U.S stock markets hit a record high

The Dow Jones Industrial Average and the S&P 500 shot to all-time highs on Friday, capping six weeks of advances.

The major benchmark for blue chip stocks closed at 5,864.67, up 0.40%. The Dow Jones Industrial Average ended the day at 43,275.91, up 36.86 points, or 0.09%. The Nasdaq Composite ended the day up 0.63% at 18,489.55, driven by a post-earnings spike in Netflix.

The three major averages secured their sixth consecutive week of gains. The longest run of weekly gains this year.

Netflix’s stock price surged 11% on Friday after the streaming giant revealed a 35% rise in ad-tier memberships over the preceding three months, above Wall Street’s third-quarter earnings and sales forecasts. Furthermore, despite lower-than-expected revenue, Procter & Gamble also reported higher-than-expected profits.

Nearly 70 S&P 500 companies have reported their profits this season. 75% of those have surpassed expectations, according to FactSet.

Stocks may continue to rise through November despite an anticipated uptick in market volatility in the run-up to the election. Market analysts also credited this outperformance to investors who had already factored in a victory for Republican nominee and former President Donald Trump, whose tax and regulatory policies would be more favorable to businesses.

Next week, investors will anticipate the results of over 80 S&P 500 firms, including Tesla, UPS, Texas Instruments, and Coca-Cola, as earnings season takes shape. Investors will watch for the publication of September’s US leading economic indicators index, existing home sales data, and consumer sentiment data