The U.S. stocks have continued to run hot this week, with the run being highlighted by the performance of the S&P 500. The benchmark index closed at a new high on Friday for a sixth week of weekly gains, marking its longest streak of the year.
The S&P 500 jumped by 0.40% or 23.20 points to close at 5,864.67. It ended the week with a total gain of 0.85%, helped by streaming service Netflix, which saw its stock jump by more than 11% following better-than-expected third-quarter results.
The blue-chip Dow Jones Industrial also hit a fresh record of 43,275.91 after inching up 0.085% or 36.86 points, while the tech-heavy Nasdaq Composite recorded the biggest gain of major indexes on Friday, surging 0.63% or 115.94 for 18,489.55 points close.
Dow Jones and Nasdaq have gained 0.96% and 0.80% for the week, respectively, and are also on a six-week winning streak.
The stock market’s performance this week was helped by the robust earnings from major banks as well as Netflix. The rally is expected to continue next week when a number of major companies are set to release their quarterly reports. The list includes electric vehicle maker Tesla, hospitality giant Hilton, and airplane maker Boeing.