Stocks Inch Further Into Bull Market as Tech Gains: Markets Wrap
- Netflix rises on report it added new subscribers; Adobe gains
- Markets are looking ahead to central bank decisions next week
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The S&P 500 inched further into bull-market territory on Friday as technology shares continued to climb amid bets the Federal Reserve is nearing the end of its hiking cycle.
The benchmark index added 0.1%, as tech and megacap shares drove another session of gains, with Tesla Inc. up 4.1% after General Motors Co. announced it’s joining the company’s charging network. Netflix Inc. rose 2.6% on a report it added US subscribers after cracking down on password sharing. And Adobe Inc. gained another 3.4% amid the frenzy in stocks linked to artificial intelligence.