### Wall Street Rallies with Market Highs, Netflix Soars on Earnings Beat

In a remarkable display of market strength, the S&P 500 and the Dow Jones Industrial Average both soared to unprecedented heights on Friday, concluding a sixth successive week of gains. The broad market index rose by 0.40%, closing at 5,864.67, while the Dow Jones Industrial Average saw an uptick of 36.86 points, or 0.09%, to end at 43,275.91. Similarly, the Nasdaq Composite, buoyed by a post-earnings surge in Netflix, advanced 0.63% to close at 18,489.55.

This continuous upward momentum across the three major indices represents their longest streak of weekly gains in 2024. Specifically, the Dow and the S&P 500 finished the week 0.96% and 0.85% higher, respectively, with the Nasdaq also climbing 0.80%.

Netflix emerged as a major contributor to the Nasdaq's rise, skyrocketing by 11% in a single day following its stronger-than-expected quarterly earnings report. The streaming giant exceeded Wall Street's expectations for both earnings and revenue and noted a substantial 35% increase in ad-tier memberships compared to the previous quarter. Another notable performer, Procter & Gamble, also reported earnings that surpassed forecasts, although its revenue fell short of estimates.

Earnings season has seen more than 70 companies within the S&P 500 disclose their quarterly results, with 75% of them beating market expectations, based on data from FactSet.

Despite growing concerns about potential market volatility in the run-up to the election, some experts like Rob Williams, chief investment strategist at Sage Advisory, believe that stocks might continue to rally into November. This pattern is unusual for an election year, where markets typically hesitate pre-election and perform better post-election. Williams suggests that the current trend might be driven by the market already pricing in a favourable outcome for Republican nominee and former President Donald Trump, whose anticipated policies are seen as business-friendly in terms of taxes and regulations.