US equities rose at Friday’s close as the Standard & Poor’s 500 and Dow Jones broke a three-session losing streak.
The Nasdaq rose more than 2% after quarterly earnings helped lift shares in Netflix and shares in Alphabet, which owns Google, surged after announcing job cuts.
Shares of Netflix jumped after the streaming company said it gained more subscribers than expected in the fourth quarter and said its co-founder Reed Hastings is stepping down as chief executive.
Alphabet was the latest major company to announce job cuts, saying it would cut 12,000 jobs, which sent its stock up, according to Reuters.
The Standard & Poor’s 500 index rose 72.93 points, or 1.87%, to 3971.78 points, while the Nasdaq Composite index rose 285.41 points, or 2.63%, to 11137.68 points. The Dow Jones Industrial Average rose 326.74 points, or 0.99%, to 33,371.30.
