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.
President Donald Trump's boost to AI demand hopes is outweighing fresh tariff threats on China and the EU, as earnings season rolls on.
The S&P 500 advanced 0.6% on Wednesday, Jan. 22, 2025, following the announcement of major AI investments and a string of positive earnings releases.
The S&P 500 climbed to 6,100 for the first time during Wednesday's session. Traders cheered strong earnings and an AI initiative Trump announced on Tuesday.
The CNN Money Fear and Greed index showed further improvement in overall market sentiment, while the index remained in the “Fear” zone on Wednesday. U.S. stocks settled higher on Wednesday, with the S&P 500 surging to a new all-time high during the session.
The S&P 500 is on track for its first record close since Dec. 6. Traders should beware of chasing the move, said Jonathan Krinsky, chief market technician at BTIG, in a Wednesday morning client note.
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.
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Of the S&P 500 companies that have reported earnings so far, 79% have beat estimates, according to FactSet data.
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.
The global video streaming market is projected to reach $119 billion by 2025, with a CAGR of 6.89% from 2025-2029.