Netflix stock soars after strong subscriber gains, Oracle teams with OpenAI and SoftBank in a $500 billion AI infrastructure partnership, and Johnson & Johnson posts better-than-expected adjusted fourth-quarter earnings.
Wall Street's indexes rose on Wednesday, with the benchmark S&P 500 hitting an intraday record high as investors cheered streaming video provider Netflix's quarterly report and President Donald Trump's private-sector artificial intelligence infrastructure investment plan.
Wednesday closed up +0.61%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.30%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.33%. March E-mini S&P futures (ESH25) are up +0.55%, and March E-mini Nasdaq futures (NQH25) are up +1.
Netflix, Oracle and other technology stocks are lifting U.S. indexes as their profits pile higher and excitement builds around the moneymaking prospects of artificial intelligence. The S&P 500 rose 0.
A rally in big tech fueled by optimism over artificial intelligence and a batch of earnings from corporate heavyweights sent stocks to the brink of their all-time highs.
Netflix, Oracle and other technology stocks are lifting U.S. indexes as their profits pile higher and excitement builds around the moneymaking prospects of artificial intelligence. The S&P 500 rose 0.
Seagate Technology Holdings Plc ( STX) is up more than +8% after reporting Q2 adjusted EPS of $2.03, better than the consensus of $1.87. Travelers Cos ( TRV) is up more than +4% to lead gainers in the Dow Jones Industrials after reporting Q4 core EPS of $9.15, well above the consensus of $6.59.
Wall Street closed higher, with the S&P 500 index scoring an all-time high. Blowout Netflix results and plans for $500b AI investment fuel gains.
Netflix a thrill: Not that long ago, conventional knowledge was that the streaming market was saturated, Netflix’s golden age of constant subscriber growth was over, and the company would have to eke out revenue gains by raising prices for its existing customers.
US and European stock markets mostly pushed higher Wednesday as investors tracked earnings and President Donald Trump's policy plans as artificial intelligence shares rallied.
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