Market Surge: Netflix Hits Record Highs, Precious Metals Shine, Oil Prices Decline below $70

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19/10/2024 20h37

**Market Surge: Netflix Hits Record Highs, Gold and Silver Prices Soar, Oil Falls Below $70**

In a buoyant session for Wall Street on Friday, several key market movers drove significant advances across various sectors. Notably, Netflix Inc. experienced a dramatic surge, pulling the Nasdaq 100 upwards while precious metals also shone, and oil dipped below a critical threshold.

Netflix shares skyrocketed by 10% following a robust earnings report, hitting all-time highs. This impressive performance fueled the tech-heavy Nasdaq 100, which rose by 0.8%, marking six consecutive weeks of gains. Similarly, the S&P 500 and Dow Jones Industrial Average continued their upward momentum, both poised to achieve their sixth straight week of positive performance. The Dow, in particular, is nearing its all-time high.

Gold and silver prices surged, benefiting mining stocks. Gold prices soared past $2,700 per ounce, an unprecedented high, prompting the VanEck Gold Miners ETF to jump over 4%, reaching its highest level in more than four years. Silver also saw a significant boost, climbing over 3% and heading for its most substantial single-day gain since late September.

On the cryptocurrency front, Bitcoin rose by 2.8%, surpassing $68,800. This uptick contributed to the overall bullish sentiment observed in the markets.

Conversely, oil prices fell below the $70 mark, adding a contrasting element to the day’s trading activities. The diverse movements across sectors highlighted a day of significant transitions and investor optimism on Wall Street.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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