**US Stock Markets Reach New Highs, Powered by Strong Netflix Earnings**

US stock markets closed on a high note Friday, driven by impressive earnings from Netflix and gains across major indices. The S&P 500 rose by approximately 0.4%, setting a new all-time high and marking its sixth consecutive week of gains, the longest streak in 2024. The tech-heavy Nasdaq Composite increased by about 0.6%, while the Dow Jones Industrial Average edged up by 0.1% after hitting a record closing high the previous day.

The week's gains were bolstered by robust earnings from major banks and an exceptional performance from Netflix. The streaming giant reported a significant profit surge that exceeded Wall Street's expectations, along with stronger than anticipated revenue and subscriber growth. As a result, Netflix shares skyrocketed by around 11%.

In the commodities market, gold prices hit a record high, surpassing $2,700 an ounce for the first time. The surge was driven by concerns over the conflict in the Middle East and uncertainty surrounding the upcoming US presidential election, prompting investors to seek safer assets.

Looking ahead, an array of major companies, including Coca-Cola, Boeing, Tesla, and Hilton, are scheduled to report their quarterly results next week. Investors will also be watching for new data on consumer sentiment and home sales, though no new inflation readings are expected. The Fed will release its Beige Book, providing anecdotal evidence from its 12 bank districts to inform upcoming policy decisions.

The market's enthusiasm for electric utilities was evident, with the S&P 500 Utilities ETF up 29% this year, outpacing the broader index's 23% rise. Companies like Vistra Corp, which has seen its shares increase by 243%, are benefiting from growing demand driven by AI data centers and electric vehicles.

Meanwhile, American Express saw a nearly 3% dip despite reporting better-than-expected third quarter profits and raising its full-year guidance. Investors pulled back after revenue fell slightly short of forecasts. Coinbase, on the other hand, rose more than 5%, continuing its upward momentum alongside Bitcoin's rally.

Netflix’s strong third-quarter performance, characterized by a significant expansion in its advertising business, saw its stock rise more than 9% on Friday. Conversely, CVS's stock fell more than 6% following news that CEO Karen Lynch would be replaced by David Joyner. The pharmacy chain also forecasted lower-than-expected adjusted third-quarter earnings.

Apple also experienced gains, with its stock jumping as much as 1.7% following a report indicating a 20% increase in iPhone sales in China since the launch of its iPhone 16 models in September. This recent sales surge has eased previous concerns about weak initial iPhone 16 sales.

The positive market trends were further supported by improved single-family housing starts in September, driven by lower mortgage rates. However, multifamily construction saw a decline, causing a slight overall decrease in housing starts.

In summary, the stock market’s upbeat close on Friday was fueled by strong corporate earnings reports and a positive outlook as more major companies prepare to release their results next week. Investors are keeping an eye on economic indicators and the Fed's upcoming policy discussions as they navigate the market's current trajectory.