Weekly Review October 14-18

STOCKS

US stocks saw fresh record highs last week to finish on positive note on Friday, with tech sector gaining due to Netflix as the company delivered spectacular earnings. The streaming giant's profit, revenue and subscriber growth came in stronger than expected to push its shares 11% higher to fresh all-time highs above the $760 mark. As for the benchmarks, the S&P 500 added 0.4% and recorded a fresh record high and its sixth straight week of gains. The tech-heavy Nasdaq Composite gained 0.6%, while the Dow Jones Industrial Average rose 0.1% after hitting a new closing high during the previous session. For the week, the S&P 500 added 0.9%, the Nasdaq Composite advanced 0.8%, and the Dow Jones jumped 1%. In Europe, the DAX 30 reached a new high following the ECB’s third rate cut of the year on Thursday. The Euro Stoxx 600 rose by 0.98% during the week. On the negative side, Chinese stocks extended their decline as additional stimulus measures failed to impress investors.