S&P 500 ends above 2,600 mark after Netflix-led tech rally
Stocks ended higher on Tuesday thanks to a rally in tech equities and reports of further stimulus measures from China. The S&P 500 rose 1.1% to end around 2,610, based on preliminary numbers. The Dow Jones Industrial Average advanced 155 points, or 0.6%, to 24,065. The Nasdaq Composite climbed 1.7% to finish near 7,024. U.S. equity benchmarks rose to key levels, with the Nasdaq ending above its 50-day moving average for the first time since early October. The S&P 500 closed above 2,600 for the first time since Dec. 14. Stocks received a boost after China's Ministry of Finance said it would cut taxes and increase infrastructure spending, following lackluster trade data earlier this week. Tech equities were buoyed by climbing shares for Netflix Inc. after the video-streaming firm said it would raise prices for U.S. subscribers.
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