Bay Area stocks gain more ground behind advances from the likes of Netflix, Twitter and Facebook.
Investors remained enthusiastic about many Bay Area stocks Thursday, which helped the nation’s major stock-market gauges add to their recent gains.
The tech-focused Nasdaq Composite Index climbed 0.8 percent to 6,585.36, and the blue chip Dow Jones Industrial Average rose 0.5 percent, or almost 114 points, to reach 22,775.39. The broad-based Standard & Poor’s 500 Index climbed 0.6 percent to end the day at 2,552.07.
Netflix was a big gainer, as its shares rose 5.4 percent to close at $194.39. Early Thursday, Netflix said it would raise the prices of two of its video-streaming plans in the U. S. from $9.99 a month and $11.99 a month, to $10.99 and $13.99 a month, respectively. The move could add up to $700 million in revenue for Netflix by the end of 2018.
Twitter had a good day, too, with its shares rising almost 3 percent to $18.25. Facebook climbed by 1.7 percent to close at $171.24, and Apple shares tacked on 1.2 percent to finish the day’s trading at $155.39.
Alphabet rose almost 2 percent, to close at $985.19 a day after Google unveiled Clips, a new, standalone camera with artificial intelligence capabilities.
The potential competition from Google’s new camera continued to hurt GoPro’s share price. The sport-action camera-maker’s shares fell 6.3 percent on Wednesday, and slumped by almost 7 percent Thursday to close at $9.67, in the wake of the Google camera announcement.
