Business
ASX back above 7000 as miners, banks and tech firms rise – The Sydney Morning Herald
The ASX200 started Thursday with a 0.5 per cent rise to climb back above 7000. The miners, banks and tech firms were ahead, while energy stocks dragged.
Wall Street rebounded after a two-day decline as a tilt toward stocks poised to benefit from a recovering economy offset Netflix Incs sell-off after its disappointing results a day earlier.
Shares of Netflix slumped 7.4 per cent after the worlds largest streaming service said slower production of TV shows and movies during the pandemic hurt subscriber growth in the first quarter.
But stocks rallied throughout the day, building steam as the tech-heavy Nasdaq Composite Index overtook the S&P 500 in…
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