Shares of Netflix Inc. NFLX powered up 9.1% in midday trading Thursday, enough to pace the S&P 500’s gainers, and putting them on track to close at the highest price for the month. The video streaming giant stock was also headed for the the biggest one-day gain since it ran up 13.1% on Oct. 19, 2022. While the stocks of other companies with leading streaming services were also rising, Netflix’s stock outperformed them by a wide margin. Shares of Apple Inc. AAPL advanced 1.7%, Walt Disney Co. DIS climbed 1.8%, Amazon.com Inc. AMZN rallied 1.6% and Paramount Global PARA gained 2.6%. However, they all outperformed the S&P 500 SPX, which tacked on 1.4%. Separately, The Wall Street Journal reported that New York lawmakers are considering a sales tax on streaming services, such as Netflix, to raise money for the Metropolitan Transportation Authority so fares on New York City subways wouldn’t have to be raised.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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