Technical Analysis

US major broad indices close with solid gains

Dow rises modestly

The US major broad indices closed solidly higher on the day.

The gains were led by the Nasdaq index which rose by 1.53%. A look at the closing numbers shows:

  • S&P index rose 30.66 points or 0.81% to 3798.93
  • Nasdaq index rose 198.67 points or 1.53% 13197.30
  • The more narrowly focused Dow 30 index rose by 116.26 points or 0.38% to 30930.51.
  • The Russell 2000 small Index rose 26.79 points or 1.26% to 2150

Highlights:

  • Dow rises for the first time in 4 days (3 day losing streak)
  • S&P and NASDAQ index snapped a two day slide

After the close Netflix reported 

  • Streaming paid net change of 8.51 million users. That was much better than the 6.06 million users estimate.  
  • Guidance for the 1st quarter is for a net paid change of 6.0 million vs. estimate of 7.45 million
  • Revenues came in at $7.13 billion vs. estimate $7 billion
  • Earnings-per-share came in at $1.19 vs. $1.39 estimate
  • Netflix sees 1st quarter ECB of $2.97 vs. $2.12 estimate
  • Say that they will explore ongoing stock buybacks

the stock is is trading sharply higher to $554.32 in after- hour trading. The stock closed at $501.77.
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