Wall Street soared on the boost from the Nasdaq and posted its third straight week of gains

Wall Street soared on the boost from the Nasdaq and posted its third straight week of gains

Google and Netflix boosted the Nasdaq

The nasdaq It rose strongly supported by the good results of Netflix and the optimism with which the plan to cut jobs at Google was received. It is worth mentioning that Google’s parent company, the Alphabet company, announced a global plan to cut 12,000 jobs, following a trend of other technology giants to carry out a large-scale restructuring. That optimistic trend is maintained for these hours.

Netflix, for its part, kicked off earnings season for growth stocks on an upbeat note with its shares jumping 8% as the streaming company added more subscribers than expected in the fourth quarter and said the co-founder Reed Hastings would step down as CEO.

Netflix’s quarterly update comes at a time when the technology sector faces bleak prospects due to rising interest rates and economic concerns, which have forced companies including Microsoft Corp and Amazon.com Inc to lay off thousands of employees. Alphabet Inc was the last to join the list and its shares rose 5.7%.

“Investors are beginning to view technology as a deadly defeated sector, but quality and fundamentals remain,” said Sylvia Jablonski, chief investment officer at Defiance ETF.

Meanwhile, the Dow Joneswhich had started slightly in the green, then dropped a few points, but finally recovered its upward trend in a context in which a moderation of the policy of raising rates in the central countries of the world is expected, but the market is still taking “with tweezers” that possibility.

Source: Ambito

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