S&P 500 Bulls Drive Longest Weekly Advance in 2024: Markets Wrap
- Netflix surges to record after posting another strong quarter
- IPhone 16 sales soar 20% in China debut as demand returns
This article is for subscribers only.
Wall Street traders wading through a slew of corporate results and signs the world’s largest economy is holding up drove stocks to their longest weekly advance in 2024.
On the eve of the 37th anniversary of the “Black Monday” market crash, equities hit all-time highs amid gains in most major groups. The S&P 500 was up for a sixth straight week. The gauge’s equal-weighted version — one that gives Target Corp. as much clout as Microsoft Corp. — also rose to a record on hopes the rally will broaden out. Netflix Inc. jumped 11% on solid earnings. Apple Inc. climbed 1.2% as sales of its newest iPhones in China soared. American Express Co. sank 3.2% after trimming its revenue forecast.