The Nasdaq Soars Led by Netflix's Record-Breaking Surge
As Donald Trump's AI agenda boosts the tech sector, the Nasdaq Composite (^IXIC) surged nearly 1%. This rise was fueled by Netflix's (NFLX) stellar earnings report. The streaming giant's stock soared over 13%, reaching an all-time high.
Trump's Ambitious AI Push Drives Market Enthusiasm
Trump's $500 billion private-sector investment plan for artificial intelligence (AI) has reignited investor optimism in the emerging technology. Shares of Oracle (ORCL), a partner in the "Stargate" AI venture, climbed approximately 7%.
Netflix's Record Subscriber Additions Boost Shares
Netflix's record-setting new subscriber additions, along with surpassing revenue and earnings expectations, fueled its stock's surge. The company also announced a $15 billion stock buyback and boosted its full-year revenue outlook.
S&P 500 Approaches All-Time High
The S&P 500 (^GSPC) gained 0.5%, narrowly missing its all-time intraday record high. Strong Netflix earnings contributed to this positive momentum.
Trump's Tariff Threats Dampen Market Sentiment
Despite the market's overall bullishness, concerns over a potential trade war with China have dampened investor sentiment. Trump announced plans to impose a 10% tariff on Chinese imports, sparking fears of an escalation.
Other News to Note
* Johnson & Johnson (JNJ) posted higher-than-expected sales and profit, but its stock slipped due to the strong dollar.
* Procter & Gamble (PG) shares jumped after its sales exceeded forecasts.
* Elon Musk expressed skepticism about the Stargate AI investment, claiming limited funding from SoftBank.
* Economic data releases today include MBA Mortgage Applications and the Leading Index.