Key Takeaways 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.Netflix shares took off after the video streamer topped quarterly estimates and reported strong subscriber additions.
Wall Street's indexes rose on Wednesday, with the benchmark S&P 500 hitting an intraday record high as investors cheered streaming video provider Netflix's quarterly report and President Donald Trump's private-sector artificial intelligence infrastructure investment plan.
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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.
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.
Netflix Inc. NFLX reported stronger-than-expected fourth-quarter financial results on Tuesday. Procter & Gamble Company PG posted better-than-expected second-quarter financial results. Abbott Laboratories ABT reported fourth-quarter sales of $10.97 billion, up 7.2% year over year, missing the consensus of $11.01 billion.
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 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.
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.
(Reuters) - 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 ...