[New York Stock Market] S&P 500 and Nasdaq Hit Fresh Record Highs; Netflix Plunges in After-Hours Trading

[Financial News]

All three major U.S. stock indexes rose together on the 16th (local time).
The tech-heavy S&P 500 and Nasdaq extended their record-breaking run, marking new all-time highs for the second day in a row.
In particular, the Nasdaq has now risen for 12 consecutive trading days since the 31st of last month, its longest winning streak since 2009.
Meanwhile, Netflix announced in its earnings release after the closing bell that co-founder Reed Hastings will step down as chair of the board in June, sending the stock down more than 8% in after-hours trading.

The S&P 500 and Nasdaq set new all-time highs for the second straight day.
The S&P 500 finished at 7,041.28, up 18.33 points, or 0.26%, from the previous session, while the Nasdaq closed at 24,102.70, gaining 86.69 points, or 0.36%.
The Dow Jones Industrial Average (DJIA) also advanced, ending the day at 48,578.72, up 115.00 points, or 0.24%.
The Cboe Volatility Index (VIX), often called Wall Street's "fear gauge," continued to decline. The VIX fell 0.23 points, or 1.27%, to 17.94.

Tesla, Nvidia, and Alphabet, which had led the previous day's rally, paused for breath.
Nvidia slipped $0.52, or 0.26%, to close at $198.35, while Alphabet ended at $336.02, down $1.10, or 0.33%.
Apple fell $3.03, or 1.14%, to $263.40, and Tesla closed at $388.90, down $3.05, or 0.78%.
By contrast, Microsoft Corporation (MS) gained $9.04, or 2.20%, to finish at $420.26, and Amazon added $1.20, or 0.48%, to end at $249.70.

Quantum computing startups continued their upward momentum.
Leader IonQ jumped $1.43, or 3.31%, to $44.68, while Rigetti Computing rose $0.34, or 1.78%, to $19.45.
D-Wave Quantum surged $0.71, or 3.41%, to $21.52.

Netflix in regular trading edged up $0.08, or 0.07%, to close at $107.79 ahead of its earnings release, but then plunged more than 8% in after-hours trading.
First-quarter revenue came in at $12.25 billion, beating the market consensus of $12.18 billion, and earnings per share nearly doubled from a year earlier to $1.23. Even so, the stock tumbled.
The sell-off was triggered by the announcement that Reed Hastings, the co-founder who has long led Netflix and currently serves as chair of the board, will step down when his term ends in June and leave the board altogether.
Hastings had already resigned from the Chief Executive Officer (CEO) role in 2023.
He stated that he plans to fully retire in June and devote himself to philanthropy and other activities.

dympna@fnnews.com Song Kyung-jae Reporter