Stock market today: Netflix and tech stocks climb, but Wall Street ends with indexes mixed
Wall Street ended mixed after strong gains for Netflix and some influential technology stocks helped offset losses across much of the U.S. stock market
NEW YORK — Wall Street was mixed Wednesday after strong gains for Netflix and some influential technology stocks helped offset losses across much of the U.S. stock market.
The S&P 500 added 3.95 points, or 0.1%, to 4,868.55 and set a record for a fourth straight day. The strength for tech stocks had the Nasdaq composite leading the market with a gain of 55.97, or 0.4%, to 15,481.92. The Dow Jones Industrial Average fell 99.06, or 0.3%, to 37,806.39.
Earlier in the day, stocks climbed elsewhere around the world after Chinese authorities announced measures to boost what’s been a disappointingly weak recovery for the world’s second-largest economy. Hong Kong's Hang Seng index jumped 3.6% to trim its loss for the month to date to less than 7%.
On Wall Street, Netflix leaped 10.7% after it said it added many more subscribers during the last three months of 2023 than analysts expected. That took precedence for investors over the company’s profit, which fell short of analysts’ forecasts.
Also helping to bolster tech stocks was ASML, the Dutch company that’s a major supplier to the semiconductor industry. It reported stronger profit and revenue than analysts expected, and its U.S.-listed stock jumped 8.9%.
Microsoft climbed 0.9% amid a furor around artificial-intelligence technology that's vaulted it and other Big Tech stocks higher. Because it’s one of the largest stocks on Wall Street, its movements carry more weight on the S&P 500 and other indexes than smaller stocks.
It helped overshadow drops for the majority of stocks within the S&P 500, including a 3% fall for AT&T,
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