According to reports by Nasdaq, amazing purchasing pressures have been recorded amongst the so-called “stay-at-home” leaders, including Facebook, Apple, and Microsoft. This was a ripple effect from the upbeat reported by Netflix Inc last week.
Earlier, after beating market estimates, the share price of Netflix had posted remarkable gains, powering the video streaming stock as it attracted more consumers than anticipated. Netflix further announced that it no longer needed debt to build its entertainment empire.
This optimistic upbeat sparked several bullish remarks from Wall Street analysts eventhough some tried to figure out how much of the rise of subscriptions was pulled in.
However, the Nasdaq index had touched a record high on expectations of promising results from Apple, Facebook, and Google later this week, but the Dow Jones Industrial Average index, dominated by producers and airlines, failed to sustain the level of anticipated bullish momentum.
That said, in recent days, the U.S. stock market has traditionally pulled back from its record highs, waiting to see whether COVID-19 vaccinations will globally minimize COVID-19 infection rates.
And to finish at 30,960 points, the Dow Jones Industrial Average dipped by 0.12 percent. On the otherhand, S&P 500 rose by 0.36 percent to close at 3,855.36 points.
The Nasdaq Composite also added 0.69 percent, to settle at 13,635.99 points.