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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.
Market participants were in full risk-on mode Wednesday as an AI-fueled rally in big tech stocks and a batch of upbeat corporate earnings sent stocks to fresh highs. Tech stocks dominated the list of biggest gainers after President Trump unveiled The Stargate Project,
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.
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.
Netflix, Oracle and other technology stocks are lifting US indexes as their profits pile higher and excitement builds around the moneymaking prospects of artificial intelligence.