Stocks rose on Wednesday as investors looked to extend gains from the previous session as more corporate earnings rolled in. The Nasdaq Composite jumped over 1.5%, while the Dow Jones Industrial Average and S&P 500 Index climbed 0.15% and 0.6% higher, respectively.
Wednesday marked the highest closing level for all three benchmarks since early June.
Here's how the market settled on Wednesday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
Netflix
In addition to earnings, Netflix said it plans to unveil its lower-cost, ad-support subscription tier in early 2023, with the news coming soon after the company partnered with Microsoft
"We'll likely start in a handful of markets where advertising spend is significant," Netflix said in a shareholder letter on Tuesday. "Like most of our new initiatives, our intention is to roll it out, listen and learn, and iterate quickly to improve the offering. So, our advertising business in a few years will likely look quite different than what it looks like on day one."
Wednesday's moves follow a rally that saw all the major averages rise more than 2% as market participants bet on whether or not stocks have bottomed from deep losses seen throughout the first half of the year.
The earnings calendar remains busy heading towards the end of the week, with Abbott Labs
After the bell, Tesla