Jan. 15 (UPI) — The three major U.S. stock indexes rose for the first time in its past two sessions Tuesday after a tech rally led by strong gains from Netflix.
The Dow Jones Industrial Average was up 155.75 points, or 0.65 percent, at the end of trading Tuesday, while the S&P 500 and the Nasdaq Composite rose 1.07 percent and 1.17 percent respectively. All three posted their first gains since Thursday.
Tuesday also marked the first time since December that the S&P 500 closed above 2,600 points, a threshold monitored by traders.
Shares of Netflix led the rise on Tuesday, as the entertainment streaming service announced it is raising subscription prices for all of its plans.
Netflix stock climbed 6.52 percent while other tech stocks including Facebook, Amazon, Apple and Alphabet all rose more than 2 percent.
J.P. Morgan Chase also rose nearly 1 percent Tuesday, erasing earlier losses after the bank reported lower-than-expected fourth-quarter profits.
Investors also received positive news internationally, as the People’s Bank of China announced it would increase efforts to spark the nation’s economy by improving credit availability for smaller companies.
The Chinese Ministry of Finance also promised to lower taxes and increase infrastructure after the country reported lower-than-expected trade data on Monday.
Some of the positives in the market were offset by news that British lawmakers struck down Prime Minister Theresa May’s Brexit plan, leaving investors concerned about the prospect of global economic growth.
COMMENTS
Please let us know if you're having issues with commenting.