It's been an up-and-down week for the stock market, but it looked as though investors were ready to celebrate on Friday. Index futures on the Nasdaq Composite (NASDAQINDEX: ^IXIC) were up nearly 1% in premarket trading Friday morning as the benchmark looked to reverse steep losses over the past couple of days.

For years, FAANG stocks captured investors' attention and spurred the big gains for the Nasdaq, as they represented the leaders of key industries spurring innovation and growth. Stocks like Netflix (NASDAQ: NFLX) and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) proved vulnerable to the conditions that led to the bear market in 2022, but investors now hope that the two companies are back moving in the right direction. Below, you'll see why shareholders are seeing shares of Netflix and Alphabet rise on Friday and whether it signals a broader rebound for the market as a whole.

Shares of Netflix jumped 7% in premarket trading Friday. The streaming video pioneer released its latest quarterly results Thursday afternoon, and investors were generally pleased with what they saw as a new growth driver that could help boost the stock's long-term prospects.

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Source Fool.com