by Chuck Mikolajczak
NEW YORK (Reuters) – The New York Stock Exchange ended higher on Friday, with the Dow Jones and the S&P 500 benefiting from profit taking after three consecutive sessions of declines and the Nasdaq relying on the very good performance of Netflix and Alphabet , the parent company of Google, which announced the elimination of 12,000 jobs worldwide.
The Dow Jones gained 330.93 points, or 1%, to 33,375.49, the S&P 500 73.76 points, or 1.89%, to 3,972.61 and the Nasdaq Composite 288.17 points, or 2.66 %, at 11,140.43.
Netflix jumped 8.46% after posting a higher-than-expected fourth-quarter subscriber count on Thursday. The online video giant’s co-founder Reed Hastings has also announced that he is stepping down as chief executive.
Alphabet shares, for their part, fully benefited (+5.34%) from the group’s announcement of the loss of 12,000 jobs, which comes after other similar decisions to reduce the workforce by large technological groups.
Dow Jones’ advance was dampened by a 2.54% drop in Goldman Sachs stock as the Wall Street Journal reported that the US Federal Reserve was investigating the group’s retail bank to determine whether it had the right tools. in terms of risk control when it developed its credit activity.
Over the past week, the Dow and the S&P ended in the red (-2.7% for the Dow, -0.66% for the S&P), while signs of a slowdown in the American economy, or even a recession, and their impact on corporate earnings continue to worry investors.
Analysts now expect fourth-quarter earnings for S&P 500 companies to fall 2.9% from the same period in 2021, according to Refinitiv data, while they had forecast a decline of 1 at the start of the year. .6%.
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(French version Jean-Stéphane Brosse)
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