Tech Stocks Boost Indices as Netflix Soars on Subscriber Growth

The S&P 500 and Nasdaq gained as technology stocks, including Netflix, rose significantly. Netflix's shares increased after a strong subscriber growth report. Despite positive earnings and economic data, high valuations and upcoming elections could affect market stability.

On Friday, the S&P 500 and tech-focused Nasdaq benefited from significant gains in technology stocks, with Netflix standing out due to surpassing subscriber growth expectations. Shares of the streaming service giant soared 10.2% to reach a record high.

The Dow Jones Industrial Average, however, saw a downturn, dragged by American Express's 3.6% revenue miss. Contrastingly, Apple and Nvidia saw gains following positive data and revised price targets.

Despite a promising start to the earnings season and positive economic indicators, market experts caution about potential volatility linked to U.S. elections and future Federal Reserve meetings, amidst the high current valuations of the S&P 500.

(With inputs from agencies.)