Netflix shrugs off market turmoil as shares march past US$300

Netflix has now added more than US$47 billion (S$62 billion) in market value this year.
Netflix has now added more than US$47 billion (S$62 billion) in market value this year.PHOTO: REUTERS

NEW YORK (BLOOMBERG) - Trade wars? Higher interest rates? It doesn't matter to Netflix.

In a week that saw volatility spike and the Dow Jones Industrial Average shed 1,100 points over three days, Netflix continued to rally despite the lack of any big news.

The shares quietly rose more than 5 per cent on the week, closing at yet another record.

Netflix has now added more than US$47 billion (S$62 billion) in market value this year on the way to an S&P 500-leading gain of 57 per cent.

That's more than the market capitalisations of CBS Corp and Viacom combined.

(This story is developing)