Wall Street's main indexes rose on Wednesday, with the benchmark S&P 500 hitting a record high, as investors cheered streaming video provider Netflix's quarterly report and technology shares rallied after the announcement of a private-sector artificial intelligence infrastructure plan.
NASDAQ futures lead gains
All three major U.S. stock indexes remained on pace for a third straight day of gains as of Wednesday's final hour of trading, with the S&P 500 aiming for an all-time closing high with help from names like Netflix Inc.
Netflix, Oracle, and Nvidia lead gains as S&P 500 reaches an all-time high. Explore the drivers behind this rally and what it means for US stock markets today.
Of the S&P 500 companies that have reported earnings so far, 79% have beat estimates, according to FactSet data.
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Netflix is likely to be a leader in this rally. The stock has been strongest in the month of January. From January 21 st through February 15 th, price has risen over 85% of the time over the last 22 years.
Wall Street's main indexes rose on Wednesday, with the benchmark S&P 500 hitting an all-time high, as investors cheered streaming giant Netflix's strong quarterly performance and President Donald Trump's multi-billion dollar support to bolster AI infrastructure.
Shares of Netflix soared 13% to an all-time high on Wednesday after the streaming giant's big bet on sports helped add a record 18.9 million subscribers in the holiday quarter, ballooning its already sizeable advantage over other players.
S&P 500 futures are up 0.5%. Dow Jones Industrial Average futures are adding 0.4%. Nasdaq 100 futures are gaining 0.5%. On Friday, the Dow Jones Industrial Average rose 335 points, or 0.78%, to 43,488,
A majority of the S&P 500's sectors were surging in the final hour of trading on Tuesday, but energy stocks were lagging behind. The S&P 500's energy sector was falling nearly 1%, making it the only sector on the large-cap benchmark index that was stuck in negative territory on Tuesday afternoon.
Earnings season will roll on this week with 43 S&P 500 companies reporting, headlined by large-cap tech giant Netflix. But whether or not earnings will truly be the focus in the coming weeks will be tested, as political headlines are expected to pile in as Trump is sworn into office.