More Upward Room for Dow, S&P | MENAFN.COM – MENAFN.COM

More Upward Room for Dow, S&P | MENAFN.COM – MENAFN.COM

(MENAFN- Baystreet. ca) More Upward Room for Dow, S&P Advertisment The Dow Jones Industrial Average jumped to a record on Wednesday as investor sentiment was boosted by better-than-expected earnings reports and a new record for bitcoin. The 30-stock index headed higher 152. 03 points to 35, 609. 34. The S&P 500 heightened 16. 56 points to 4, 536. 19, The NASDAQ Composite went against the tide, though, and lost 7. 41 points to 15, 121. 68. Netflix posted its hotly-anticipated third-quarter earnings report on Tuesday after the market closed, with the streaming giant adding 4. 4 million subscribers during the period. Wall Street analysts expected 3. 84 million additions. However, the shares, which are up 20% in the last three months, were down more than 2%. Deutsche Bank downgraded Netflix after the report, saying its stock valuation was hard to justify with revenue growth set to slow next year. The firm also said strong fourth quarter subscriber additions are already baked into the stock. United Airlines also posted quarterly results after the bell on Tuesday, with the company beating analyst expectations on the top and bottom line amid an ongoing rebound in travel demand. United shares retreated slightly Wednesday. Ford