Netflix, China stimulus hopes help boost Wall Street

16th January, 2019 09:38:13 printer

NEW YORK: US stocks forged higher on Tuesday as investors fostered hope of Chinese tax cuts and Netflix raised subscription rates, lifting the tech sector.

Equities dipped briefly in mid-afternoon trading after the British parliament massively rejected Prime Minister Theresa May’s Brexit plan, but stocks soon resumed their upward course, reports AFP.

The benchmark Dow Jones Industrial Average closed with a gain of 0.7 percent at 24,065.59 while the S&P 500 added 1.1 percent to settle at 2,610.30.

The tech-heavy Nasdaq rose 1.7 percent to 7,023.83, finishing above the 7,000 mark for the first time since mid-December.