Nasdaq boosted by growth stocks after Netflix’s upbeat forecast, jumps 1.8%

The Nasdaq gained nearly 2% on Wednesday after a positive forecast from Netflix added to largely upbeat second-quarter earnings from U.S. companies amid rising recession fears due to the Federal Reserve’s efforts to tame surging inflation.

Netflix Inc’s shares jumped 7.1% after the company predicted it would return to customer growth during the third quarter, while posting a smaller-than-expected 1 million drop in subscribers in the second quarter.

The forecast from the streaming service provider helped other high-growth stocks extend gains. Shares of Apple Inc , Amazon.com Inc, Microsoft Corp and Meta Platforms Inc added between 1.7% and 4.1%.