On Monday, the main catalyst of the rally were the good results of Netflix. Not only did profits exceed estimates, but the number of subscribers to the company's media services was much higher than forecast (8.33 million versus 6.39 million). Netflix shares appreciated 10% and boosted the other technology titles that in turn served as the engine for the rest of the market. Not taking any notice of Netflix's bottom line, the market appears to be going through a phase where investors do not need economic or financial drivers to buy stocks. Positive feeling finds stimuli in itself.
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