S&P 500 HITS RECORD HIGH WITH BOOST FROM NETFLIX RESULTS – Investors are watching for the president’s trade plans due to inflation concerns
Wall Street’s indexes rose, with the benchmark S&P 500 hitting a record high during the session, as investors cheered streaming video provider Netflix’s quarterly report and technology shares rallied a day after President Donald Trump announced a private-sector artificial intelligence infrastructure plan.
The technology sector was the biggest gainer among the S&P 500’s 11 major industry indexes with hefty boosts from AI chip leader Nvidia and Microsoft.
Netflix rallied sharply after the company reported a record number of subscribers for the holiday quarter, enabling it to increase prices for most service plans.
The S&P 500 gained 37.13 points, or 0.61%, to end at 6,086.37 points, while the Nasdaq Composite gained 252.56 points, or 1.28%, to 20,009.34. The Dow Jones Industrial Average rose 130.92 points, or 0.3%, to 44,156.73.
Risk appetites have been boosted recently with data pointing to a strong economy and cooling inflation and Trump’s more moderate than feared approach to tariffs since his Monday inauguration.
Sill investors are watching for the president’s trade plans due to inflation concerns after he warned that tariffs on imports from China, Mexico, Canada, and the European Union could be issued in February.
