Wall Street today: Tech shares boost Nasdaq, S&P 500; Netflix jumps 10% on Q3 results | Stock Market News

Wall Street stocks were mixed on Friday with the S&P 500 and the Nasdaq edging higher, lifted by technology shares, while the Dow Jones dropped.

The Dow Jones Industrial Average fell 108.85 points, or 0.25 per cent, to 43,132.38, the S&P 500 gained 12.41 points, or 0.21 per cent, to 5,853.88, and the Nasdaq Composite gained 109.60 points, or 0.58 per cent, to 18,480.79.

Netflix stock soared 9.8 per cent after the streaming giant reported stronger profit for the third quarter. It added more than 5 million subscribers in the quarter and posted a profit of $2.4 billion. Its revenue rose 15 per cent from a year earlier.

Apple stock gained 1.2 per cent after new iPhone sales rose in China.

Chip giant Nvidia stock added 1 per cent.

American Express stock fell 4.8 per cent despite reporting better quarterly profit. The company said that its revenue for the full year 2024 will likely come in at the lower end of the forecasted range it gave at the start of the year.

Intuitive Surgical stock jumped 6.8 per cent after reporting stronger profit for the September quarter than expected.

Shares of SLB and Procter & Gamble fell 2.4 per cent and 0.8 per cent, respectively, following their quarter results.

In the bond market, the yield on the 10-year Treasury fell to 4.06 per cent from 4.10 per cent late on Thursday.

Bullion

Gold prices crossed the $2,700 mark on Friday on expectations of further monetary policy easing.

Spot gold rose 0.6 per cent to $2,709.81 per ounce by 1145 GMT. US gold futures gained 0.7 per cent to $2,725.

Spot silver rose 1.2 per cent to $32.08.

Crude oil

Oil futures inched lower on Friday on concerns about demand from China’s slowing economy and easing supply risk from the Middle East conflict.

Brent crude futures inched 33 cents lower, or 0.44 per cent, to $74.12 a barrel by 1143 GMT, while US West Texas Intermediate crude was at $70.41 a barrel, down 26 cents, or 0.4 per cent.