Tech Stocks Soar, Led by Netflix's Record High
On Wednesday, the tech sector led the market higher, propelled by a surge in Netflix shares following its impressive earnings report. The Nasdaq Composite (^IXIC) climbed 1.3%, driven by Netflix's 10% rally, while the S&P 500 (^GSPC) gained 0.6% and the Dow Jones Industrial Average (^DJI) rose 0.3%.
Trump's AI Investment Boosts Tech Stocks
President Trump's announcement of a $500 billion private-sector investment in AI infrastructure, dubbed "Stargate," ignited enthusiasm for tech stocks. Oracle (ORCL), a partner in the venture, rose 6% on the prospect of increased AI spending, while SoftBank (SFTBY) jumped 11%.
Johnson & Johnson Faces Headwinds Despite Earnings Beat
Johnson & Johnson (JNJ) reported better-than-expected quarterly results, but its stock dipped as investors weighed the impact of a strong dollar and other negative factors.
Netflix Reaches All-Time Highs
Netflix (NFLX) surged to record highs, trading 13% higher in early trading after reporting a strong fourth quarter with impressive subscriber growth, revenue, and earnings.
S&P 500 Approaches Record High
The S&P 500 opened near its record high, hovering just below its all-time intraday record as investors cheered strong corporate earnings and the AI investment boost.
Nike Reaches $200 Per Share
Nike (NKE) shares rose above $200 for the first time, driven by strong growth in its sportswear and footwear business.
PepsiCo Defends Against Criticism
PepsiCo (PEP) CEO Ramon Laguarta addressed concerns about the food industry from the Trump administration, stating that the company has been leading in reducing sodium, sugar, and fat content.
Higher Interest Rates May Be the New Normal
BlackRock's Investment Institute believes that higher interest rates are likely to persist, even though yields have recently eased.
Amazon Hits Record High
Amazon (AMZN) shares reached a fresh high of over $234, continuing their rally amid the broader tech sector surge.