Netflix, tech rally lift Wall Street as investors shrug off weak bank results [Reuters]
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Source: Reuters
Netflix, tech rally lift Wall Street as investors shrug off weak bank results | Reuters 4 Min Read (Reuters) - U.S. stocks rose on Tuesday as Netflix spurred a rally in technology and internet stocks and UnitedHealth posted strong results, while hopes of more stimulus for China’s slowing economy encouraged buying in risky assets. Netflix Inc ( NFLX.O ) shares jumped 7 percent after the video streaming pioneer said it was raising prices for its U.S. subscribers. Other high-profile stocks such as Microsoft Corp ( MSFT.O ), Amazon.com Inc ( AMZN.O ) and Apple Inc ( AAPL.O ) rose following the announcement. The communication services sector .SPLRCL, which includes Netflix and Facebook, rose 1.64 percent, while technology stocks .SPLRCT jumped 1.53 percent. “Investors are expecting earnings to be lower in 2019. However, a lot of the company reports that we read are still pretty positive. They are looking to hire, invest in businesses, looking to raise prices,” said Matthew Watson,
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