Nasdaq finishes up 1.6% as stocks build on previous day’s bounce

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Stocks finished higher on Wednesday, adding to sharp gains booked a day before, with a corporate earnings from a string of major technology companies in focus. The Dow Jones Industrial Average DJIA, +0.15% added about 51 points, or 0.2%, ending near 31,878. The S&P 500 index SPX, +0.59% rose 0.6%, while the Nasdaq Composite Index COMP, +1.58% closed 1.6% higher. Shares of steaming giant Netflix, Inc. NFLX, +7.35% bounced Wednesday after it reported losing only half as many subscribers as feared in the second quarter. Electric vehicle maker Tesla Inc. TSLA, +0.80% is due to report after the market close Wednesday. The raft of tech earnings has given investors something to focus on before next week’s Federal Reserve meeting in which the central bank is expected to fire off another interest rate increase of 75 basis points as it looks to tamp down inflation that hit a 41-year high in June.

This article was originally published by Marketwatch.com. Read the original article here.

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