The major averages closed higher to end the week with the Dow and S&P 500 closing at record highs, following strong earnings from Netflix and other blue chip stocks. The Dow Jones Industrial Average rose 36 points. The S&P 500 rose 23 points while the Nasdaq rose 115 points or 0.63%.

The three major averages rose for a sixth straight positive week. This marked the longest string of weekly advances in 2024 for both the Dow and S&P 500, which respectively ended 0.96% and 0.85% higher. The Nasdaq climbed 0.80%.

Netflix was the diamond today up 11% after the streaming giant beat Wall Street's expectations on both the top and bottom line. Sales rose 15% to $9.82 billion.Netflix also raised guidance with a 35% jump in ad-tier memberships from the prior three-month period.

Intuitive Surgical rose 10% on earnings, but the rest of the earnings reports today were not so great. Procter & Gamble, SLB, Ally and Fifth Third were all lower on earnings. CVS fell down 5% after replacing their CEO and lowering guidance.

So far, more than 70 S&P 500 companies have reported earnings. Of those, 75% have beaten expectations, according to FactSet.

Brent fell more than 7% this week, marking their biggest weekly decline since Sept. 2, when OPEC and the International Energy Agency cut their forecasts for global oil demand in 2024 and 2025. Demand out of China remains weak.

Speaking of China, their markets rebounded as the government tries to stimulate their sluggish economy.