U.S. Stocks Open Higher; Netflix Shares Sink After Downbeat Revenue Forecast, Co-Founder to Leave

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U.S. Stocks Open Higher; Netflix Shares Sink After Downbeat Revenue Forecast, Co-Founder to Leave

Tiger Newspress04-17 21:30

U.S. stocks rose on Friday after Iran declared the Strait of Hormuz “completely open” on the heels of a ceasefire announcement between Israel and Lebanon.

The Dow Jones Industrial Average rose by 515 points, or 1.1%. The S&P 500 traded up 0.6%, while the Nasdaq Composite gained 0.9%

In a post on X published Friday, Iranian Foreign Minister Seyed Abbas Araghchi wrote, “In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran.”

Shares in Netflix sank 11% on Friday after the company forecast revenue growth below expectations and as chairman and co-founder Reed Hastings said he would not seek re-election.

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