demand falling due to Chinese economic weakness.
Also Friday, Atlanta Fed President Raphael Bostic expressed that he is not eager to reduce interest rates if inflation continues to exceed the Fed's 2% target. According to reports, the Atlanta Fed projects that rates will drop to a range of 3% to 3.5% by the end of 2025.
Meanwhile, government officials reported Friday that U.S. September housing starts declined by 0.5%, with multifamily construction down 9.4%, despite a 2.7% rise in single-family homes. Overall building permits fell 2.9%, as higher interest rates apparently continue to pressure demand, leaving builders with their largest home inventory in 16 years.
MOOVERS
Among stocks of interest Friday:
-- $Netflix (NFLX.US)$ was up more than 11% by market close Friday at $763.89, an all-time closing high. The stock's options volume jumped to the highest since at least April as shares climbed to a record after the global streaming giant reported earnings and revenue that surpassed analysts' estimates and added more subscribers than expected.
-- $Procter & Gamble Co (PG.CA)$ reported better-than-expected earnings Friday, but revenue fell short of analyst estimates. The stock closed at $171.28.
-- $CVS Health (CVS.US)$ announced its new CEO on Friday. The company issued preliminary Q3 earnings that missed Wall Street estimates. Shares were down 5.2% at market close.
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Word from the herd: Mooers, what are you watching?
Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See this link for more information.
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